Public Relations Procurement Intelligence

In this public relations procurement intelligence report, we have estimated the key cost components which include labor, technology (hardware/software), rent and utilities, advertisement and marketing, training, and others. Other costs include administrative fees, travel expenses, maintenance repair, insurance, and tax.

Key factors that influence the rates of services offered in the industry include geographic location, experience and expertise of the team, scope of services, agency size, payment terms, and technological capabilities. Larger organizations typically charge more for their greater resources and wider choice of services. In addition, service providers with a focus on highly regulated or technical sectors, like healthcare or finance, would need more time and experience to produce successful PR campaigns.

Fixed-fee pricing is one of the prominent pricing structures followed in the industry. This model operates by having a mutually understood and explicit understanding between the client and the service provider regarding the service's scope, quality, and schedule. Key advantage of this model is that since both the parties are aware of the exact amount they will pay or get for the services; it offers clarity and openness. This promotes productivity and efficiency while lowering the need for tracking and monitoring.

Order your copy of the Public Relations category procurement intelligence report 2024-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis

Operational Capabilities - Public Relations

• Industries Served - 25%
• Years in Service - 20%
• Geographic Service Provision - 20%
• Revenue Generated - 10%
• Employee Strength - 10%
• Regulatory Certifications - 10%
• Key Clients - 5%

Functional Capabilities - Public Relations

• Investor Relations - 18%
• Public Affairs - 18%
• Event Management - 18%
• Crisis Management - 18%
• Corporate Communications - 18%
• Others - 10%

Rate Benchmarking

Service providers situated in various nations may charge varying charges for their services for a variety of reasons, including local marketing conditions, currency exchange rates, and cost of living. For instance, because of the higher cost of living and fluctuating currency exchange rates, a service provider based out of North America is probably going to charge more in comparison to one based out in India. Companies that are open to collaborating on PR projects with distant teams could save money. In 2023, the average cost per hour for different regions stood as below:

• S.: USD 99 to USD 148
• K. USD 149 to USD 198
• India: USD 24 to USD 48
• Australia: USD 99 to USD 148

To gain a comprehensive understanding of other aspects of rate benchmarking, please subscribe to our services and get access to the complete report.

Supplier Newsletter

• In June 2024, WPP plc announced the merger of its two biggest communications firms, Hill Knowlton and BCW, to become ‘Burson’, in honor of the late Harold Burson, a trailblazer and founding member of contemporary public relations and strategic communications. The new brand ‘Burson’ will witness the operational presence in over 42 nations across the globe, with over 5,900 employees.
• In December 2023, Daniel J. Edelman Holdings, Inc. announced the acquisition of Landmark Public Affairs. With the purchase of Landmark, Edelman is better positioned to offer its clients more services while leveraging Landmark’s assets in Asia, the US, and Europe. This acquisition advances Edelman’s objective of becoming one of the world's most reputable consulting organizations.
• In October 2023, WPP plc announced the merger of two of its brands – VMLYR and Wunderman Thompson. The combined entity is known as VML. VML possesses the resources necessary to assist clients with innovative brand growth strategies and transformation projects. These resources come from collaborations with top technology companies, best-in-class data operations, and technological platforms.

List of Key Suppliers

• Coyne Public Relations, LLC
• Daniel J. Edelman Holdings, Inc.
• FINN Partners
• Fleishman-Hillard Group Limited
• Interpublic Group of Companies, Inc.
• Ketchum, Inc.
• Ogilvy
• Omnicom Group Inc.
• PR Consulting Dentsu Inc.
• Publicis Groupe S.A.
• Weber Shandwick
• WPP plc

Browse through Grand View Research’s collection of procurement intelligence studies:

• Loyalty Programs Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement Operating Model, Competitive Landscape)
• Helium Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement Operating Model, Competitive Landscape) 

Public Relations Procurement Intelligence Report Scope 

• Public Relations Category Growth Rate : CAGR of 6.85% from 2024 to 2030 

• Pricing Growth Outlook : 5% - 10% increase (Annually) 

• Pricing Models : Fixed-fee pricing, Hourly-based pricing 

• Supplier Selection Scope : Cost and pricing, Past engagements, Productivity, Geographical presence 

• Supplier Selection Criteria : Industries served, years in service, geographic service provision, revenue generated, employee strength, regulatory certifications, key clients, investor relations, public affairs, event management, crisis management, corporate communications, and others 

• Report Coverage : Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model 

Our services include (not limited to):

 Market Intelligence involving – market size and forecast, growth factors, and driving trends

• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions

Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.