|
The traditional PR Agency is in danger of becoming a dying breed unless it understands the requirements of a growing number of startups and SMEs. So what does this mean for an SME looking to start PR?
We are all aware of how difficult it is for even the conglomerates in these tough times, but for many SMEs it feels even harder as they fight to keep their heads above water. However, many experts are advising companies to focus more on marketing and to increase activity levels in order to benefit from others’ business misfortunes, with the ultimate goal to come out from the downturn a cut above the rest.
Whilst this theory is practical and wise, in reality it can be very expensive and difficult to achieve. PR is considered by many to be the most cost-effective form of marketing, so you would expect PR agencies to be thriving, or at the very least holding their own, in this climate. However, as many start-ups and SMEs look carefully at budgets, they are aware that they can save money by choosing the right kind of PR support - or by doing it themselves. Traditional is Impractical
Traditional PR agencies are not designed to effectively support a small or medium-sized company, or to work on smaller projects.
In essence, these agencies are tailored for big clients that provide a large, regular retainer. They are structured with senior management that would pitch for the business, but would hardly be seen again; instead client teams are usually staffed by account managers that do the work and juniors that fill in the reports and learn on the job.
With expensive offices to maintain and a team of people who need to be kept busy, no matter what their actual skills and experience are, for an SME a traditional agency will often mean an expensive retainer and a junior team that doesn’t always understand the business objectives.
In the good times when budgets were higher, this system worked as agencies would squeeze smaller clients in with the bigger ones and could get one or two pieces of great coverage per year that made it all worthwhile.
However, with reducing budgets the traditional agency no longer seems appealing for SMEs. The traditional PR agency is struggling because it lacks the ability to be able to offer flexible projects and contracts to suit smaller business needs, which is exactly what is required in today’s market.
What’s the best choice for you?
If you’re looking to start a PR campaign then there are a number of choices as to how it could be managed. It’s still worth looking at a traditional agency as the size and scope it can offer might suit you – especially if you are happy with the pricing and lack of flexibility. Alternatively you could look to run your own PR campaign.
However, there is a middle ground to consider as well. The concept of virtual PR agencies is on the rise, just as the traditional agency concept is on the decline. These virtual agencies use the skills and experience of freelance account managers/directors to create the most cost-effective PR solution for their clients.
This means that SMEs can now flexibly employ PR officers and teams through virtual hubs, tailoring PR campaigns to suit the needs of the company at the time. Most importantly, this means small companies are paying for team ‘A’ and not team ‘D’ for the fraction of the price. Moreover, these virtual agencies offer PR projects with no contracts, which means that PR is affordable, adaptable and now more flexible and cost effective than ever-before.
Patrick Smith is Founder of virtual PR Agency, Joshua PR (www.joshuapr.com), created after identifying a gap in the market for SMEs.
 |
digg 
del.ico.us 
Newsvine 
Reddit 
Furl 
technorati 
Subscribe to this comment's feed
