Progressive public relations agencies are rapidly modernising. They are embracing new skills in data, research and paid media, and are investing in creative teams.
The public relations agency sector is strong. Profits are healthy in well-managed businesses, and the market overall is growing according to both the PRCA and ICCO.
Innovation is everywhere in practice from freelancers through to the largest agencies.
However one area in which there remains surprisingly little innovation is around billing models. The dominant structure continues to be fees charged on an hourly basis, albeit on retainer or project basis.
These are the headline findings of this #FuturePRoof project on the future of the public relations agency, backed by ICCO and the PRCA.
You'll find eight drivers of change in the agency business identified by this project, outlined in this report. We hope that you find it useful.