Canadian PR Firms Best U.S. Firms on Revenue, Profitability     

Canada is celebrated for many things. Maple Syrup, Niagara Falls, and Wayne Gretzky quickly come to mind. Now you can add profitable PR agencies to the list, particularly when stacked up against their U.S counterparts. Net revenue for Canadian-based firms grew a total of 21.8 percent in 2016, according to Gould+Partners 2017 PR Firm Net…
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VIDEO: The ‘Build to Sell’ Mindset

Clients are satisfied with your firm’s work. You’re on the short list to land a new (and prestigious) account. The staff is growing nicely. They’re all positive indices for creative services firm owners. But, in order to maximize the profitability and overall value of their firm, owners need to adopt a ‘Build to Sell‘ mentality….
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Gould Featured in ‘Future of PR’ Video

We continue to push online video content as a major priority for PR firms looking to grow their profitability and expand their clientele. When you consider the growing impact of online video content it’s little wonder that visual communications is starting to command both more budget and creative thinking among PR shops. Online video content,…
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Valuing Your PR Firm ‘As If’ It Were Your Home

Your home has been good to you. You have invested a chunk of money into sprucing it up throughout the years and the work has paid off nicely. You are ready to sell. As you brace for a sale you remember that tiny crack in the wall near your bedroom and some chips scattering the…
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Making Sense of Your Balance Sheet

For many PR firm owners and C-suite executives it’s often considered the management equivalent of getting root canal: Reading their balance sheet. While a growing number of PR firm owners have gotten more comfortable with reading their balance sheet, there’s still a lot to be desired in terms of owners having a solid grasp for…
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G+P Part-Time CFO Division Looks to Fill Void in PR

The positive reaction in the marketplace to our new Part Time CFO division has exceeded our expectations—and it’s little wonder. Gould+Partners launched the division because we see a huge void in the marketplace among PR firm owners to hire a CFO and get a better grip on their financial operations. Checklist for CFO Effectiveness and…
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The Dramatically Changing PR Economy

The financial onus on PR agency owners is growing like a weed. In an increasingly post-digital age, PR agency owners and C-suite executives face a dramatically changing business environment. These days the biggest challenges for agency owners and C-suite execs include whether to “build or buy,” and how to reinforce their firms financially. Those were…
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The Plague of Overservicing

Most business sectors suffer from overservicing—or working for nothing—but probably not nearly as bad as the public relations profession. Overservicing is a chronic PR problem, of course, and cost the industry precious revenue. Despite their best intentions PR firms of all sizes fail to push back when clients or prospects try to squeeze more work…
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Benchmarking Report Shows Firm Profitability Declining 

We’ve just released our latest industry benchmarking study, and the overall results aren’t very pretty. Most troubling: The industry’s overall profitability keeps falling, down to 15.3 percent in 2015, compared with 16.2 percent in 2014 and 15.8 percent in 2013. It was 18.8 percent in 2012. The results are based on 106 firms reporting their…
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3 Tips for Building Digital PR Agency

When it comes to describing their digital media capabilities, many PR agency owners and managers are cocktail-party compliant. They talk about using Facebook or Twitter in their campaigns, content marketing or new blogs. Does that make the agencies digital? “They’re not truly digital in the best sense of the term,” said Don Bates, senior counselor,…
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Why Break-up Fees Should Be the Norm in PR

A “break-up fee” is common on Wall Street if a seller or buyer backs out of a deal after considerable transaction costs and due diligence has been incurred. But for PR M&A deals gone awry? Not so much. A recent case in point regarding the breakup fee: Marriott’s potential acquisition of Starwood Hotels & Resorts…
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PR Agencies Through the Looking Glass

Similar to the nonsensical literary theme found in the 1871 sequel to Alice’s Adventures in Wonderland, the direction of the current economic landscape is quite distorted. It is only after completing Lewis Carroll’s Through the Looking Glass that the reader can make sense of the varied themes and plot devices. Unfortunately, people working in the…
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