State of Public Relations in 2011 — Rosanna Fiske Presentation

The State of Public Relations: Corporate Trust & Transparency in the ‘WikiLeaks Age’ PRSA Miami — Feb. 15, 2011 Rosanna M. Fiske, APR Chair and CEO, PRSA

Vibrant Period for PR
Despite economic woes, PR industry rapidly growing
Poised for 55% growth in domestic spending by 2013
Will hit $8 billion in U.S. spending
Spending on advertising in U.S. dropped by 3% in 2008 & 8% in 2009
Two key factors leading growth:
Word-of-mouth communications & social media/digital services
Source: 2010 Veronis Suhler Stevenson Communications Industry Forecast
Miami PRSA – April 8, 2009

What’s Guiding the Industry … And PRSA
Business Value of Public Relations
Increased value of PR due to reputational & market challenges
Modernizing Traditional Ethical Standards
Every week, new technologies & channels come online
How well do our ethical standards work for today’s modern marketing challenges?
Diversity in the Profession
Hispanic market offers immense opportunities to test innovative public relations practices

What Today’s CEOs Most Want
Reputation Management
Ask the public: CEOs need better reputations
2011 Edelman Trust Barometer found that trust in U.S. businesses down to 46%
Barely higher than last-place Russia
2009 McKindsey study found that reputation risk was top concern of CEOs
50 percent of CEOs feel unprepared for managing reputational threates

New Reality in Reputation Management
Year of the “Gotcha!” Moment
November Forbes article reveals WikiLeaks planning mass assault on corporations
New, transient whistle-blower groups popping up everywhere
WikiLeaks is best known, but watch out for OpenLeaks, Brilliant Yes Men, etc.
Technology, Not Insight & Experience, Dictates Reputation Management
Like it or not, we’re largely at the whim of technology we’ve readily embraced

Public Relations Opportunities
Trust in American businesses drops to 46% …
Miami PRSA – April 8, 2009 … But growing strong in global markets, especially BRIC countries Source: 2011 Edelman Trust Barometer

The Ethical Approach: Disclosure
We must advise clients & employers to be transparent as possible
Doesn’t mean taking unnecessary risks with information
Confidentiality still matters & should be respected
Now is about communicating how you manage a business

Image vs. Reputation
Paradoxically, image often matters more than reputation
Reputation is hard-earned; image can often be fleeting
2010 Inc. magazine article noted that 60 percent of employees don’t trust executives to turn business around
Commitment to building reputation is antidote to crowded & hyper marketplace of ideas, products & services

Trust in CEOs: Credibility Matters
Trust in CEO as credible resource on rise in U.S. & globally
Stands at 34% in U.S. & 50-plus globally
CEOs benefitting from transparency in communications
CEO is more than manager — chief communicator of how business is ethically managed
Miami PRSA – April 8, 2009 Source: 2011 Edelman Trust Barometer

WikiLeaks: Public Enemy No. 1?
Yes … and No.
Viewing WikiLeaks as enemy threat to biz would be mistake
Should be seen as an opportunity
Global call to action for more corporate transparency
Still, significant corporate reputational threats on the horizon

Modern Ethics for Modern Business Challenges
Traditional Ethical Standards Must Meet Today’s Marketing Challenges
PR’s rapid & successful adoption of technology
Dramatically increased our value
Increased value comes with increased responsibility
We must rewrite the rules of engagement
Bring ethical standards up to speed with today’s challenges & opportunities

Disclosure in Digital Age
We’re in an era where disclosure in digital/social comms isn’t in vogue
Disclosure of relationships, motivation & compensation
Take reasonable steps to inform consumers
Provide links to info on all uses for data
Where material connections exist btw. brand & bloggers

Diversity in the Profession
Not just a catch-all anymore — now core focus of PRSA’s advocacy
Members tell us diversity in PR key to driving agency & business growth
Businesses seeking more global perspective to comms & marketing

The Business Value of Diversity
“ By incorporating different types of voices to tell an organization’s story, it can only enrich the communications capabilities while adding to the creative mix. Diversity in communications also can mean building bridges to new audiences or tapping into new perspectives and ideas.”
— Larry Jones, PRSAY blog, Feb. 1, 2011

Business Value of PR Research
Like Diversity, Research in PR Has Progressed …
… Still, there is more that should be done
Funding for PR research & education remains in its infancy
Only $15 million devoted in 2010

PR Grows as Business Recovers
State of the public relations industry is vibrant
Advanced technology, diverse business community & demand for ethical comms all increasing role PR plays
PRSA at forefront, advocating on behalf of members & the profession

Thank you!
Any questions?

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State of Public Relations in 2011 — Rosanna Fiske Presentation

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State of Public Relations in 2011 — Rosanna Fiske Presentation Presentation Transcript