It’s the never-ending dynamism and rapid evolution what makes the Public relations (PR) such a thriving profession. Gone are the days when the activities of a PR agency was restricted to issuing standard press releases, setting up media interactions, organizing press conferences and events. PR of today is more than those archetypical exercises. As National PR day has been recently celebrated on April 21, it’s an opportune time to do a reality check.
With the advent digital media, PR is no longer is about disseminating information, it’s about influencing the target audience and engaging with them in a more meaningful way. So, the growth and the success sutra lies in being nimble in the approach and outlook as well as in the ability to adapt to the changes. The industry growth prospect is quite encouraging. According to a recent report by Feedback Business Consulting, the PR industry is expected to touch Rs.2,000 crore-mark by 2020. For the record, the industry has been witnessing double-digit growth for the last few years. According to the ‘State of the Industry Survey 2017’ report by the Public Relations Consultants Association of India (PRCAI), The PR industry size has grown to Rs.1,315 crore in FY2017, registering 18% growth.
Engaging videos, thought leadership articles, blogs, whitepapers, online content, social media content – PR at the moment is multi-dimensional and each aspect presents huge growth opportunities. So, innovation and quick adaptation to those trends could be termed as the growth-sutra for the new-age PR agency.
Amidst the growth buzz, it’s time for the PR agency/industry as a whole to introspect and address the chronic pain points to leverage the opportunities. The industry should focus on getting rid of old baggage like unimaginative press releases lacing journalistic values, obsession towards quantity over quality. The transition from traditional PR to more strategic communications has already started. The trend is set to gain momentum in days to come. Apart from the technology adoption, another key challenge which the PR agency will be facing more is growing expectations form the corporate. However, there is another way to at the scenario. Those developments open up new growth avenues for the futuristic practitioners in the industry who will not miss out on.
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