Firms forecast growth in changing PR market

Council of Public Relations Firms of Hong Kong are forecasting growth in PR spending over the next 12 months, according to the latest industry survey released today.Almost two thirds (68%) of firms in Hong Kong are anticipating client PR spending to increase this year.Revealed from the latest Benchmark Study by CPRF, regional business shows an ongoing trend of continued growth with 58% of respondents experiencing growth in their regional business in 2012 compared to 40% the previous year.Meanwhile, China continues to dominate the regional business market, with 75% of respondents indicating that regional work from China was up 60% year-on-year.The dominance of social media also increased, with 69% (from 56% in 2011) of respondents saying they employed it as a key channel of communications for clients.Simeon Mellalieu, chairman of CPRF and general manager of Ketchum Hong Kong, said social media was regarded by PR practitioners as equal if not more important than traditional media publicity."The study indicates social media is continuing to grow in importance as a dominant strategic channel," he said."PR practitioners are now also increasingly involved in media advertising on social networks."Hong Kong's PR firms are developing strong 360 degree integrated strategic consultation capabilities across their PR, marketing and advertising communications channels, both online and offline."