The Importance of Social Media for Public Relations
PR professionals today are using social media to either supplement or add to their existing strategies, signaling an evolution in the role of PR over the last few years. Public relations specialists were among the first few to understand the power of social media, making them leaders in the social space. Along with handling website content, more and more PR pros are responsible for their company’s and clients’ social media presence. The gradual shift towards, what industry experts call ‘the social media release’, indicates how the traditional long form press release is changing. According to David McCulloch, director of public relations at Cisco Systems, “The press release of the future will deliver its content in text, video, SMS, microblog and podcast form, to any choice of device, whenever the reader decides, and preferably it will be pre-corroborated and openly rated by multiple trusted sources.”
eMarketer expects PR as well as ad agencies to witness an increase in their social media revenue in 2011. Findings from a joint study by the Transworld Advertising Agency Network and Worldcom Public Relations Group show: fmwhatsapp
• In 2010, 28% PR firms said that between 15-33% of their revenue came from social media.
• This number has grown by 44% in 2011.
• The study indicates that, when compared to ad agencies, the PR industry is more effective in leveraging social media.
The Road Ahead…
Industry research firm IBIS World has predicted the factors that are likely to fuel the growth of PR firms in the coming years and the expected rate of growth.
• PR firms are expected to grow at an average annualized rate of 5.7% to $12.8 billion from 2010-2015.
• This spurt will be attributed to the increase in demand by companies who want PR firms to handle daily interactions with consumers and the press on their social media sites such as Facebook and Twitter.
• The recent shift from traditional media to more direct media (social media) will result in PR firms specializing in or launching divisions devoted to blogs, social networking sites, mobile media and podcasts.
• Over four-fifths of PR firms are anticipating an increase in digital and social media work in the future.
Whether it is consulting with clients from the agency point of view or working with an in-house team, PR agencies need to be social media ready. Position² lists a few guidelines that will help your agency survive and stand out in the digital space: