We were on a blog hiatus at inmedia
By Francis Moran
It’s been an interesting spring and summer here at inmedia.
The global economic downturn undoubtedly had its impact on us. Although we are headquartered in Ottawa, Canada, we have not been an Ottawa agency for a long time now. Over the past few years, we have worked for clients in Kelowna, Calgary, Toronto, Montréal, Halifax, Fredericton, Moncton and St. John’s. Outside Canada, for many years we have had a substantial footprint in Scotland, where we have clients in Glasgow and Livingston, and we have worked for clients in Farnborough and London in England. In the U.S., we’ve had clients in Boston, Jersey City, Chicago, San Jose and Phoenix.
Based on this extensive geographic diversification, we thought we might be able to better weather the economic storms that began to rage last year.
We were wrong.
Though our clients might be almost everywhere, they are, in the main, selling into just one market — the U.S. enterprise. And that market is a very badly wounded beast that is only now, and very tentatively, beginning to get back on its feet. As our clients cancelled or delayed programs, their spending with us fell and we found ourselves once again in an adjustment mode that, after nearly 11 years as a technology-focused public relations boutique, is not unfamiliar territory to us.
Our response was three-fold.
First, we’ve gone virtual. We’ve put our servers and shared resources in the cloud, locked the office doors for good and given back the key. With clients all over two continents, we’ve essentially been virtual to most of them anyway. We believe it makes us the kind of agile and responsive service offering this new economy demands.
Second, we focused our PR business development efforts on opportunities where we believed we would be given a real chance to demonstrate our differentiation. This has paid outstanding dividends, with four new clients engaging with us over the past 60 days. Two others have renewed their programs, and two more that had reduced programs are again spending a bit more with us, albeit on an ad-hoc basis as they continue to sharply evaluate every dollar and pound. And our pipeline is fairly robust.
Third, and most critically, we also began to focus on areas where our unique capabilities would gain us higher-value work. Public relations is a terribly commodified business, and the buyers of PR-agency services are still too-often wedded to ancient notions to which our approach simply fails to pay homage.
(This is not a universal truth, let me hasten to add. Our most recent account win saw us triumph over three U.S. boutique agencies and a large and experienced agency with extensive feet on the street on both sides of the Atlantic. The final round, between us and the big guys, offered the client a sharply differentiated choice, I believe. Entirely to their credit, they gave us every chance to show them a clear foretaste of what they would experience if they hired us, and they obviously liked what we showed them. Far too often, however, we never even get the chance to show how we’re different, or the prospect simply fails to grasp how that difference might change the PR agency game in their favour.)
In addition to this long-standing commodification of PR, the economic downturn has created a new class of competitors and made all existing competitors even hungrier. There are now legions of one-person PR shops staffed by perfectly competent former agency and client-side types whose practically non-existent overhead and sometimes-lifestyle approach to business make it impossible to compete. At the other end of the scale, we have bowed out of agency-selection processes where large multinational agencies were offering more services at a lower cost than we could manage as they struggled to at least cover their infrastructure costs.
It’s enough to make any wise business person look to new opportunities, and we have, with considerable early success.
So where are we going? We will continue to seek out high-value PR opportunities where our value proposition as a small but very senior band of sharply focused players with global capabilities can compete. But we’ll also look for opportunities to work with clients on a more strategic level, where the broader marketing and even business decisions get sorted. Although much of the last 10 years has been about guiding technology companies through the specific challenges of harnessing media and analyst coverage, we have a broader and more strategic pedigree that we’re keen to put to work.
In short, we bring technology to market. Stay tuned for more on this as we renew our commitment to this blog.
