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During the first half of 2007, ICCO and Richmond Events commissioned a benchmarking study on PR expenditure. Unlike previous studies that simply explore the PR management structure and money spent, this research poses the question of whether the amount of money being spent - and the number of jobs it supports - is actually appropriate to achieving the desired results. Initial findings of the study were highlighted in the April 26 edition of PR Week's UK publication while more comprehensive results were presented at the Communication Directors' Forum held by Richmond Events May 7-10. Now the consultancy Gyroscope, enlisted to conduct the study, has published an interim report, which is available to all ICCO members. According to the authors: "Given the seniority and professional maturity of the survey’s respondents, these findings are deeply worrying for the PR industry. There is little doubt that despite noisy proclamations of PR’s ability to generate ‘RoI’, the industry as a whole has a poor understanding of both the ‘R’ and the ‘I’.
When planned and delivered with skill and experience, the ability of PR and corporate communications to make a specific and measurable contribution to an organisation’s objectives is not in doubt. However, until the industry – on all sides and at every level – learns to adopt more rigorous planning of desired returns and required investments, its potential will, for most organisations, continue to be wasted."
_____________________________ For more information, contact ICCO Executive Director Virginia Hague.
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