exchange4media.com and Eikona, the Neutral, Earned Media Planning, Audit & Advisory Service, jointly bring to you an info graphic fortnightly series called EIKONA connect. This series will focus on quick interesting nuggets of PR / Earned Media Trends and dynamics faced by the Professionals of Corporate Communications & PR Firms. The objective is to create and inculcate informed opinion about PR and aid towards Scientific Decision Making Process.
Monetary estimation of PR Industry size and growth is certainly one yardstick to gauge its evolution. However, ground level evidences, backed by data, complement the growth story of this wonderful brand building and sustaining tool called Public Relations.
A simple, yet, effective indicator of the fact that PR Tool is increasingly getting used by brand custodians across industry verticals is by gauging the growth of Earned Media space usage dedicated to a brand across editorial/news & views formats.
As per Eikona estimation, the Print PR/Earned Media Industry volumes saw an indexed growth of 38% in Jan-July 2015 over Jan-July 2014. (The estimation has been arrived at by aggregating the news/editorial/earned media exposure of brands across 15 key Industry verticals in the print media.)
Interestingly, sectors like Banking, Fashion & Lifestyle, Tourism, Ecommerce, Real Estate, Consumer Durables, TV & Entertainment, FMCG, Celebrities, etc. are some categories that have helped maintain bullishness of overall PR Industry volumes giving a growth of 38%.
Sectors like Telecom, Insurance, Mutual Funds, etc., however, are some of the sectors that have been static or witnessed a negative growth during Jan-July 2015 over the same period last year.
Some Reasons for Growth:
The above growth can be attributed to a permutation and combination of developments within the PR Industry such as:
More and more Corporates (Indian and MNCs, small or big) are realizing the benefits of using PR as a part of their IMC mix
There has been an impressive growth in the following:
With PR retainer fees tending towards being kind of healthy, PR Agencies are investing in larger and quality teams who plan and execute intelligent PR Campaigns for Clients.
Many small/boutique PR Agencies have come up and who are doing quality & customized work for many small and big brands. More importantly, they are helping clients expand their presence in regional media
PR Agencies are not just putting its Clients’ PR efforts on ‘News’ visibility. They are equally helping Clients build Brand Thought Leadership by pushing their presence on ‘Views’ platforms as well.
Given the lack of programme/editorial options available on Television News Channels for a Brand to tell its story, dependency on Print PR/Earned Media continues.