ICCO’s Global PR Confidence Tracker, in partnership with Question and Retain, has surveyed ICCO members from over 70 countries over the past seven months to gauge industry confidence.
As the chart shows, confidence increased from April and June, and then June to August, and has since stayed at that level in October. This month, 64% of respondents are still feeling confident to very confident about the future of their agency, and only 9% are not very confident.
“After a dip in demand during the spring activities have really started to ramp up, corporates are performing better than expected and there is a great supply of cash in the investor community which sparks activity.”
“I think the Covid-crisis has established a new way of working between clients and agencies, one which has removed any unnecessary, complicated layers and demands a more direct, senior treatment from start to finish. I think client chemistry, although affected by the pandemic and virtual working, has become more real, more honest, more direct and clients respect consultants/ agencies with those values.”
“Enquiries are coming in - and from new sectors that we have not dealt with before. Just recruited five new staff - 15% extra and looking for two more. Positive”
“We've got stronger relationships with existing clients. We're winning more new business. We've diversified our service offering. Plus, the 'back to work' push in March 2021 will be a huge opportunity for our sector.”
Other comments in confidence refer to having adapted smoothly to the new conditions, as well as health and tech clients doing well. The unconfident responses tend to point towards industries like aviation and hospitality, a pause on live events, as well as inability to plan due to uncertainty around restrictions, political instability, or economic conditions in the respondent’s region.
The next confidence tracker will take place in December.