State of Public Relations in 2011 — Rosanna Fiske Presentation

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State of Public Relations in 2011 — Rosanna Fiske Presentation

  1. 1. 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
  2. 2. Vibrant Period for PR <ul><li>Despite economic woes, PR industry rapidly growing </li></ul><ul><ul><li>Poised for 55% growth in domestic spending by 2013 </li></ul></ul><ul><ul><ul><li>Will hit $8 billion in U.S. spending </li></ul></ul></ul><ul><ul><li>Spending on advertising in U.S. dropped by 3% in 2008 & 8% in 2009 </li></ul></ul><ul><ul><li>Two key factors leading growth: </li></ul></ul><ul><ul><ul><li>Word-of-mouth communications & social media/digital services </li></ul></ul></ul><ul><li>Source: 2010 Veronis Suhler Stevenson Communications Industry Forecast </li></ul>Miami PRSA – April 8, 2009
  3. 3. What’s Guiding the Industry … And PRSA <ul><li>Business Value of Public Relations </li></ul><ul><ul><li>Increased value of PR due to reputational & market challenges </li></ul></ul><ul><li>Modernizing Traditional Ethical Standards </li></ul><ul><ul><li>Every week, new technologies & channels come online </li></ul></ul><ul><ul><ul><li>How well do our ethical standards work for today’s modern marketing challenges? </li></ul></ul></ul><ul><li>Diversity in the Profession </li></ul><ul><ul><li>Hispanic market offers immense opportunities to test innovative public relations practices </li></ul></ul>Miami PRSA – April 8, 2009
  4. 4. What Today’s CEOs Most Want <ul><li>Reputation Management </li></ul><ul><ul><li>Ask the public: CEOs need better reputations </li></ul></ul><ul><ul><ul><li>2011 Edelman Trust Barometer found that trust in U.S. businesses down to 46% </li></ul></ul></ul><ul><ul><ul><ul><li>Barely higher than last-place Russia </li></ul></ul></ul></ul><ul><ul><li>2009 McKindsey study found that reputation risk was top concern of CEOs </li></ul></ul><ul><ul><ul><li>50 percent of CEOs feel unprepared for managing reputational threates </li></ul></ul></ul>Miami PRSA – April 8, 2009
  5. 5. New Reality in Reputation Management <ul><li>Year of the “Gotcha!” Moment </li></ul><ul><ul><li>November Forbes article reveals WikiLeaks planning mass assault on corporations </li></ul></ul><ul><ul><li>New, transient whistle-blower groups popping up everywhere </li></ul></ul><ul><ul><ul><li>WikiLeaks is best known, but watch out for OpenLeaks, Brilliant Yes Men, etc. </li></ul></ul></ul><ul><li>Technology, Not Insight & Experience, Dictates Reputation Management </li></ul><ul><ul><li>Like it or not, we’re largely at the whim of technology we’ve readily embraced </li></ul></ul>Miami PRSA – April 8, 2009
  6. 6. Public Relations Opportunities <ul><li>Trust in American businesses drops to 46% … </li></ul>Miami PRSA – April 8, 2009 … But growing strong in global markets, especially BRIC countries Source: 2011 Edelman Trust Barometer
  7. 7. The Ethical Approach: Disclosure <ul><li>We must advise clients & employers to be transparent as possible </li></ul><ul><ul><li>Doesn’t mean taking unnecessary risks with information </li></ul></ul><ul><ul><li>Confidentiality still matters & should be respected </li></ul></ul><ul><ul><li>Now is about communicating how you manage a business </li></ul></ul>Miami PRSA – April 8, 2009
  8. 8. Image vs. Reputation <ul><li>Paradoxically, image often matters more than reputation </li></ul><ul><ul><li>Reputation is hard-earned; image can often be fleeting </li></ul></ul><ul><ul><li>2010 Inc. magazine article noted that 60 percent of employees don’t trust executives to turn business around </li></ul></ul><ul><ul><li>Commitment to building reputation is antidote to crowded & hyper marketplace of ideas, products & services </li></ul></ul>Miami PRSA – April 8, 2009
  9. 9. Trust in CEOs: Credibility Matters <ul><li>Trust in CEO as credible resource on rise in U.S. & globally </li></ul><ul><ul><li>Stands at 34% in U.S. & 50-plus globally </li></ul></ul><ul><ul><li>CEOs benefitting from transparency in communications </li></ul></ul><ul><ul><li>CEO is more than manager — chief communicator of how business is ethically managed </li></ul></ul>Miami PRSA – April 8, 2009 Source: 2011 Edelman Trust Barometer
  10. 10. WikiLeaks: Public Enemy No. 1? <ul><li>Yes … and No. </li></ul><ul><ul><li>Viewing WikiLeaks as enemy threat to biz would be mistake </li></ul></ul><ul><ul><li>Should be seen as an opportunity </li></ul></ul><ul><ul><ul><li>Global call to action for more corporate transparency </li></ul></ul></ul><ul><ul><li>Still, significant corporate reputational threats on the horizon </li></ul></ul>Miami PRSA – April 8, 2009
  11. 11. Modern Ethics for Modern Business Challenges <ul><li>Traditional Ethical Standards Must Meet Today’s Marketing Challenges </li></ul><ul><ul><li>PR’s rapid & successful adoption of technology </li></ul></ul><ul><ul><ul><li>Dramatically increased our value </li></ul></ul></ul><ul><li>Increased value comes with increased responsibility </li></ul><ul><ul><li>We must rewrite the rules of engagement </li></ul></ul><ul><ul><ul><li>Bring ethical standards up to speed with today’s challenges & opportunities </li></ul></ul></ul>Miami PRSA – April 8, 2009
  12. 12. Disclosure in Digital Age <ul><li>We’re in an era where disclosure in digital/social comms isn’t in vogue </li></ul><ul><ul><li>Disclosure of relationships, motivation & compensation </li></ul></ul><ul><ul><li>Take reasonable steps to inform consumers </li></ul></ul><ul><ul><li>Provide links to info on all uses for data </li></ul></ul><ul><ul><li>Where material connections exist btw. brand & bloggers </li></ul></ul>Miami PRSA – April 8, 2009
  13. 13. Diversity in the Profession <ul><li>Not just a catch-all anymore — now core focus of PRSA’s advocacy </li></ul><ul><ul><li>Members tell us diversity in PR key to driving agency & business growth </li></ul></ul><ul><ul><li>Businesses seeking more global perspective to comms & marketing </li></ul></ul>Miami PRSA – April 8, 2009
  14. 14. The Business Value of Diversity <ul><ul><li>“ 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.”  </li></ul></ul><ul><ul><li>— Larry Jones, PRSAY blog, Feb. 1, 2011 </li></ul></ul>Miami PRSA – April 8, 2009
  15. 15. Business Value of PR Research <ul><li>Like Diversity, Research in PR Has Progressed … </li></ul><ul><ul><li>… Still, there is more that should be done </li></ul></ul><ul><ul><li>Funding for PR research & education remains in its infancy </li></ul></ul><ul><ul><ul><li>Only $15 million devoted in 2010 </li></ul></ul></ul>Miami PRSA – April 8, 2009
  16. 16. PR Grows as Business Recovers <ul><li>State of the public relations industry is vibrant </li></ul><ul><ul><li>Advanced technology, diverse business community & demand for ethical comms all increasing role PR plays </li></ul></ul><ul><ul><li>PRSA at forefront, advocating on behalf of members & the profession </li></ul></ul>Miami PRSA – April 8, 2009
  17. 17. Thank you! <ul><li>Any questions? </li></ul>Miami PRSA – April 8, 2009

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