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PR
SA
Mia
mi The State of Public Relations:
Corporate Trust & Transparency in the
‘WikiLeaks Age’
The State of Public Relations: Corporate Trust &
Transparency in the ‘WikiLeaks Age’
PRSA Miami — Feb. 15, 2011
Rosanna M. Fiske, APR
Chair and CEO, PRSA
PR
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Vibrant Period for PRVibrant Period for PRDespite economic woes, PR industry rapidly
growing
Poised for 55% growth in domestic spending by 2013
Will hit $8 billion in U.S. spending
Spending on advertising in U.S. dropped by 3% in 2008 & 8% in 2009
Two key factors leading growth:
Word-of-mouth communications & social media/digital services
Source: 2010 Veronis Suhler Stevenson Communications Industry Forecast
Despite economic woes, PR industry rapidly growing
Poised for 55% growth in domestic spending by 2013
Will hit $8 billion in U.S. spending
Spending on advertising in U.S. dropped by 3% in 2008 & 8% in 2009
Two key factors leading growth:
Word-of-mouth communications & social media/digital services
Source: 2010 Veronis Suhler Stevenson Communications Industry Forecast
Miami PRSA – Feb. 15, 2011
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What’s Guiding the Industry … And PRSAWhat’s Guiding the Industry … And PRSABusiness Value of Public Relations
Increased value of PR due to reputational & market challenges
Modernizing Traditional Ethical Standards
Every week, new technologies & channels come online
How well do our ethical standards work for today’s modern marketing challenges?
Diversity in the Profession
Hispanic market offers immense opportunities to test innovative public relations practices
Business Value of Public Relations
Increased value of PR due to reputational & market challenges
Modernizing Traditional Ethical Standards
Every week, new technologies & channels come online
How well do our ethical standards work for today’s modern marketing challenges?
Diversity in the Profession
Hispanic market offers immense opportunities to test innovative public relations practices
Miami PRSA – Feb. 15, 2011
PR
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What Today’s CEOs Most WantWhat Today’s CEOs Most WantReputation Management
Ask the public: CEOs need better reputations
2011 Edelman Trust Barometer found that trust in U.S. businesses down to 46%
Barely higher than last-place Russia
2009 McKindsey study found that reputation risk was top concern of CEOs
50 percent of CEOs feel unprepared for managing reputational threates
Reputation Management Ask the public: CEOs need better reputations
2011 Edelman Trust Barometer found that trust in U.S. businesses down to 46%
Barely higher than last-place Russia
2009 McKindsey study found that reputation risk was top concern of CEOs
50 percent of CEOs feel unprepared for managing reputational threates
Miami PRSA – Feb. 15, 2011
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New Reality in Reputation ManagementNew Reality in Reputation ManagementYear of the “Gotcha!” Moment
November Forbes article reveals WikiLeaks planning mass assault on corporations
New, transient whistle-blower groups popping up everywhere
WikiLeaks is best known, but watch out for OpenLeaks, Brilliant Yes Men, etc.
Technology, Not Insight & Experience, Dictates Reputation Management
Like it or not, we’re largely at the whim of technology we’ve readily embraced
Year of the “Gotcha!” Moment November Forbes article reveals WikiLeaks
planning mass assault on corporations
New, transient whistle-blower groups popping up everywhere
WikiLeaks is best known, but watch out for OpenLeaks, Brilliant Yes Men, etc.
Technology, Not Insight & Experience, Dictates Reputation Management
Like it or not, we’re largely at the whim of technology we’ve readily embraced
Miami PRSA – Feb. 15, 2011
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Public Relations OpportunitiesPublic Relations OpportunitiesTrust in American businesses drops to 46%
…Trust in American businesses drops to 46%
…
Miami PRSA – Feb. 15, 2011
… But growing strong in global markets, especially BRIC countries
Source: 2011 Edelman Trust Barometer
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The Ethical Approach: DisclosureThe Ethical Approach: DisclosureWe must advise clients & employers to
be transparent as possible Doesn’t mean taking unnecessary risks with
information
Confidentiality still matters & should be respected
Now is about communicating how you manage a business
We must advise clients & employers to be transparent as possible
Doesn’t mean taking unnecessary risks with information
Confidentiality still matters & should be respected
Now is about communicating how you manage a business
Miami PRSA – Feb. 15, 2011
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Image vs. ReputationImage vs. ReputationParadoxically, image often matters
more than reputation Reputation is hard-earned; image can often
be fleeting
2010 Inc. magazine article noted that 60 percent of employees don’t trust executives to turn business around
Commitment to building reputation is antidote to crowded & hyper marketplace of ideas, products & services
Paradoxically, image often matters more than reputation
Reputation is hard-earned; image can often be fleeting
2010 Inc. magazine article noted that 60 percent of employees don’t trust executives to turn business around
Commitment to building reputation is antidote to crowded & hyper marketplace of ideas, products & services
Miami PRSA – Feb. 15, 2011
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Trust in CEOs: Credibility MattersTrust in CEOs: Credibility MattersTrust in CEO as credible resource on rise in
U.S. & globally Stands at 34% in U.S. & 50-plus globally
CEOs benefitting from transparency in communications
CEO is more than manager — chief communicator of how business is ethically managed
Trust in CEO as credible resource on rise in U.S. & globally
Stands at 34% in U.S. & 50-plus globally
CEOs benefitting from transparency in communications
CEO is more than manager — chief communicator of how business is ethically managed
Miami PRSA – Feb. 15, 2011
Source: 2011 Edelman Trust Barometer
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WikiLeaks: Public Enemy No. 1?WikiLeaks: Public Enemy No. 1?Yes … and No.
Viewing WikiLeaks as enemy threat to biz would be mistake
Should be seen as an opportunity
Global call to action for more corporate transparency
Still, significant corporate reputational threats on the horizon
Yes … and No.
Viewing WikiLeaks as enemy threat to biz would be mistake
Should be seen as an opportunity
Global call to action for more corporate transparency
Still, significant corporate reputational threats on the horizon
Miami PRSA – Feb. 15, 2011
PR
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Modern Ethics for Modern Business ChallengesModern Ethics for Modern Business ChallengesTraditional Ethical Standards Must Meet
Today’s Marketing Challenges
PR’s rapid & successful adoption of technology
Dramatically increased our value
Increased value comes with increased responsibility
We must rewrite the rules of engagement
Bring ethical standards up to speed with today’s challenges & opportunities
Traditional Ethical Standards Must Meet Today’s Marketing Challenges
PR’s rapid & successful adoption of technology
Dramatically increased our value
Increased value comes with increased responsibility
We must rewrite the rules of engagement
Bring ethical standards up to speed with today’s challenges & opportunities
Miami PRSA – Feb. 15, 2011
PR
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Disclosure in Digital AgeDisclosure in Digital Age
We’re in an era where disclosure in digital/social comms isn’t in vogue
Disclosure of relationships, motivation & compensation
Take reasonable steps to inform consumers
Provide links to info on all uses for data
Where material connections exist btw. brand & bloggers
We’re in an era where disclosure in digital/social comms isn’t in vogue
Disclosure of relationships, motivation & compensation
Take reasonable steps to inform consumers
Provide links to info on all uses for data
Where material connections exist btw. brand & bloggersMiami PRSA – Feb. 15, 2011
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Diversity in the ProfessionDiversity in the Profession
Not just a catch-all anymore — now core focus of PRSA’s advocacy
Members tell us diversity in PR key to driving agency & business growth
Businesses seeking more global perspective to comms & marketing
Not just a catch-all anymore — now core focus of PRSA’s advocacy
Members tell us diversity in PR key to driving agency & business growth
Businesses seeking more global perspective to comms & marketing
Miami PRSA – Feb. 15, 2011
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The Business Value of DiversityThe Business Value of Diversity
“By incorporating different types of voices
to tell an organization’s story, it can only
enrich the communications capabilities
while adding to the creative mix. Diversity
in communications also can mean
building bridges to new audiences or
tapping into new perspectives and
ideas.”
— Larry Jones, PRSAY blog, Feb. 1, 2011
“By incorporating different types of voices
to tell an organization’s story, it can only
enrich the communications capabilities
while adding to the creative mix. Diversity
in communications also can mean
building bridges to new audiences or
tapping into new perspectives and
ideas.”
— Larry Jones, PRSAY blog, Feb. 1, 2011
Miami PRSA – Feb. 15, 2011
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Business Value of PR ResearchBusiness Value of PR Research
Like Diversity, Research in PR Has Progressed …
•… Still, there is more that should be done
•Funding for PR research & education remains in its infancy
•Only $15 million devoted in 2010
Like Diversity, Research in PR Has Progressed …
•… Still, there is more that should be done
•Funding for PR research & education remains in its infancy
•Only $15 million devoted in 2010
Miami PRSA – Feb. 15, 2011
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PR Grows as Business RecoversPR Grows as Business Recovers
State of the public relations industry is vibrant
•Advanced technology, diverse business community & demand for ethical comms all increasing role PR plays
•PRSA at forefront, advocating on behalf of members & the profession
State of the public relations industry is vibrant
•Advanced technology, diverse business community & demand for ethical comms all increasing role PR plays
•PRSA at forefront, advocating on behalf of members & the profession
Miami PRSA – Feb. 15, 2011
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Thank you!Thank you!
Any questions?Any questions?
Miami PRSA – Feb. 15, 2011