Over 150 communications and PR leaders from all around the world gathered in Milan last week to attend the International Communications Consultancy Organisation (ICCO) Global Summit. This year’s theme was “Food For Thought” and explored how consultancies and communicators are surviving and thriving in our changing world. SERMO president, Tanya Hughes, joined the heads of some of the biggest independent agency networks for the “Going Global 2.0″ panel discussion. Here are her top eight take outs from the conference on the state of the global PR industry:
The two biggest drivers of change in the PR industry are the rise of social media and PR’s increased presence at Cannes Lions – the world authority on creativity in communication, still dominated by ad agencies, but changing fast.
AVEs RIP! PR must deliver business results. Ask yourself if your account teams know the share price of their clients.
Corporate and brand reputation are now indivisible – marketing and communications are converging. It’s estimated that 60% of market value can be attributed to reputation.
And the CEO’s reputation matters. Successful CEOs must now fulfil a public engagement mandate. For PR agencies too, the CEO must embody the brand.
Agencies need to restructure to attract young talent – millennials are demanding: they want best possible technology, equality and diversity, customisation, rewards beyond salary, mentoring, a ‘noble’ purpose, recognition access to leadership and empowerment.
Over 400 hours of video are uploaded per minute on to YouTube. To have stand out your content needs to appeal to a community (spark and be part of a conversation), engage (hit on a passion point) and have authentic value (entertainment, inspiration, education).
Video series are a big trend on YouTube.
PR agencies give 20% of their work away. They like to be liked, but the more they give clients, the more they’ll want. That means Fridays are free!