Economists are predicting that for most industries, there is finally a light at the end of the tunnel. But in the public relations sector, the tunnel was never very dark. According to The Economist, public relations not only survived, but thrived during the past two years of the economic downturn. Citing data from private-equity firm, Veronis Suhler Stevenson, The Economist reports that spending on public relations in America grew by more than 4% in 2008 and nearly 3% in 2009 to $3.7 billion.

A few key findings from the article for the success of PR during the downturn:

  • PR has benefited from a shifting media landscape. With the demise of many traditional media outlets, there are fewer journalists covering business—making PR even more important to attract attention from journalists.
  • PR’s ability to capitalize upon social media outreach—particularly to bloggers—has helped their clients “get the word out.” In fact, spending on such outreach increased by more than 10% in 2009.
  • PR is less expensive than mass advertising campaigns—and PR firms are moving into the territory of advertising agencies. Not only do PR firms work to get their clients mentioned in traditional media, but they are now handling items such as launches and events.

For more insight into how public relations firms have helped their clients prosper during this difficult economic time—while succeeding themselves—see the full article, “Public Relations in the Recession,” in the January 14, 2010 issue of The Economist.

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