If you’re studying PR or working in the field, the latest study from USC Annenberg should be on your nightstand. The report discusses the changes in the PR industry, what’s evolving, the skills needed in the new PR model, and the future direction of the industry. Here’s the summary:
PR Agency Forecast
Most PR agency executives feel positive about the future – they predict a substantial growth in the agency business over the next five years. ($14 billion to $19 billion) This means they’ll be hiring – the headcount at PR agencies is expected to increase by 26%.
The Challenge
The growth will stem from new deliverables. They will need to provide more: more strategy, more content, more channels, more creativity, and more measurement. There’s also worry about the industry’s ability to draw in the right talent, adjust to new technologies, and boost the investment needed to take advantage of these growth chances.
Both agency and corporate executives agree that this is the greatest challenge preventing them from achieving their future goals.
Corporate-side PR
Here the picture is not quite as rosy. Corporate PR budgets grew only 2.6% last year and they don’t expect that to change over the next five years. The forecast for headcount increase is just 11%.
What’s Driving the Growth?
Both agency and client-side PR pros point to
- Content creation (81%)
- Social Media (75%)
- Brand Reputation (60%)
- Media Relations (55%)
“Overall, we are sensing a continued optimism about the direction the industry is headed, which is good news for people entering the field,” said Fred Cook, Director of the USC Center for Public Relations. “If content creation is the engine for growth, the industry will need to invest in people who can develop world-class creative.”
New Skills for PR
The traditional skills are still in demand – writing, communication and strategy. But the new skills are creeping up the list. Analytics is now at 62% and SEO at 41%. You can expect to see these percentages rise as the new skills drive growth opportunities. PR executives ranked improved measurement and evaluation third on a list of 18 potential growth drivers.
Takeaway:
For PR practitioners and students: There will be more PR jobs available, but you won’t be in the running unless you learn the new skills needed: content strategy and creation (and that includes visual content) and measurement. Start adding these new skills to your resume.
For agencies and clients: Look outside your usual pool of recruits. Find talented freelancers who already have these skills, so you can get a jump start on the growth deliverables right now.