Wizikey, PRPOI unveil the 2023 edition of the ‘State of PR and Comms’ Report
PRPOI launches the 2023 edition of ‘State of PR and Comms’ survey on the Public Relations and Communications Industry, powered by Wizikey, the SAAS and AI-powered global media monitoring and intelligence company. A complete guide to the state of an industry that has bucked a pandemic and continues to grow despite economic uncertainties and downturns.
The survey was held across a set of 207 respondents across entry, mid, and CXO levels in the communication industry, independent agencies, and corporate communication organizations. Presenting the key findings from the survey we find the following insights:
Businesses
- ·9 out of 10 brands have faced no impact from the downturn. PR and Comms continue to be the most essential Marketing element for organizations, taking in 25% of the pie, with social media following at a close second.
- Building Trust and Credibility remain the most important aspect of PR as a function. This is especially true in a post-pandemic world, with a whopping 57.7% responding on this.·
- Larger organizations still have it good, with organizations with over 500 employee strengths showing the most stability.
Agencies
- Almost 50% of agencies are facing an impact from the economic downturn in the market with their current clients due to budget cuts or decreased PR activites. 53% see no impact on new business development.
Commenting on the survey findings Aakriti Bhargava, Co-Founder, Wizikey said, “PR is always at the rescue for companies during rough times. It will not be surprising to see companies adopt new communication tactics to survive and thrive in these difficult times. Building Trust and Credibility will be a critical factor for companies to survive the ongoing economic environment”
“The survey findings re-emphasize a lot of the empirical data that you hear in conversations while some others are a surprise. This survey captures the overall sentiment in the industry and reconfirms that Public Relations is in a robust space and its capacity to steer brand narrative has only increased in the past few years. It is a great snapshot of the industry overall and instills confidence on the state of PR.” Tarunjeet Rattan, Founder – PRPOI also added.
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Disclaimer: Information mentioned here has not been verified or endorsed by Agency Reporter and is in accordance with the press release shared by the company or their appointed representatives