And just like that the first month of the new year passed by. What a month it was! At Reputation Today, the first 40 under Forty list was published and the first Super Night was organised. In our new-year series of this column, we focussed on five lists of 17 and the highlight was the first ever listing of the 17 biggest firms. We then upgraded the list to cover 20 firms.
We were glad we created this tiny disruption by making a list of this nature mainstream. Our aim is to publish revenue figures of all firms, the next time this list is shared. We will get brickbats and bouquets. For example there were several companies in the list who have never sponsored any of our platform in 2016. There were several who have never sponsored any of our platforms ever before and never might. Then there were several companies who have sponsored an event or two and did not feature in the list. The point is, like PRAXIS these lists are not linked to sponsorship, something we are proud of. Most other events in the domain we operate in have ‘pay to speak’ schemes where a certain level of sponsorship ensures a speaking slot.
Soon, we begin research work on the next 30 firms so that a comprehensive list of 50 firms will be made available for a variety of stakeholders, especially potential clients seeking a PR firm partner, for potential employees who will choose a place of work based on its size and for the world at large to look collectively at a profession that is coming of age.
Later this year we will publish online the list of the 50 biggest firms by revenue and to do that with accuracy we will invite all firms in our database – a large number of them who are PRCAI members – to submit a CA approved balance sheet which will ensure real numbers. Publishing revenue of firms will become significant in an era when trust has depleted and fake news take precedence. This will also help in getting a near accurate size of the consulting side of the PR business. We will eventually take this listing to cover 100 firms.
PRCAI also conducted a State of the Business Survey in 2016. The report pegged the consulting business at INR 1100 crore and we believe this will grow by atleast 10% year on year. Tracking it will ensure everyone’s on their toes to better themselves.
Eventually we will also track corporate communications departments and bring out a list of the Top 30 corporate communications departments listed by number of campaigns they run and budgets they have. While all this growth is being witnessed how are communicators of all ages keeping themselves abreast by acquiring additional skills or refreshing existing skills? There is no way to find that out on an immediate basis. But it is critical to be tracked.
Additionally, there are several companies that contribute immensely towards the betterment of the PR profession by tracking, monitoring, distributing, analysing and researching data. It is time to recognise these companies and the people behind them as well. There are atleast a dozen including Concept BIU, Blue Bytes, Skribe, Impact, Eikona, Cirrus, PR News Wire, Business Wire, News Voir, Gold News Monitoring, Media Value Works and several others.
All in all we will try and be the custodian of about half a dozen lists, annually that will help take the profession forward by bringing in various companies and people in the spotlight and move the needle.