How will PR pros invest their precious budget dollars in 2020?
In a recent survey, we asked more than 300 communications pros how they were planning for the coming financial year, and almost half the respondents said their budgets would hold steady. However, if the budget was going to change, it was more likely to increase than decrease.
Where are PR pros planning to increase their spending? Linda Rutherford, vice president and chief communications officer for Southwest, says it’s crucial for communicators to invest in new technology—however, that needn’t translate into a bigger budget.
“The last several years has brought significant investment in commtech as well as social/digital, so I believe that budgets will be status quo going into 2020,” she says. “The task for communications teams is how to fully leverage the tools and technology in which they have invested.”
Rutherford says the new spending can be offset by jettisoning activities that don’t offer enough return on investment.
“More investment in commtech,” she says. “The funds will be redistributed from other low-value activities that the teams have been shedding. The name of the game is efficiency.”