Many of us in the PR Agency business were in tenterhooks at the beginning of this year. Would the recession in the U.S., whose impact was going to be felt in the Philippines, send Clients bidding goodbye, especially when many of them had announced they were letting people go and expected lower sales and revenues.
Well, it may still be early days, and dire events can still happen. But the fact that they have not reminds us that things often do not turn out to be as bad as they are foretold.
Clients press on with their projects, and we continue to receive expressions of interest, some from other countries. Other PR agencies seem unperturbed as well, busy as they are: we see them quite often in bids for new accounts.
The PR Agency business is one particularly gifted to ride out rough patches. We have a large array of services that do not require large media buys. Our budgets are closely monitored by Clients and are, therefore, more easily aligned to their needs and resources. The outcomes of our campaigns are accounted for, and measured against budgets.
The way to deal with a troubled economy is not to be deterred by it. During these times, we try to update our organization's skills and create more cohesive and hard-hitting profit centers. We rationalize our costs and create efficiencies and, always, improve Oh, let us make ourselves more widely known, market ourselves a bit. Make prospects appreciate the fact that PR provides immediate service but also long-term value.
A crisis is not a time to wail and gnash teeth. It is when we get ourselves readier and tougher for the long hard race.
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