Just like every other organization in the communications industry, public relations firms have been forced to dramatically alter how they operate in response to the COVID-19 pandemic. While I could wax philosophical about how this ongoing catastrophe continues to affect virtually every sector of the global economy, I’ll instead focus…
Some PR agencies are currently in a state of freefall because of the coronavirus pandemic. This is a situation that is reminiscent of the hit PR agencies took during the 2008 financial disaster. In that case, several agencies lost as much as 50 percent of their business. Most stood firm,…
While the specifics of PR agency acquisitions vary considerably from one situation to another, there’s one constant that’s true of all potential PR agency M&A deals. If the chemistry feels right after an initial phone call or meeting between the two parties, buyers invariably want to get down to business.…
Bringing two agencies together, whether large or small, is a significant undertaking. The art of acquisition takes not only a high degree of patience and focus but also a special set of skills and a great deal of strategic planning. In addition, whether or not your agency acquisition experience is…
Let’s say you’re in the market for a new home. What do you do? You hire a broker to determine the current marketplace. You give the broker information such as where you’d like to live, what type of house you want, what amenities need to be within driving distance and…
Want to know the quickest way to abruptly end a discussion about a PR agency sale just after the conversation starts? I’ve invested a lot of time and effort throughout my career in the public relations industry working with and mentoring both would-be buyers (and sellers) on how to approach an…
I attended the 2019 PRSA Counselor’s Academy spring conference in St. Petersburg, Fla. It was an enlightening experience to be among a group of about 150 mainly younger entrepreneurs who own PR agencies. Some came from as far away as Alaska to attend the 3-day conference. They were there to…
The Stevens Group is pleased to present a new podcast series that salutes the masters of public relations and revels in their observations, insights and advice to PR professionals. This new series is part of the ongoing partnership between The Stevens Group and CommPRO to bring to PR, digital/interactive and marketing communications…
If your PR or digital marketing agency is considering an acquisition, you likely know how crucial it is to incorporate careful, strategic planning and collaboration across both entities to ensure a smooth transition and happy, motivated employees. Effectively communicating the changes throughout the process — both internally and externally —…
It was the best of acquisitions, it was the worst of acquisitions, it was the age of private equity, it was the age of the roll up, it was the epoch of newcomers, it was the epoch of early retirements, it was the season of high margins, it was the…