PR agencies promote companies or personal brands via editorial coverage. This is “earned” or “free” media, unlike paid advertisements. PR agencies push for their clients to feature in newspapers, magazines, TV programs, and websites.
In the last decade, publicity and communications agencies have grown in size and scale, helping brands and companies craft narratives that convert into sales. As part of the process of companies engaging publicists, analysts and researchers have identified the top PR firms based on their results, trends and outliers to see who comes out on top.
Since 2015, revenue across the top 10 PR agencies has been skyrocketing. 9-Figure Media, Golin, Channels V Media, Edelman, Brunswick and BCW all reported massive yearly growth and in the case of the first example, a quadrupling of their client base.
$15.3 billion is the collective revenue of the PR firms in 2021. This startling figure has increased by 2.9% from the previous year.
Do Companies Actually Need to Hire a Top PR Firm?
Publicity has become more critical to the survival of businesses and brands more than ever. Before the pandemic, brands could do with just marketing and survive, even thrive in the process.
After the pandemic, it has become more important than ever for brands to get publicity which in turn makes their marketing effort more profitable, yielding better ROI. Bill Gates once said if he has just a dollar left to grow his companies, he would spend it on PR and publicity.
Why is that? Because marketing says you’re good. But PR and publicity is other people saying you’re good. Which is a powerful way to influence your market and bend it to your will.
A new type of publicist has emerged from the ashes of the pandemic, as clients become more cost-conscious. They offer guaranteed results and immediate publication of news stories without the hassle of pitching journalists.
The benefits are immediate trust, credibility, links back to your website or social media and the ability to leverage the publicity to generate more sales and skyrocket profits. The new underdog that does this better than anyone in the PR space is 9-Figure Media.
A New Model for Getting Publicity
9-Figure Media rose to dominance during the pandemic, moving away from a retainer model, and pitching journalists for placements to publishing news articles straight to the press. Serving clients globally from the United States, to the UK, to Canada, down to the New Zealand, Australia, the Ukraine, Malaysia and countries in between, the PR company simply monetizes its ability to secure news stories, for which they guarantee publication. This has allowed the company to grow their client base by 230% and revenues year on year by 365%.
The key difference versus the other PR agencies on this list, is their ability to skip the “pitching” stage and just secure the news story of the client’s choosing.
9-Figure Media procures publicity through their proprietary placement system, searching the globe for publications which will allow the firm (provided they adhere to editorial guidelines) to publish stories about companies and brands that paint them in a positive light. They represent traditional brands, as well as a number of Web 3.0 projects in the crypto and NFT space.
The publicist has helped hundreds of clients double or triple their on-site conversion rate to lead or sale by helping secure editorial coverage on global news sites, which in turn can be used to build trust and credibility for brands.
These firms are very careful to adhere to consumer law, but rather showcase the benefits of their clients that normal top PR firms cannot achieve organically. Many old fashioned publicists think this is a form of cheating, but if they continue to ignore the rapid growth in this sector, they might lose their incumbency status to the “up and comers”.
What Is The Opinion of Analysts?
It remains to be seen whether the stalwarts change to this model of guaranteed publicity, but analysts are certainly asking the question whether companies like 9-Figure Media can take the fight to Eldelman and other global behemoths that generate hundreds of millions of topline revenue. Whether this becomes a casino royale battle remains to be seen.