More and more, companies are turning to public relations for help in monitoring and understanding what’s being said about them in social media circles. A new research report from private investment firm Veronis Suhler Stevenson (a Stanton Public Relations & Marketing client) predicts strong growth for the PR segment of the U.S. Communications Industry.
The VSS Communications Industry Forecast 2011-2015 found that spending on traditional public relations reached $3.65 billion in 2010 after posting a 4.9% compound annual growth rate (CAGR) from 2005 to 2010. VSS expects PR spending to reach $5.37 billion in 2015, with an 8.0% CAGR from 2010 to 2015.
VSS believes growth in PR spending is being driven by the advent in social media, as more firms are being asked by clients to interpret the social media landscape to better understand their online reputation and what’s being said about them.
This includes strategies that promote feedback on products and services through managed campaigns that disseminate information and research its effectiveness. This has benefited from the popularity of Facebook and Twitter, which many companies are incorporating to impact their brand image.
Read more here: http://www.vssforecast.com/
Written by: Chuck Dianis
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