Sydney, November 26, 2018
The results of the 2018 PR consultancy industry benchmarking study will be unveiled at the annual PRIA Registered Consultancy Group Leaders Forum on November 30 in Sydney.
The study is now in its 18th year.
Some results released ahead of the conference show that last year there was a 13 percent growth in revenue compared to 2016/17. This is the biggest average top-line growth in revenue in the last ten years.
In addition, the firms that are planning to grow are forecasting growth of 15 percent on average, which if achieved would set a new benchmark for the sector.
The study also revealed that 17 percent of consultancies are looking to hire into executive leadership positions.
It showed that communication consultancies are successfully moving into digital, social, marketing communications, design, advertising and other areas, with traditional media relations accounting for only 51 percent of revenue in 2017/18.
More than 72 pages of other business benchmark metrics will be shared at the PRIA Leaders Conference on November 30 in Sydney.
Adam Benson, PRIA Benchmark Program Manager and immediate past-Chair of the RCG said, “This year’s study was unique because, for the first time, we opened it up to the entire communication consultancy sector. We also invite non-RCG members to participate and join us at this year’s conference to discuss the results.
“We want to ensure our data scales over time and represents a greater cross section of the PR industry.
“Second, for the first time we offered a scaled down version of the survey for firms trading less than $1 million in turnover, so it was easier for them to participate. It is a very detailed study and we listened to the feedback from our smaller members asking for a way to let them contribute keystone metrics only and still receive a personalised report”
The PRIA-funded study is delivered by research firm YouGov Galaxy.
Results are grouped by consultancy turnover size, helping firms compare their individual results against aggregated peer group results to better understand their own business performance and possible areas of improvement.
This year’s conference is open to member and non-member CEOs of PR consultancies.
PRIA Registered Consultancy Group – Benchmark Program Manager
(+61 2 92 52 2266)