PR Industry is nowhere to go and will continue to grow rapidly

With the digital wave spreading all across the nation, the industries have switched most of their work from touch, feel and visit world to all virtual to keep up their competitiveness on a global level. Speculations are rife that with the digital booming, the downfall of Public Relations (PR) is to happen very soon. Thankfully, to the benefit of the professionals working in the PR industry, PR is nowhere to go and it will remain there till the very end of businesses. And, the recent PR industry report by Public Relations Consultants Association of India stating the industry value to double up and be at INR 2,100 Cr by 2020 confirms the constant growth of the industry and impending evolution of the PR industry in the coming future.

The digital has surely transformed the way PR campaigns and activities are happening these days but the fundamentals are still the same. Hence, instead of being dead, the PR world is still breathing and evolving with the advent of newer services like social media and digital platforms. While fundamental PR campaigns and activities will drive the future growth, other forms, such as social media, digital, and content-driven campaigns are going to be credited for nearly 25 percent of the revenues. Hence, far from being dead, the world of public relations is growing and evolving, especially with the advent of newer services like digital and social media.  

The growth predictions of PR industry are not just based on vague promises but are instead part of a deep and detailed research done after analyzing the status of various industries linked to the genre of Public Relations. The Information & Communication Technology tops the list of contributing sectors and is providing around 20% of the overall revenues accrued by the PR Industry. Firms providing financial services have contributions of around 12% while the third in contribution line is the consumer goods sector that provides nearly 9% for this sector. To clear the picture of past it’s better to take a step back and analyze the past performances and then take a step forward. The previous charts of the PR sector also registered an industrial growth of 13% in 2016 and 19% in 2017. This clears out the scene and provides a righteous view for PR experts. In fact, with more and more technological transformations taking place in public relations, the industry will continue to remain relevant and become innovative and creative in serving the diverse and dynamic needs of their clients.

In the present scenario, one simply can’t deny the PR practices and along with it’s also extremely important to rope in the righteous PR agency that carves out the best of the PR campaign as per the needs and budget and pitches in the right media channels to touch in the right audiences like that of industry leaders, investors, customers and VCs.