C. Renzi Stone, CEO of Saxum Public Relations, a $2 million revenue firm based out of Oklahoma City, has some bold predictions for 2010, especially when it comes to social networking. “MySpace was alive and in control of the social space in 2007. A new player will emerge to challenge Facebook supremacy,” he told PRNewser.
On business prospects for 2010:
We will not be up because current clients are raising their budgets to pre-recession levels. Current client budgets will likely remain flat to slightly up. We will be up because we have invested in training and hiring top human capital and developing intellectual property in 2009 – all in speculative anticipation for the rebound. My best new business indicator – as always – is how many proposals we have sent out. In December alone, we generated more proposals than July through November combined.
On PR M&A activity in 2010:
Acquisitions follow capital which follows confidence. Public relations still needs to build mainstream (read: CEO and private equity) confidence in our new-found acceptance as the prominent player in the overall marketing mix. There will be more acquisitions in 2010 than 2009. There will be more acquisitions in 2011 than 2010.