Paul Holmes, author of The Holmes Report, recently wrote about the global pr agency business. It appeared in his July 23rd issue. The report was a roundup on how the pr business was faring and prognosis for the future. Luckily for those of us in the business, the news was very good. The business is growing. According to Holmes, "What emerged was robust evidence of an important global business, one generating at least $7 billion in fee income annually, employing in excess of 50,000 people, and growing by at least 8.5 percent a year."
What struck me most -- no surprise -- was his finding about expectations for the future. Holmes said that he asked heads of pr agencies where they saw the greatest growth. He said that without a doubt all agreed that corporate reputation management offered the greatest potential. Two-thirds of PR principals around the world identified corporate reputation management at the top of the list followed by digital public relations and from what I understood in his write-up, technology and healthcare more or less tied for third.
From where I sit in the reputation world, everything that matters is about reputation today. There does not seem to be a day that passes that reputations are not being built or torn down. I agree with the finding that reputation management will be the greatest challenge of the next five years and beyond.
reputation management, Paul Holmes, Holmes Report, corporate reputation, pr industry, future