Compensation: Clients Who Fit the Bill

Healthy client relations are the lifeblood for PR agencies. Every client is unique, of course, with disparate needs, and PR agency owners often must take pains to provide those services, as well as a trust-based relationship. When it comes to effectively serving clients, one size doesn’t fit all. The same holds true for agency billing….
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Psychological Buy-in Critical for Exit Strategy

Amid the dramatic and ongoing changes within the marketing communications industries is the accelerating rate of M&A transactions within the PR field. PR firm owners, including heads of boutiques, smaller shops and mid-size firms, are giving more serious consideration to selling. Many of these owners are products of the baby-boom generation and would like to…
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The Value of Human Capital

The term “Human Capital” is offensive to some. They see it as treating people as material objects. I hope to build a greater appreciation that the character, competence and commitment of a firm’s professional talent has a major impact on its valuation in an M&A situation.  That acknowledgement, together with other recommendations, are intended to…
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VIDEO: Millennial PR Firm Owners Carve New Niche

We were chatting with a top PR executive recently when we mentioned the proliferating number of PR firms owned by millennials, or people born between the early 1980s and 2000. The executive—a real pro—expressed skepticism. That’s fine, we said. But we also stressed to this executive to keep a close eye on the space. While…
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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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Webinar: Millennials Eager to Lead, Willing to Learn

Millennials and older PR executives have a great deal to learn from one another. By collaborating more effectively they can bolster the value of their firm, break into emerging markets and land new clients. They just need to put their suspicions of one another aside and not let stereotypical thinking get the better of them….
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Millennial PR Firm Owners Destined to Shake Up Industry

(This article originally ran on odwyerpr.com.) Millennial communicators can’t catch a break. As they occupy a growing part of the PR field, this demographic bears the brunt of withering criticism from some of their elders regarding their work ethic and general attitude. We frequently hear from older PR firm owners about the challenges of both…
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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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The PR Trifecta: Growth, Profitability and Billing Rates Stalling 

In light of this solar eclipse this week, the constellations have started to align for the PR industry. But it’s not a pretty picture, with all the major financial indices down and little sign that the industry has started to make headways in order to reverse the declines. Just check out the tale of the…
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Gould+Partners Billing Rates/Utilization Report Cause for Concern

NEW YORK, NY, July 6, 2017—North American PR agencies and firms did not increase their hourly rates in 2016, according to a new report released by Gould+Partners, the management consulting firm specializing in PR and PR M&A. The outlook for hourly rates should be cause for concern among PR firm owners grappling with boosting profitability and increasing valuation,…
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How Should PR Firms Plan for the End Game?

(This article originally appeared in the June issue of  O’Dwyer’s) The PR M&A process is seldom easy. But as the public relations industry has evolved and become more complex, so too has the PR M&A process. When sellers sit down with buyers these days there are sharper and more difficult questions coming from both sides of…
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