Standing strong during turbulent times

As another recession looms, recent stats from the PRCA have revealed that many PR agencies expect reduced client budgets and over-servicing of accounts to increase during 2012. 51% of respondents expect the economic condition of the industry to get worse this year, with only 12% expecting it to improve.

Undoubtedly, budget cuts will be a concern and something which PRs should be prepared for. From speaking to directors at Spark, we’ve found that by ensuring we are delivering real business value to clients during economic difficulties, they actually start to invest more.

Instead of worrying for the future, agencies should be looking at how to improve the services they already offer, while expanding this to other areas such as social media, video content, copywriting and even marketing. This integrated approach means that clients can get more valuable services for their money.  During a recession, PR budgets are often the first to be cut, but if the industry really focuses on value it should start to see the market prosper during turbulent times.