Small PR Firms 'Battered' By Recession
In 2009, two thirds of PR firms suffered from declining revenues, a new study reports. Small firms–those with revenues between $3 and $10 million were the hardest hit, with seven in ten reporting lost business.
At Hodge Schindler Integrated Communications in Chicago, owner Sally Hodge cut back on postage, switched to a four-day workweek, and “hunkered down,” reports Reuters. “The incoming calls, the queries, the pipeline just dried up totally,” Hodge told Reuters.
Other trends: agencies are relying more on freelancers and contractors rather than expanding permanently, and PR firms are now expected to do more than just publicize.
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