By Rick Gould, CPA, JD
Wouldn’t you agree that knowing the key PR firm benchmarks by size, region & specialty would be a valuable tool in assessing your business? Wouldn’t you agree that having the actual billing rates and utilization/productivity percents of your PR industry peers can assist you in proactively managing your firm? Embrace benchmarking and gain these valuable keys to unlock profitability in your firm.
Our initial deadline for responses to our latest annual benchmarking survey was last Friday, March 22. Dozens of firms requested extensions of 2-3 weeks, and we granted all of them. Why? Because we are told year after year by the most successful PR firms that our benchmarking results guide their profitability throughout the year.
If you haven’t already participated, email me today to request an extension too. We will resend you the survey. Participants are the first to get the full results. Our survey reports help participating firms turn unprofitable businesses into profitable ones, as well as build value to the firm.
I’ve surveyed the industry about benchmarking for over 20 years. Benchmarking data can give you insight into profitable hiring, firing, rent rates, T&E expenditures, benefit offerings, operating costs and minimum monthly retainer levels. The Revenue Per Professional metric has become the most important indicator of profitability.
Take the survey today and participate by clicking on this link. I guarantee it will be worth your time.
Contact me directly with questions or comments: direct line 212-896-1909, or [email protected].