Friday, November 14, 2008

Insights for PR Firms in a Recession Environment

Tough economic times will affect many industries. Some will be hit hard, but experts predict others, like health care, will weather the storm just fine. I’ve come across several stories trying to anticipate the effect on the public relations profession. I’ve never worked for a PR firm, but if we just look at that sector of our profession, there are some interesting prospects. I want to share two with you.

First, a recent episode of the Inside PR podcast focused on actions agencies can take when confronted with an economic downturn. The three people in the conversation (Terry Fallis , Martin Waxman and Julie Rusciolelli) are all with agencies, and part of their conversation points to opportunities agencies can take advantage of when companies reduce their in-house PR staff (sigh) and turn to agencies to take on some of that workload.

By the way, Inside PR is a podcast that I have strongly recommended you listen to before. I still do. It’s insightful and entertaining.

Second, Joseph Thornley, CEO of Thornley Fallis, posted a story, “Managing through the coming recession,” from an agency exec’s point of view. It presents some strategies that those of you in similar positions might want to consider.

1 comment:

Suzuki Bandit Fairings said...

It is a good think to know and discuss how to prevent some of the downfalls due to our bad economy.