Where can PR make money?
Date: 25 January 2012 16:05
According to the latest Pearlfinders Index, which analyses interviews with more than 5,000 marketing decision makers each year, there have been plenty of ups and downs in key sectors, ranging from the charity sector to manufacturing. However, the sectors which currently seem most promising for PR are food and charities.
Focus on healthy eating
Discussing the findings, Pearlfinders managing director Anthony Cooper says that despite the dip in demand for consumer PR services in the last quarter, there are pockets of opportunity, adding that, “the FMCG-food sector has shown the strongest long-term growth”. Looking at the trends that are most promising, Cooper says that PROs should be aware of the continued innovation around healthy, organic food and premium ethnic condiments: “Premium food brands are working hard to drive repeat purchases outside the AB demographic, as the drop in disposable income continues to encourage this group to trade down.” One example of a brand keen to strengthen itself is PomeGreat.
Top 10 Sectors for PR opportunities
Source: Pearlfinders Index
Cooper says that PR firms should also pay attention to US and Asian food brands that are looking to expand outside their home market: “Agencies need to be proactive to identify where international expansion is an obvious step, and focus on local media expertise and consumer insights.”
Manage corporate reputation
Pearlfinders’ regular interviews with marketing decision makers show which agency disciplines are being reviewed, scheduled or are seeing increased investment. Latest findings indicate that consumer PR is still most in demand, but less so than a year ago. However corporate PR is noticeably in more demand.
Demand for PR services
Source: Pearlfinders Index
When times are hard, holding on to your corporate reputation is vital. As Cooper says: “From financial services to retail, managing corporate reputation is one area where brands cannot cut corners.” He adds that because it is so intrinsic, there have been shifts in PR spend towards CSR, brand consolidation, mergers and acquisitions and international expansion.
As it has been a busy year of product recalls, scandals and social media faux pas, there has been great demand for crisis management. Cooper concludes: “Agencies specialising in crisis comms have a great opportunity to reassert their capabilities on the market, develop their services and extend ownership of the social space.”
Pearlfinders speaks to more than 5,000 marketing decision makers each year across all industries to uncover areas of opportunity for every marketing services discipline. The Pearlfinders Index collects and analyses data from these interviews, allowing it to monitor key characteristics of the marketing services sector.