Due to a substantial increase in time commitments and deadlines devoted to M&A services, Gould+Partners has made a key change regarding participation in its annual Best Practices Benchmarking survey, which tracks financial and management indices for the PR industry.
After 30 years of conducting the Benchmarking survey—previously open to all firms in North America and requiring in excess of 200 hours of time annually—We have decided to limit participation in the survey to existing M&A clients, retainer consulting clients and buyers of seller clients.
“These are ‘Best in Class’ firms,” says Rick Gould, CPA, J.D., managing partner of Gould+Partners, referring to the firms who will now engage with the survey. “They are profitable firms, with adequate tiers of executive staff, proactive billing rates, solid utilization/productivity stats and other management policies that all PR firm owners should emulate. They are ‘Model Firms.'”
For the 2018 Benchmarking survey, which will be distributed February 5th, we will tailor the results for each participating client firm and point out areas of concern, such as how the firm stacks up against competitors similar in size, region and PR specialty.
“We will use the new survey format as an intricate basis for our Retainer Consulting Program and part of our 360-degree approach to Strategic Consulting services,” Gould says. “It will also help to inform and sharpen our ‘Build to Sell’ program, which we recently updated.”
Gould+Partners, “Best Practices Benchmarking Report and Billing Rates/Utilization Report” initially will be issued only to participating PR firms. The survey will be posted on Gould+Partners website 45 days after the proprietary firm release.
If you have questions or comments concerning the change, please feel free to email Rick Gould or call him directly, 212.896.1909.
Gould+Partners provides consulting services for Public Relations Firms and Creative Services Agencies for increased profitability and is the PR industry source for key profitability benchmarking statistics/insights and successful mergers & acquisitions (M&A) transactions. The firm represents both buyers and sellers in the creative services industry. From our experience gathering and evaluating relevant statistics and insights, we are uniquely qualified to advise and counsel our clients on what is needed to grow and become best in class. Consulting Digital and Public Relations Firms to a new level of success is our specialty and privilege.
Rick Gould, CPA, J.D.,
Matthew Schwartz, Editorial Director