Rankings Issue 2021

Home , Daryl Morey, Instacart, Joe Lockhart, Rackspace Technology, The Setai Miami Beach, VSS Imagine

Communications & New Media May 2021 I Vol. 35 No. 3 2021 RANKINGS ISSUE

PUBLIC RELATIONS FIRMS RANKED BY NET FEES, SPECIALTY, REGION & GROWTH MORE THAN 130 FIRMS RANKED ACROSS 19 INDUSTRY SPECIALTIES

HEALTHCARE PR RANKINGS, PG. 36

FIRMS RANKED TECHNOLOGY BY ANNUAL PR FIRMS PR FIRMS GROWTH, RANKED BY RANKED, PG. 26 PG. 55 NET FEES, PG. 52

TRAVEL & TOURISM FIRMS RANKED, PG. 40

ENTERTAINMENT PR FIRMS RANKED, PG. 41

FINANCIAL & I.R. FIRMS May 2021 | www.odwyerpr.com RANKED, FIRMS RANKED PROF. SERVICES PR FIRMS RANKED, PG. 44 PG. 30 BY REGION, PG. 56 FOOD & BEVERAGE FIRMS RANKED, PG. 45

Vol. 35, No. 3 MAY 2021 EDITORIAL O’DWYER’S RANKINGS OF HEALTHCARE PR FIRMS PR SALARIES FLAT, 6 36 PARTISANSHIP IS HERE TO BILLING RATES UP 8 STAY, PR PROS SAY INFLUENCERS DON’T SWAY 38 COVID SHAKES UP THE SOCIAL MEDIA USERS 8 38 PRESS WORLD 52 NEGATIVITY HURTS O’DWYER’S RANKINGS OF MARKETING CAMPAIGNS 9 PR SPECIALTIES A PR PRO’S GUIDE 40 INDEPENDENT FIRMS TO ANALYTICS 10 POST 38% GROWTH COMMS IN THE AGE OF 48 O’DWYER’S RANKINGS CORPORATE ACTIVISM 12 52 OF MAJOR US PR FIRMS A BIZARRO YEAR IN TRUST IN MEDIA IS FINANCIAL COMMS 14 54 ON THE UPSWING PR AND IR BEST VACCINE HESITANCY 55 PRACTICES FOR IPOS DRIVEN BY LACK OF INFO WWW.ODWYERPR.COM 16 Daily, up-to-the-minute PR news HOW TO FIND THE 54 LEADING GAINERS RIGHT PR FIRM 18 AMONG PR FIRMS MISSES, HITS AND 55 O’DWYER’S REGIONAL OPTIMISM 20 PR FIRMS RANKINGS BRING MORE WOMEN 56 FACING THE DIGITAL INTO PR LEADERSHIP 22 REALITY POST-PANDEMIC TECH FIRMS RIDE OUT A 58 PEOPLE IN PR TOUGH 2020 24 62 PROFILES OF RANKED O’DWYER’S RANKINGS PR FIRMS OF TECH PR FIRMS 26 64 EDITORIAL CALENDAR 2021 FINANCIAL FIRMS WASHINGTON REPORT January: Crisis Comms. / Buyer’s Guide THRIVE AMID CHAOS March: Food & Beverage 28 84 May: PR Firm Rankings O’DWYER’S RANKINGS July: Travel, Tourism & International OF FINANCIAL PR FIRMS COLUMNS PROFESSIONAL DEVELOPMENT August: Financial, I.R. & Prof Services 30 82 Fraser Seitel HEALTHCARE FEES GUEST COLUMN October: Healthcare & Medical RISE MORE THAN 30% 32 83 Dennis Spring November: Technology & Social Media ADVERTISERS 5W Public Relations...... 3 Finn Partners...... 51 Padilla...... 11 APCO Worldwide...... 19 The Hoffman Agency...... 63 PAN Communications, Inc...... 5 BackBay Communications...... 31 Hotwire Global...... 27 Prosek Partners...... 29 The Bliss Group...... 13 The Hoyt Organization Inc...... 35 Real Chemistry...... 37 Butler Associates, LLC...... 9 ICR...... 59 Ruder Finn Inc...... 25 Coyne Public Relations...... 15 Joele Frank, Wilkinson Brimmer Katcher...... 67 Stanton...... 7 Crosby ...... 23 JPA Health...... 21 Stanton Communications...... 61 Edelman...... 46, 47 LaVoieHealthScience...... 33 The Stevens Group...... 8 Evoke KYNE...... 39 M Booth...... Back cover Fahlgren Mortine...... 17 McCabe Message Partners....Inside front cover O’Dwyer’s is published bi-monthly for $60.00 a year ($7.00 for a single issue) by the J.R. O’Dwyer Co., Inc., 271 Madison Ave., New York, NY 10016. (212) 679-2471; fax: (212) 683-2750. Periodical postage paid at New York, N.Y., and additional mailing offices. Postmaster: Send address changes to O’Dwyer’s, 271 Madison Ave., New York, NY 10016. O’Dwyer’s PR Report ISSN: 1931-8316. Published bi-monthly.

EDITORIAL Problems for the performatively woke brand ow that being woke has gone mainstream, corporate America has predictably seized the moment and is weighing in on all matters political. Brands are increasingly deploying EDITOR-IN-CHIEF Nbelief-driven messaging as a means of engaging with audiences, reminding us of their Kevin McCauley sophistication and good character by inserting themselves into weighty social issues and gain- [email protected] ing a ton of free earned media in the process. The problem is, the strategy suffers from overuse, and I suspect a lot of people are beginning to see some of these campaigns for what they are: tone-deaf pandering, opportunism couched PUBLISHER in advocacy. Cheap shots from the cheap seats. John O’Dwyer Remember Starbucks’ cringeworthy 2015 gaffe, where hapless baristas were forced to engage [email protected] in face-to-face conversations with customers about racial matters? We’re at the point where this kind of quasi-parodic lip-service is becoming the norm. When Oreo in February tweeted that “trans people exist,” it largely fell on deaf ears—and I’m guessing a few rolled eyes—pre- SENIOR EDITOR sumably because many of us caught the chloroform whiff of corporatism behind the senti- Jon Gingerich ment. The conscripted nature of these protestations often feels forced, facile, canned. Brands [email protected] making big statements without committing to actually doing anything. Companies that get to cast the illusion that they’ve moved society in a positive direction, when in reality, all they did ASSOCIATE EDITOR was post a tweet. Steve Barnes Brands, of course, have the right to say whatever they want. And I’m not claiming brands [email protected] should necessarily curb their political ambitions, or refrain from making moral pronouncements. I’m simply suggesting that we’re increasingly beginning to look at these messages with CONTRIBUTING EDITORS a jaundiced eye, in part because we’re beginning to recognize the hands of marketing working Fraser Seitel behind them. And when that spell fails, we begin to see the messengers as bad actors, which is Richard Goldstein exactly not the kind of message any brand wants to send. Conventional wisdom—for the past several years, anyway—has been that brands should EDITORIAL ASSISTANTS publicly align themselves with today’s pressing political and social causes. They should do so & RESEARCH because, news flash, study after study shows consumers are more attuned than ever to how Jane Landers their purchasing behaviors impact the world, and as a result, want to support companies that Melissa Webell share their values. Enter the age of the performatively woke brand. Politics has become a kind of fashion acces- sory for corporate America these days, a way to profit from protest. Big business’ newfound Advertising Sales: altruism-as-a-marketing-strategy got a shot in the arm during the Trump era, when many John O’Dwyer Americans turned to the private sector for succor because they realized a do-nothing govern- [email protected] ment wasn’t going to move the needle on important environmental, civil and societal issues. This set off a dramatic rift between conservative state and Federal leaders and our newly-en- lightened corporate world that continues today. Dick’s Sporting Goods in 2018 stopped selling O’Dwyer’s is published seven times a year assault weapons after lawmakers cowed to the NRA in the wake of the Parkland, FL shooting. for $60.00 ($7.00 a single issue) by the The NBA drew the ire of the Chinese government after Houston Rockets general manager J.R. O’Dwyer Co., Inc. Daryl Morey spoke out in support of pro-democracy protesters in Hong Kong. And this year, 271 Madison Ave., #600 Major League Baseball, Delta Airlines and Coca-Cola have all publicly condemned Georgia’s New York, NY 10016. controversial voting restriction laws. (212) 679-2471 Fax: (212) 683-2750. Many progressive Americans have embraced this development in our culture wars. The problem is, in calling upon the private sector to rescue democracy, we’re essentially making © Copyright 2021 J.R. O’Dwyer Co., Inc. the corporate world stewards of it. This isn’t going to end well. At the risk of stating the obvi- ous, corporations don’t run on benevolence; they say what consumers want to hear because OTHER PUBLICATIONS: it’s in their best financial interests to do so, regardless of what corner of the political spectrum the loudest conversations happen to be coming from. And I don’t think the world we’re cur- www.odwyerpr.com rently working to create—where corporations set the yardstick for what’s morally acceptable Breaking news, commentary, useful data- behavior—is the world most of us want. Suffice to say, a company that fires an employee for a bases and more. homophobic tweet she/he wrote as a teenager for easy PR points isn’t something to applaud. O’Dwyer’s Newsletter Admittedly, the private sector’s forays into “woke washing” aren’t without benefit: The silver A six-page weekly with general PR news, lining here is that our politically-aware climate has lent a conscience to corporations that, for media appointments and placement decades, were notoriously silent on social issues. Even if we recognize that brands are simply opportunities. working the levers of public opinion to increase awareness and boost market share, it deserves to be said that people are convincing the private sector to say and do things it wouldn’t have O’Dwyer’s Directory of PR Firms done 10 years ago. That’s a big deal. Listings of more than 1,250 PR firms The critical distinction is that there remains a gaping divide between good words—even throughout the U.S. and abroad. good words fronting good intentions—and actual advocacy. Maybe that’s why it’s hard for some to take Amazon’s placement of a Black Lives Matter banner on its website seriously, con- O’Dwyer’s PR Buyer’s Guide sidering its history of anti-union tactics. Or the fact that Oreo parent Mondelez International Products and services for the PR industry apparently wasn’t woke enough to avoid being named in a class action lawsuit this year filed by in 50 categories. former child slaves who alleged the company engaged in forced labor practices on Ivory Coast jobs.odwyerpr.com cocoa plantations. Actions, as it turns out, always go a lot farther than words.  O’Dwyer’s online job center has help — Jon Gingerich wanted ads and hosts resume postings.

6 MAY 2021 | WWW.ODWYERPR.COM

REPORT PR salaries flat, hourly billing rates up Salaries at PR agencies nationwide were essentially flat in 2020, on average, by 4.8 percent. Spring Associates President Dennis even as hourly billing rates increased at an average rate of nearly Spring told O’Dwyer’s that the uptick in five percent, according to an annual Spring Associates report. hourly rates was “probably due to pandemic-caused losses.” By Jon Gingerich The report also found that while consul- alaries for PR pros nationwide were areas that comprise the country’s largest tant and freelancer hourly rates were virtu- flat last year in light of the econom- concentration of communications profes- ally flat in New York (0.6 percent), Atlanta ic damage wrought by the COVD-19 S sionals (New York, Atlanta, Chicago, Los (1.6 percent), Houston (0.6 percent) and pandemic, according to the latest edition of Angeles, Boston, Houston, Washington Boston (0.8 percent), they were up signifi- an annual compensation report by PR exec- D.C. and San Francisco)—at $116,200 com- cantly more in Chicago (seven percent), Los utive search firm Spring Associates. pared to $115,900. Angeles (five percent), San Francisco (4.3 The report, which analyzed salaries, bo- Corporate communications executives percent) and Washington, D.C. (2.3 per- nuses and other compensation-related cri- in those eight key metro areas, meanwhile, cent). teria among corporate communications posted an overall average salary of $148,100 When it comes to annual bonuses, the executives and PR agency professionals, compared to 2019’s average of $147,400, report found that nationally, bonuses repre- found that PR pros—across a range of agen- representing a .008 percent increase. sented an average 9.1 percent of base sala- cy titles from account executive through While salaries were essentially flat for PR ries for PR agency staff while for corporate executive vice president—earned an over- professionals last year, the report discov- communications pros they were much high- all average of $111,600 last year compared ered that hourly billing rates at those PR er, representing an average 19.9 percent of to $111,400 the year prior, representing an firms went up at the same time, increasing, base salaries.  almost-nonexistent gain of 0.0018 percent. Corporate marketing communications professionals, on the other hand, registered Influencers don’t influence social media users annual average earnings of $142,600 compared to 2019’s $141,300, revealing an in- espite their popularity and over- By Jon Gingerich crease of 0.0092 percent. whelming prevalence in today’s sponsored posts that appear uninformative When broken down by region, the report Dmarketing world, few social media or don’t speak to their specific interests, ac- discovered that PR agency executive sal- users buy products promoted online by in- cording to recent findings released by port- aries were up more across the eight metro fluencers, and most seem to actively avoid folio website Visual Object. The Visual Object survey discovered that a majority (58 percent) of social media users have not and never intend to purchase influencer-promoted products. According to the survey, most social media users are drawn toward influencers with specific subject matter expertise who provide informative, insightful content focusing on a shared interest. The survey found that the most popular influencers are subject matter experts (34 percent), business leaders (29 percent) and wellness experts (28 percent), suggesting that influencers with specialized, niche followings are the most likely to engage followers and cultivate communities. The study also discovered that most re- spondents who follow influencers (55 percent) said they typically follow brand advocates with fewer than 50,000 followers, further supporting the idea that most social media users tend to engage more with influencers that specialize in niche subjects and interests. Micro-influencers, or brand advocates with fewer than 10,000 followers, are often seen by brands as a budget-friendly al- ternative to partnering with influencers that command larger followings. Finally, the Visual Objects survey found that most social media users are relatively selective about who they follow online, with a majority (57 percent) claiming they follow only five influencers or fewer.

8 MAY 2021 | WWW.ODWYERPR.COM Negative sentiment hurting marketing campaigns The prevalence of negative language in online marketing campaigns, while certainly a reflection of the times, has had the harmful effect of reducing conversions among site visitors, according to a study. By Jon Gingerich he overwhelmingly negative tone that ple, the study found that conversions went Unbounce’s data revealed that fitness and has pervaded news coverage since the down as emotional language with a nega- nutrition sites with positive and encour- Tearly months of 2020 is, arguably, at tive connotation—such as sadness or fear, aging language—like words evoking joy, least partially responsible for driving the for example—went up, suggesting that for example—correlated with much high- historic surge of clicks and online content while negative sentiment isn’t always nec- er conversions, suggesting drill-instruc- consumption that has occurred during essarily a bad thing, it probably doesn’t pair tor-style language could be hurting these the COVID-19 pandemic. But those sen- well with ecommerce copy, where feelings business’ page performance. timents have had the opposite effect on of joy and anticipation are more likely to On the other hand, the Unbounce study marketing campaigns, according to a new correlate with an increase in landing page also discovered that, occasionally, positivity marketing study by conversion intelligence performance. appears to result in a decrease in conver- software company Unbounce. Unbounce’s study found that online sell- sions. When it comes to education-based Unbounce’s study analyzed millions of ers in this category increased their use of sites, for example, the study found that pos- visits to thousands of websites across 16 dif- emotional language in the last year, partic- itive language—words related to joy and ferent industry categories and studied how ularly negative language that evokes anger anticipation, for example—actually seemed certain types of sentiment and emotional (up 8.9 percent), fear (up 6 percent) and to have a neutral or negative influence on language might influence a site’s ability to sadness (up 8.1 percent). whether visitors convert, suggesting an ex- convert traffic into potential customers. It Traffic to sites specializing in fitness and ception to the rule that being positive or found that the frequent occurrence of neg- nutrition increased almost 125 percent in upbeat is always a must for marketing cam- ative emotional language appeared to coin- the last year, but also saw emotional lan- paigns. cide with lower conversions across multiple guage with significantly higher levels of Unbounce’s “Conversion Benchmark Re- industries, particularly businesses special- negative sentiment, including words with port” used artificial intelligence to analyze izing in ecommerce, fitness and nutrition an angry tone (up 13.4 percent) as well as the outcomes of 264 million visits to 44,000 and home improvement. disgust (up 9 percent) and fear (up 15.9 landing pages between November 2019 and In the ecommerce category, for exam- percent). November 2020. 

WWW.ODWYERPR.COM | MAY 2021 9 FEATURE From insights to actions: a PR pro’s guide to analytics

Some of the ways in which analytics and artificial intelligence are and third-party data (open databases or ag- transforming today’s communications landscape. gregated from other data owners) you have available to you, and which best fit your By Kayla Rodriguez and Sally Slater needs. Marrying first-party with third-par- R and marketing professionals noto- out there that will give you surface-lev- ty data can be particularly effective. riously don’t like numbers. We’re cre- el intelligence on broad market categories Break down silos. The project team Patives, storytellers and above all else, or topics of conversation. But to truly un- should be multidisciplinary, integrating words people. Calculus, we hardly knew ye. derstand what your target audiences care technical data skills with communications But with the advent of analytics and ar- about, who they respect, how they consume expertise and industry experience. Data tificial intelligence, numbers are about to content and when, you need to go deeper. teams can’t work in silos and need to collab- become your new best friends. The days of We refer to this as audience architecture, orate directly with account leads and clients decision by gut instinct are behind us. Data the structural elements that shape human to thoroughly understand the applications reigns supreme, replete with quantifiable behaviors and outcomes. With machine of the research and re- evidence that can prove or disprove our the- learning techniques, you can identify and alities of the market. ories, measure program impact, gauge au- track hyper-targeted audiences to construct Expect an iterative pro- dience interests and behaviors and uncover a dynamic view of those structural elements cess and communicate opportunities to optimize performance. The and use those insights as the foundation of frequently to avoid gaps communications strategies of the future will everything that you do. in understanding. increasingly be one part art, one part data Content and media mix optimization Start with specific science. By leveraging analytics to map where key questions and hypoth- Where analytics has gained the most trac- audiences go online to read and share con- eses to test. Hogwarts tion in the industry to date is measurement tent, you can more efficiently allocate media isn’t real, and data sci- Kayla Rodriguez and reporting. Demonstrating the ROI of spend to those channels and outlets. Not entists aren’t wizards. PR and marketing has long been an uphill only can you drive more website visits, you You can’t expect them to battle, and as reporting requests grow more can drive more of the right visitors to your pull rabbits out of hats frequent and more elaborate, collecting and website. This applies to search strategy and unless you give some collating the data can eat up a sizable chunk keyword spend as well. By understanding guidance on the breed of retainer hours. Analytics can streamline the language your audiences use when they and color you’re looking reporting efforts and provide better metrics ask peers questions online about products for. The best analytics that resonate with business leaders outside and services, you can tailor your SEO strat- initiatives aren’t open the marketing function. Relational databas- egy to match their language and optimize ended; they’re designed es allow us to build dashboards with KPIs your web content to address gaps in knowl- to find answers to spe- tailored to different stakeholders, and data edge. cific questions or prove Sally Slater visualizations help us relay the numbers in ABM and sales team enablement hypotheses true or false. the most compelling way. And instead of Analytics can also be used for strate- The challenging part is knowing what ques- using ad value equivalency, we can use attri- gic buyer intelligence to support an actions to ask. To formulate the right ones, we bution analytics to tie earned media directly count-based marketing strategy or empow- begin with these thought starters: What are to the sales funnel. er sales teams with insights into the needs your marketing or PR goals? Who are you However, reporting efficiencies are just and business objectives of their sales tar- trying to reach? What do you already know the tip of the iceberg. Here are some of the gets. A corporate issues report, paired with about your key audiences? What types of in- ways analytics and AI are transforming the an audit of a key decision-maker’s public sights would be most helpful? What themes communications landscape: social persona, paints a broader picture of do you want to learn more about? Competitor intelligence where their priorities and pain points lie. Hypotheses don’t need to be PhD-level Analytics and AI can accelerate unwieldy Messaging, content and sales collateral can theses. The only pre-requisite is curiosity. competitor audits by automating data be personalized based on analysis of specific For example, you might postulate that your collection processes to quickly generate high-value audience segments. audience prefers short-form to long-form competitive benchmarks and insights on The good news is that with self-service content. Analytics can validate—or invali- performance. Analyzing earned share of analytics platforms and a team of data sci- date—your theory. voice with tools like Cision and Meltwater entists, communicators still don’t have to do The most critical determinant of analytics is standard fare at this point. You may be the math. However, data isn’t insight, and value is the extent to which the insights unless familiar with SimilarWeb, which lets the numbers alone don’t tell a story. To get covered are actionable. You might discover you spy on your competitors’ website traf- the most value out of your data initiatives, that 55 percent of your customer base pre- fic (ethically!) or Newswhip, which not only consider these three best practices: fers dogs to cats, but what can you actually measures social engagement on your com- Build the right data foundation. Bad data do with that information? (Unless you’re in petitors’ content, but it also predicts which in equals bad data out. To find meaningful the business of pets.) In our view, analytics competitor content will perform best next. insights, you need to draw from the right is only successful when it leads to concrete Audience insights data sources—and those data sources need changes that drive better outcomes. AI can The holy grail of insights, audience ana- to be accurate, complete, relevant, reliable, accelerate information gathering, but it’s on lytics can be used to get a 360-degree view timely—and most importantly, accessible. communicators to turn insight into action. of your customers and the influencers who Figure out what first-party data sources Kayla Rodriguez is Senior Director of Ana- shape their opinions and decision-making. (the data you collect directly), second-par- lytics and Sally Slater is Head of Innovation There are plenty of social listening platforms ty data (first-party data from other entities) at The Bliss Group. 

10 MAY 2021 | WWW.ODWYERPR.COM

FEATURE Communication in the age of corporate activism

Companies are now expected to go beyond social responsibility ership maintain this awareness and sensi- and into social activism, but a challenge arises surrounding when tivity so they can speak thoughtfully and and how to communicate an organization’s values. By Peter V. Stanton deliver their message in the optimal forum. Your own public square orporate social responsibility is a Culture and principles are key When the decision is made to express a given for any business wishing to be There’s a growing willingness among cor- perspective on a social issue, the accompa- Crecognized as committed to political porations to weigh in and express their val- nying decision is where and how to deliver or environmental causes. But it’s no longer ues, similar in some ways to the actions of it. There’s no question that the company’s enough for business leaders to espouse pol- engaged individual citizens. While it can be website is its most valu- icies with respect to sustainability, diversi- necessary and important to express a posi- able “owned” channel. ty and gun control. Now, corporate boards tion on matters of concern, the company’s There are times when and executives are expected to adopt vocal, culture and principles provide the boundar- only the front page will prominent positions on an ever-expanding ies for when and when not to do so. do, such as at the time of array of issues recognizing that customers, The principles a company upholds and the George Floyd mur- employees and investors expect action—not the manner in which it conducts its busi- der. only words. ness provide context and the rationale as to An additional option Companies have long taken positions on why a company is taking a position, why it for corporations to con- issues of social importance. The difference matters to the business and what actions the sider is a platform spe- now is both in the frequency of corporate company also will take to affirm its beliefs. If cifically created for the Peter V. Stanton pronouncements on events, policies and the company intends no action with respect purpose of delivering legislation, as well as the expectation that to a particular issue, it’s not likely to be cred- messages of social importance. Think of it companies be directly engaged on social is- ible espousing a perspective on that issue. as your company’s own public square, where sues even when those issues aren’t directly Those of us who counsel senior leadership perspectives and opinions can be shared, linked to the company’s business or capacity on issue communication must frame our updated and easily accessed by those out- to effect meaningful change. There’s pres- advice with reference to corporate culture side the organization. A specifically created sure to both say more and do more. and principles. If we can’t draw a bright-line channel also affords executives the ability At least part of the reason for this is that connection, we risk exhausting the credibil- to readily share links to new material, post corporations remain among the most trust- ity capital that gives the organization’s state- commentary on their own platforms, and ed segments of our economy, far more so ments weight and value. direct internal and external audiences to than the media or government, according Stakeholder sensitivity important information. Most important, it to Edelman’s Trust Index. Further, no sin- CEOs speak for the corporation, but not preserves the value and significance of the gle group of stakeholders want corporate necessarily for every investor, employee or corporate landing page for matters that war- leadership to engage. Almost all do, from customer. When the corporation clearly rant such prominent presentation. employees to consumers to those already defines its culture and values, it gives stake- Openness to dialogue engaged in political discourse. Corporate holders an opportunity to assess if their per- Issues of social importance almost always leadership is compelled, to a far greater sonal perspectives align with those of the are controversial. There’s rarely a single per- extent, to take a position and be visible in organization. They may not in all cases, so spective with which all can agree. When a doing so. CEOs must be sensitive to the potential for company or CEO expresses a perspective, it For communicators, the challenge be- differences of opinion. will, almost certainly, precipitate a reaction. comes counseling corporate leadership on To be sure, strong unequivocal statements When a statement is simply posted to when to engage, how to engage and the are needed when our shared sense of hu- the corporate web site, there may be no manner in which to communicate about manity is imperiled. Companies gain noth- mechanism for differing viewpoints to be that engagement. Is a statement posted to ing from silence on such matters. Yet there expressed. This can leave others, especially the company’s website appropriate, or is a are times when the CEO’s personal views employees, feeling disenfranchised. Cre- CEO’s post to a LinkedIn profile the better may not represent all of the company’s ating an opportunity for stakeholders to way to express a perspective? The answer stakeholders. At the very least, this possibil- weigh in, share a perspective, offer a com- may vary by company and by each unique ity needs to be considered when statements ment or even dissociate themselves from the context. are prepared. This sensitivity also may guide corporate position, is an appropriate and Consumer brands generally want as many decisions about where and how to deliver meaningful demonstration of openness to customers as possible, without regard for statements of importance. If the views are dialogue. the political leanings of those who buy primarily those of senior leadership, their It also can be a further affirmation of a their products. Thus, taking a stridently and personal LinkedIn or Facebook pages may core value or principle reflected in the com- highly-visible liberal or conservative posi- be more appropriate than the landing page pany’s statement of culture. tion may risk alienating a segment of their of the corporate website. In the emerging age of corporate activism, marketplace that can be vitally important to Being CEO doesn’t automatically enti- the rules will continue to evolve. For now, revenue and profitability goals. Conversely, tle one to the full followership of all con- we at least can accept that silence isn’t gold- there’s a desire and obligation to speak out stituents. This is especially the case within en, that expression isn’t necessarily engage- on issues such as racial injustice—as was multi-national corporations where differ- ment, but most important, actions speak especially the case in the aftermath of the ences in culture, language and social mores louder than words. killing of George Floyd—that reflect a wide- influence how a statement is received. As Peter V. Stanton is Founder and CEO of ly-shared sense of commitment to equality. communicators, we must help senior lead- Stanton Communications, Inc. 

12 MAY 2021 | WWW.ODWYERPR.COM

FEATURE A bizarro year in financial communications Several events that impacted the investing and finance world in with full-time journalists there to cover de- 2021 underscore the importance of maintaining communications mocracy in action. advocacy for a financial company’s brand and message. When the communications director walked in, the reaction of my 21-year-old By Thomas Butler self was to say: “I know you. You had been e’re in the midst of 2021’s cor- it leaped over 800 percent, thanks again to the host of Inside Albany.” It was a longtime porate proxy season, when Wall Reddit. Billionaire Elon Musk propelled the political-junkie news show. Like Rukeyser, WStreet and the investor commu- Doge-mania by tweeting about it, generat- it was a must-watch, nity is hyper-focused on the decisions, ac- ing more hype to spike the price. As of this but about Empire State tions, governance and earnings of corporate writing, the volatile cryptocurrency, which government, policy and brands we invest in and whose products we touched $0.42 on April 20, was about $0.27. politics. purchase. The GameStop and DogeCoin sagas are For the next few years, It’s also a daily reminder that the messag- clear examples of the modern decentraliza- I received the best edu- ing that communication pros in our indus- tion of news and informational sourcing. It cation in communica- try curate and convey are essential on so shows it can be like the wild west out there tions and media from many levels. if you can’t maintain and manicure your cli- some of the most ex- One year ago, according to Visual Capi- ent’s brand and message. perienced journalists talist, the international stock markets were For the last few years, members of our in the nation, some of Thomas Butler collectively valued at $89.5 trillion. Addi- team have been kept busy chasing down whom went on to be col- tionally, investments in global debt reached sources publishing unverified stories about umnists, news anchors and bureau chiefs, $253 trillion, along with $280.6 trillion in a specific client. While positive, they per- including at the White House. real estate value. Still in their infancy, cryp- petuated false information that, like weeds, The corporate and financial markets tocurrencies add another $244 billion to need to be rooted out. At my first PR agency, I was anxious to that tally. That’s only the tip of the iceberg, A path diverted do more and learn, managing public affairs, in terms of the financial industry landscape. Back in my college years, I thought a life economic development, commercial real The curveballs of today’s market working on Wall Street was in the cards. estate, construction accounts and more. So far in 2021, there are a few troublesome I spent a summer working on the floor of Then the portfolio evolved to include cri- case studies that show clearly to any CEO the New York Stock Exchange when that sis management, litigation, publicly traded or board of directors that maintaining reg- Exchange was considered the center of the companies, entrepreneurs and CEOs. ular and quality communications advocacy financial universe. That firm was also retained to promote is vital. Fresh-faced and with economics degree in some new global stock exchanges that In January, popular website Reddit took hand, it was shortly after the hit movie “Wall would eventually merge, as global markets the investing and finance world by storm, Street” came out and captured so much at- and economies advanced. It was clear, the pumping up the valuation of certain stocks tention. In fact, some of the very same floor career path intended, and the path taken, seemingly on their last legs. One of those brokers shown trading in scenes within the had been getting closer to their own merger. was GameStop, the largest brick and mortar movie were familiar faces from the Stock This year, Butler Associates marks 25 video game retailer, with a business model Exchange floor. The trading posts were years since we first opened our doors. What reminiscent of Blockbuster Video in an era brimming with anxious brokers buying and started out as a firm focused on servicing of Amazon and Netflix. selling blue chip stocks, often placing buy first responders, labor, public policy and GameStop’s stock price had dropped to orders for customers based on rumors and crisis matters, law firms and litigations, has $3 and so-called amateur investment blog- selling based on news. evolved to be so much more. gers working in unison pushed it towards Back then, one would soak in market Decades after first setting foot inside the $20. Hedge funds sought to capitalize by knowledge from tuning in to see who was New York Stock Exchange to begin a career shorting the stock. The Reddit community appearing on “Wall $treet Week” with Louis on The Street, I’m still in awe when walking countered by pushing the price higher. By Rukeyser. We’d go to the college library to past this historic landmark, but now to visit January 20th, it was $40 and by the 28th it read the Wall Street Journal, touching ink our agency clients that include prominent was $483/share. A week later it deflated to and paper, something less frequent in 2021. financial firms. $50 and then up again to $180. I walked away after that summer job to And while “Wall $treet Week” might have I also recently received a lesson about complete my degree, having received offers been very cool to watch from our college the cryptocurrency DogeCoin from my from two trading firms. Then, upon gradu- dorm, thinking how smart we would be 18-year-old while traveling to tour a college. ation, I interviewed with a large banking in- absorbing the advice of gurus, I’ve come to His high school friends were making a kill- stitution and a major bond house. Ready to value being in the studio greenroom of the ing on it. Launched by two IBM software accept one of the offers, my dad suggested I same show even more. In one instance, I be- engineers in 2013, it was initially created as do one more interview. I agreed. lieve I may have been the only non-billion- a joke currency, using the Shiba Inu meme I traveled to New York City Hall for a aire in the room. “Doge” as its logo. Its market capitalization job interview, just a five-minute walk from The experiences over three decades in our peaked in early 2018 at $0.017. NYSE. The interview, inside a bustling press amazing business has been rich and reward- Over the pandemic, online campaigns office newsroom, went better than expect- ing and not something I might trade in so sought to boost the price towards $1. Per ed. It hummed with reporters from the New easily. CoinDesk’s price index, it ended 2020 at less York Times, Associated Press, NBC-News Thomas P. Butler is President of Butler As- than half a penny per coin. Then with 2021, and all the major dailies, radio, TV stations, sociates Strategic Communications. 

14 MAY 2021 | WWW.ODWYERPR.COM

FEATURE Consider these PR and IR best practices around an IPO

Key recommendations for PR professionals when representing each contact at key financial publications, at companies that are ready to go public. the beginning of the engagement, in order By Curtis Sparrer to maximize return on outreach and to most effectively leverage media relationships. In n the heels of a strong 2020, which saw and email surveys of relevant audiences, in- addition, the PR and IR teams should share new all-time highs for the Dow Jones cluding potential investors. program calendars covering all relevant Oand the S&P 500, the stock market of With such data in hand, PR/IR teams can initiatives, thereby enabling them to map 2021 also appears poised to set new records. plan their pre- and post-IPO communi- out opportunities for collaboration and Among the events driving last year’s market cations strategy. In this phase, aligning on cross-pollination. were more than 300 IPOs on the NASDAQ, what success looks like, in terms of aware- Post-IPO which raised more than $80 billion in capi- ness among key stakeholders, becomes After the IPO has tal. What’s more, the IPO market shows no central to the exercise of planning. Firms launched, companies signs of slowing. During the first quarter of should ask themselves what specific com- should maintain this 2021 alone, more than 100 companies went munications deliverables will constitute a type of collaboration. public, and a variety of technology and con- measurable track record of success to excite Robust financial com- sumer firms are slated to enter the public and entice investors and the market. This munications programs markets as this year goes on. examination will help to clearly establish should regularly cre- For PR professionals working for compa- collective benchmarks that help position the ate and refine themes nies that are ready to go public, the times firm going public as a “company to watch” and messages for in- Curtis Sparrer before, during and after an IPO can mean with a strong financial future and leaders vestors and the market, lots of excitement and lots of work, as well who are visionaries in their field. For exam- looping in IR and the office of the CFO. as a great opportunity to collaborate with ple, in many cases when companies go pub- Cross-functional teams should manage one’s peers in investor relations. Having led lic, new board members or executive hires the quarterly financial reporting process, numerous clients through IPOs, my com- will be added for their specific expertise. including having a plan for post-earnings pany’s team has compiled a number of best This presents a meaningful opportunity to media outreach each quarter. Best practices practices around communicating to target highlight this additional expertise and raise should also include a programmatic review audiences—including banks/analysts, in- awareness with key investor audiences. of forward-looking financial guidance and vestors and the media—that can help artic- Messaging being aware of any material events that ulate a company’s unique value proposition Once broad metrics are established, must be reported to the SEC, which are of- while making the process of launching into teams should work together to develop ef- ten announced via press release and must the public markets smoother and more effi- fective messages. These messages should be timed in concert with other news. cient. Following are some key recommenda- drive communications throughout the IPO On an ongoing basis, the PR and IR func- tions that will help make the most of an IPO, process, focusing on the company’s track tions should coordinate select top-tier me- ideally driving a richer company valuation. record and unique story. PR and IR should dia briefings that are taking place around Prior to the IPO develop a clear and concise corporate nar- investor events like conferences and road During the several months leading up to rative that states the company’s positives, shows. Keeping top-tier media informed an IPO, PR and IR teams should begin to while also addressing company risks head- has the effect of supplementing other tools, plan communications strategy and estab- on and simultaneously remaining sensitive including press releases, bylined articles lish a roadmap for execution. This includes to any potential financial disclosures. and op-eds, as well as social media updates taking an assessment of staffing/personnel Collaboration and investor communication. All of these needs and evaluating when and where out- PR and IR teams should also meet regu- tools are useful in providing ongoing “air side resources, including PR agencies and larly, taking a collaborative approach to all cover” for an integrated PR and IR effort investor relations professionals, may need to stakeholder communications. This includes and should be integrated into larger com- be brought in to handle the additional work- creating alignment around all recommen- munications programs. Finally, cross-func- load. This is an important first step, because dations that cover media outreach, as well tional teams should prepare for the annual the regular flow of PR work must continue as documents like press releases, fact sheets reporting cycle and combine resources to throughout the IPO process, and spreading and investor FAQs. It should also extend create content for the published annual re- resources too thin should be avoided. to meetings and other activities; for exam- port, which will usually integrate financial Success metrics ple, the PR team should sit in on investor information and various marketing assets. Building a communications campaign calls. And, similarly, the IR team should Wrapping up around an IPO not only requires a solid participate in meetings with reporters at Given the speed and volume of corporate understanding of the necessary resources agreed-upon outlets. This helps to ensure IPOs, PR people should be prepared for “li- and expertise to handle the work, it also that everyone is working with the same set quidity events” as part of their professional requires an understanding of key metrics of facts and is knowledgeable about interac- repertoire. Each IPO represents a signifi- for success. Well in advance of an eventual tions with investors and key media, thereby cant opportunity for cross-team collabora- IPO, companies should look at key aware- reducing chances of miscommunication. tion and serves as a venue for employment ness metrics in order to establish a baseline In addition, a collaborative PR and IR of best practices like those outlined above. around company awareness and percep- team should develop a system for routing Doing so will help deliver communications tions with key analysts, influencers and incoming investor and media inquiries and results that ultimately burnish a company’s investors. This research can be done in the create a plan to manage both those inquiries image while enhancing shareholder value. form of media analysis, review of analyst and ongoing relationships. This includes Curtis Sparrer is Co-Founder and Princi- reports and original research like phone making a determination around owners of pal at Bospar. 

16 MAY 2021 | WWW.ODWYERPR.COM

FEATURE How to find the right PR firm The top 10 factors to look for in the course of determining whether a PR agency is the best fit for your organization. By Bill Haynes adjust their tactics to meet your evolving goals. Also ask about the average tenure of s the world begins to emerge from mand the agency’s best strategists—but employees. A growing agency can provide the disruptions caused by COVID, not so big that you overwhelm the firm’s growth opportunities. If employee turn- Aas economies start to heat up again capacity to deliver a sustained and effective over is low, the agency must be providing and as companies become more comfort- program—is critical. the positive work environment that leads able making plans and investing for future Team. What’s the makeup of the team to engaged and happy employees who are growth, an increasing number of compa- that will work on your account? Finding an more likely to be vested in their team, their nies are embarking on a quest to identify a agency that will field a team of profession- company and your success. PR firm to help them achieve their business als at different levels and responsibilities Budget. It’s important for a company to objectives. and truly work as one team is important. establish an adequate budget for an agen- Some of the largest companies are issu- Make sure you have a good understand- cy to provide the nec- ing comprehensive, multi-step RFPs to ing of who will comprise that team and essary service for your dozens of agencies, while others are iden- their backgrounds and responsibilities. It account. Ask peers tifying candidate agencies through Google may not be the ones who are pitching you. what their programs and directory searches and by tapping into Be certain you have access to senior-level and budgets are before their network for referrals. Some searchers agency executives who are involved in your launching an agency are PR veterans who know what questions account and can provide ongoing strategic search and share the to ask and can effectively ascertain which advice. budget range and stra- agencies have the right factors that are Integrated services. Does the agency tegic priorities with most likely to lead to a long-term, success- have an integrated approach to help you de- agencies as part of your ful relationship. Others are new to work- velop your brand and build your business? search process. That way Bill Haynes ing with agencies and may be new to their These days, traditional media relations, neither party wastes company. or “earned media,” isn’t enough. Earned time if an agency feels it’s not feasible to With lessons learned from taking part in media can be leveraged through multiple achieve your objectives with your budget. hundreds of new business searches, here’s a channels such as social media, website and Agencies can then respond to your search list of 10 important themes for companies newsletters (it would be a mistake to rely with a plan they believe offers the best ROI. to explore to find the best agency for them: solely on publications’ subscribers to see This may include a core program with Focus. Does the agency focus on your your news). Likewise, content develop- optional additional tactics with a la carte field? You don’t want a generalist. Knowl- ment, or “owned media,” is an important pricing. edge of PR and marketing is important, offering from agencies. This can include References. What do references say but it’s only half of what your agency needs blogs, articles, white papers, studies, vid- about the agencies? Are they just checking to succeed. The other half—knowledge of eos, podcasts and other means to capture the boxes in their response to your queries the industry—is equally important in or- the perspectives of your executives and or are they passionate advocates for the der to understand as fully as possible your share it with your audiences. Of course, agency, its individuals and services based company and where it fits in your business all content developers aren’t alike. Make on the success and relationships they have ecosystem, to offer strategic advice based sure the agency has former journalists in built together? Hiring an agency is like on that knowledge and to be able to convey house who are involved with your account hiring employees. If references don’t pro- your unique value proposition to your tar- and who can conduct the research and in- actively vouch for their exceptional abili- get audiences. terviews and write compelling, non-salesy ties and say, “You have to hire them,” then Relationships. Does the agency have articles your audience will want to read. don’t. strong relationships with your target au- Strategic approach. Does the agency Chemistry. At the end of the day, are dience? You need an agency that knows pride itself on developing and executing you confident that the agency can help not just the names of target publications, 12-month proactive plans, or are they wait- you achieve your objectives? Are they pas- but that also speaks regularly with reporting for you to call them and tell them what sionate about partnering and succeeding ers there and knows what interests them. to do? Too often we hear from prospective together with you? And do you want to The same is true with industry influencers, clients that they have just fired their PR work with them? Make sure you can have data providers, consultants and conference firm because they were waiting around candid conversations with one another and and awards organizers. Having existing for company news or direction. They were that you’re inclined to trust them. This is relationships—not just a database or list— not taking the initiative to understand the the foundation upon which long-term re- saves time and boosts efficacy for agency client and its business objectives and offer lationships are built. Along with celebrat- and company alike. strategic initiatives on a sustained basis to ing successes together, there will always Size. Is the agency the right size for you? help the client accomplish its goals. be things that you wished had gone better. Do you need to have an agency with hun- Client and staff turnover. What is the Find an agency with which you feel com- dreds or even thousands of employees? length of an average client relationship? fortable debriefing and adjusting the plan At the other end of the spectrum, will a You may be signing a one-year contract, and process and you’re likely to enjoy a freelancer have the time and strategic per- but how often do clients renew those successful long-term relationship. spective to help you long-term? Finding an contracts year after year? Make sure your Bill Haynes is Founder and CEO of Back- agency where you’re big enough to com- agency can keep the PR program fresh and Bay Communications. 

18 MAY 2021 | WWW.ODWYERPR.COM

FEATURE Misses, hits and optimism for what’s next A look at some of the trends and challenges that are expected to impact brands and communications professionals this year. A few short years ago it would have been unheard of for companies from different By Matt Kucharski industries to agree to adhere to common n the June 2020 issue of O’Dwyer’s, my The Evidence: A recent article in Becker’s metrics on social responsibility. colleagues at Padilla and I laid out six pre- Hospital Review highlighted how health The rise of legal disputes Idictions that we believed would come to systems across the country are using em- The Prediction: Lawsuits challenging how bear once we emerged from the COVID-19 ployee feedback to bounce back from the businesses and govern- pandemic. Our intention was to look be- pandemic and using the strategic com- ment entities respond yond the challenge of the day and share munications tools they created during to re-opening would re- thoughts on what professional communi- COVID-19. quire legal and commu- cators would be managing over the long LinkedIn is leveraging Microsoft Viva, nications departments term. In the interests of holding ourselves an analytics tool, to survey employees and to stay in lockstep. accountable, we thought we would see how use that feedback to improve employee The Evidence: Next to we did roughly one year later. well-being after the pandemic more accu- public relations profes- First, let’s acknowledge where we missed: rately and continuously. Given numerous sionals, some of the bus- • Our predictions were written and sub- studies point to a post-pandemic exodus of iest people during this Matt Kucharski mitted before George Floyd was killed by employees from their current jobs, an em- pandemic have been in police—and before the nation experienced phasis on employee experience and work- the legal profession. New subsequent protests, violence and destruc- place culture will continue for the foresee- Jersey parents have sued to re-open schools tion—laying plain the long-simmering able future. after COVID-19 closures. The State of Cal- frustration of racial injustice and social in- Reinventing the customer experience ifornia has sued the country’s largest chain equities present in our society. These events The Prediction: Innovations introduced of senior living communities for mislead- sparked a widespread evaluation and accel- during COVID-19 to prevent lost revenue, ing consumers on quality ratings relating eration of DE&I commitments and actions including re-imagination of digital experi- to COVID-19, and there’s a cottage indus- that we hope will continue. ences, would not revert after the pandemic. try of lawyers writing—and challenging— • We had a presidential election that was The Evidence: OKCupid frequently uses employee and customer liability waivers. anything but routine, with allegations of customer surveys to gauge values and be- Community relations gains relevance fraud, a sitting president unwilling to con- haviors. The online dating app leveraged The Prediction: Corporate community cede and an unprecedented attack on the that feedback to incorporate a new feature relations will shift toward addressing ineq- Capitol. The wave of attempted state-lev- related to finding a date who is passionate uities in food, health, education and other el election reforms—most based on un- about climate change. For every Advocate basic needs. The pandemic and the death founded claims—has resulted in corporate Profile Badge that someone adds to their of George Floyd exposed gaps in these sys- leaders speaking out against voter suppres- dating profile, OKCupid will donate a dol- tems. sion, which affirms that companies who lar to earthday.org. The Evidence: Examples exist across the had normally tried to remain under the ra- Audi has launched a new flagship store board in every state and in every industry. dar now are being compelled to make their where “the latest innovations from the Retail giants Walmart and Sam’s Club are opinions known to employees, customers, fields of sustainability, architecture and teaming with Feeding America. A coalition investors and communities. digitalization” intersect. Digital points of of 35 Minnesota-based companies pooled • And this damn pandemic. I think most contact throughout the location make it resources to deliver $2.35 million in grants of us were hopeful that we would be re- more than your average auto showroom. to address the state’s digital divide, and the turning to some sense of normalcy at the For many companies, the pandemic ush- University of Minnesota launched a $5 beginning of the year, but here we are well ered in changes to the customer experience million anti-racism health equity research into 2021 and while there’s light at the end that they’ve been wanting to implement for program with funding from Padilla client of the tunnel and many of us have gotten years. Blue Cross and Blue Shield of Minnesota. at least that first jab, the fatigue is reaching Fighting anxiety with clarity, transparency What’s next? its limits. The Prediction: Companies requiring fi- The challenge for communicators is to To be fair, we weren’t the only ones who nancial communications will need to be hold onto the strategic seat at the table they weren’t able to predict these events, so that more diligent about communicating at key earned by being essential to their compa- being said, let’s look at where we hit the inflection points to reduce uncertainty and ny’s success during the pandemic. Across a mark and what’s next for brands and com- put important events in perspective. wide range of industries, we’re seeing communicators. The Evidence: More than 60 leading pub- municators rise to the occasion and engage New stakes for engagement and culture lic companies have signed on to support more strategically and more meaningfully The Prediction: Smart businesses would the World Economic Forum’s Stakehold- with the C-Suite, which is a positive out- use the stress of the past year to anticipate er Capitalism Metrics, which outline a come after an incredibly challenging 18 and adjust to what kind of employer they commitment to adopt a set of universal, months. wanted to be over the long term, emphasiz- comparable disclosures of Environmental, Matt Kucharski is President of Padilla, ing the need for employees to be agile and Social and Governance factors and help based in Minneapolis with six offices across resilient and involving them in shaping the assure progress toward U.N. Sustainable the U.S. Padilla is part of the AVENIR future. Development Goals. GLOBAL network of agencies. 

20 MAY 2021 | WWW.ODWYERPR.COM

FEATURE Let’s bring more women into PR leadership positions Why are there so few women in leadership roles at public relations Looking ahead The position of women in the modern agencies? world is no doubt changing for the better. Yet, there’s still much work to be done. By Art Stevens From my experience and through conversations with countless accomplished female s someone who’s been in PR agency Another good example can be seen in the leaders in the world of PR, I’ve come to re- life for numerous years, I’ve worked life and experiences of Barri Rafferty, EVP, alize that the key to improving these odds Awith many more women than men. Head of Communications, Wells Fargo. In lies with all senior leadership—both male While studies show that women and men a recent discussion we had, she said she and female—to ensure enter the workforce in approximately equal believes we’re at a tipping point where big women are not left be- numbers, the sad reality is that women firms are being seen as run by women just hind. tend to lag in promotions—and leadership as easily as smaller firms. As leaders, both male roles—from their very first foray into man- Rafferty joined Wells Fargo in July 2020 and female, we must agement. from Ketchum, where she was the agen- demonstrate conscious One eye-opening study shows that 75 cy’s president and CEO, the first woman inclusion as a business percent of overall PR practitioners are fe- to be the CEO of a top-five public relations priority. The single male, but only 20 percent of PR leaders are agency. She transformed the agency into a most powerful thing a women. Why is this the case? marketing communications consultancy PR agency or firm can For starters, I think what has held many and has been an “intrapraneur,” launching do to promote more Art Stevens women down professionally are the anti- and evolving businesses from digital, social, women leaders is to help quated, old-school attitudes long-held by analytics, influencer, sports, entertainment build the desire and encourage employees some men: the view that women had noth- and experiential. to make decisions. ing to offer in the world of business. During our conversation, she recalled I truly believe there’s never been a better I’ve never found that to be the case. I’m how excited they were when her partner time for women to climb into leadership proud of the women who’ve passed through group hit 50-50, especially seeing more and positions in PR, because both on the client my former public relations firm, which more women in top positions. and agency side, there’s an obligation that ranked among the top 25 independent “Ultimately, both men and women in we must do better to ensure gender equality. firms in the U.S. I’m equally proud to say the field have to be advocates to make sure This gives everyone equal advantages and that a number of women who worked there that we can eliminate the bias in the system access, levels the playing field, strengthens have gone on to become senior leaders at and that there are equal opportunities for an agency’s culture and, most importantly, major agencies and corporations. women to reach those highest ranks and in provides equal opportunities for all. I’m also thrilled to have given women the greater numbers in the future,” she said. Art Stevens is Managing Partner of The opportunity to blossom professionally and This is powerful advice from someone Stevens Group, comprised of consultants to prove themselves worthy of any organiza- who was the first female CEO of a top-five the PR agency profession and focusing on tion. In fact, I’m still in touch with many of global PR firm. mergers, acquisitions and management con- Bridging the gap these inspiring females; they’ve helped me sulting.  professionally over the years in a variety of I believe there are numerous steps that instances. women can take to improve their position PR news brief When it comes to brains, smarts, talent and achieve PR workplace equality. and professionalism, in my opinion, there’s One is to level the playing field: we must ICR puts Topps back on Wall Street nothing that can hamper and stunt the pro- strive to offer women the chance to take up ICR Inc. is handling Topps trading card company’s fessional direction of women today. leadership positions without being dimin- return to Wall Street as it agrees to merge with Mudrick Capital Acquisition via a SPAC deal valued I interact and engage with more women ished. at $1.3 billion. PR agency CEOs than men, so I question It’s also critical to engage and collaborate The investment firm of former Walt Disney Co. the premise that not enough women have on these issues on a more significant scale. Chief Michael Eisner bought Topps—which launched the top jobs. For example, today’s female influencers in Brooklyn 82 years ago—in 2007. PR ahead of the curve for female pros can utilize their PR and communications Topps has license deals with Major League Base- ball, Major League Soccer, World Wrestling Enter- While many other industries and profes- skills to create awareness and spread the tainment, Disney and Formula 1, as well as digital sionals are behind in opening the doors to word about gender bias at the executive gift card relationships with Uber, Hulu, Netflix, Nike, women, the public relations world has been levels. With this strategy, more and more DoorDash, Airbnb, Instacart and Deliveroo. ahead of the curve. female leaders can step up to the cause and The firm’s “edible entertainment” unit markets con- fections under the Bazooka, Ring Pop, Push Pop, and The late Marilyn Laurie, former EVP of leave a better world for future generations. Baby Bottle brands. PR and brand management at AT&T and During a recent interview I had with Topps enjoyed record sales of $567 million in 2020, past president of the Arthur W. Page Soci- Marian Salzman, SVP, Global Communi- up 23 percent from 2019. ety and the PR Seminar, is a good example. cations, Philip Morris International, she “The strong emotional connection between One of the giants of PR, she was the first imparted the following: “I give the same the Topps brand and consumers of all ages is truly foundational, and when combined with our growing woman to head up PR for a company the advice to both young women and young portfolio of strategic licensing partnerships, creates size of AT&T. She’s also known for her com- men—you must treat everyone in the work- a profitable business model with meaningful competi- munications work contributing to Earth place as you would a fraternal twin. Treat tive advances,” said Eisner in a statement. Day’s launch. Laurie truly set the stage for men and women with that same level of Topps will trade on the NASDAQ when the SPAC countless females in the PR industry. care and concern.” Sage words indeed. deal is completed by the third quarter.

22 MAY 2021 | WWW.ODWYERPR.COM

REPORT Tech firms ride out a tough 2020 Getting closer to clients The tech PR market took a small hit during the pandemic year, but Moving up one spot on the list, Walker there were plenty of bright spots in the midst of a taxing situation. Sands had “a great 2020,” according to CEO Mike Santoro. Fees from tech clients rose By Steve Barnes from $18.8 million to $20.2 million, a jump hile the top 10 firms overall in That strategy was based on helping cli- of 7.5 percent. O’Dwyer’s rankings of technol- ents and employees navigate the disruption In addition to a team that has been “work- Wogy PR firms saw net fees from caused by the pandemic. “With swift ac- ing their butts off,” that performance was tech clients drop by 4.9 percent in 2020, six tion,” Borders said, “we were able to create driven by “our strong reputation for B2B of those firms—Highwire PR (#4), Walker an environment where our teams and work marketing and a world-class sales and mar- Sands (#6), PAN Communications (#7), had a real impact.” keting team.” ICR (#8), The Hoffman Agency (#9) and There was an increased demand for inte- As far as the tech sector is concerned, Inkhouse (#10)—actually billed more last grated digital offerings, virtual event sup- Santoro zeroes in on two major trends: year than they did in 2019. port and experiential marketing in the past SPACs and a poten- Meeting the challenges year, according to Borders. She also said tial antitrust backlash Hotwire CEO, North America Heather that Highwire has “noticed more conversa- against Big Tech. “Tech Kernahan said that despite the hurdles of tion around data-driven PR and the use of companies have been the past year, the agency “maintained a real- data-driven insights.” the big beneficiaries” ly strong business.” Highwire’s beefed-up digital team allowed of SPACs, he said, and It remained in the number-two spot in the the agency to expand its digital services any meaningful activi- tech rankings, and Kernahan said “the busi- “beyond owned social media program into ty on the antitrust front ness performance underscores our position sophisticated amplification across multiple “could unleash new VC investment as money as trusted, strategic consultants for our cli- channels.” Mike Santoro ents and our ability to create momentum in Borders sees “the intersection of health follows new opportu- challenging circumstances.” and technology” as an area primed for ma- nities.” She added that the accelerated pace de- jor growth over the next year. That doesn’t Walker Sands’ clients exhibited increased manded by the past year’s many changes mean just COVID-related efforts, either. interest in branding, web design and devel- has both a downside and an upside. The “We’re also seeing the same level of trans- opment, and marketing strategy work, San- speed of technological formation across treatment for chronic toro said. “In Q2 and Q3,” he noted, “many development has led to a conditions, heart health and mental health/ clients ramped down customer acquisition growth in opportunities wellness.” spend and took a fresh look at brand-ori- for communicators, she For success in 2021 ented projects they had been putting off.” noted. “Companies have and beyond, Borders One positive effect of the pandemic, he had to deliver at an in- said that “creating a said, is that “we’ve been able to get closer credible pace and I think thoughtful approach and much more personal with many of our we’ll continue to see the to building culture and clients ... That personal connection has led need for enterprise tech positive team dynamics to more candid conversations and ultimately stronger relationships.” Heather Kernahan to continue to deliver in will be critical.” new ways, faster.” She also stresses the While Santoro said that Walker Sands has Client needs have changed as well, Kerna- importance of creating “learned to pitch new business and handle large quarterly business reviews remotely,” han said, with the uncertainty of the current “full top-to-bottom stra- Emily Borders environment meaning that for many clients tegic communications he still sees some role for in-person profes- “throwing out the playbook and navigating programs,” including brand building, sales sional interaction in the new normal. “But how to adjust plans” was a necessity. enablement, lead generation and internal given the time saved and the nature of dis- She also said that the changes brought employee engagement. “Demonstrating a tributed teams, I think you’ll continue to see about by the work-from-home environ- distributed wealth of expertise,” she said, some of the big in-person moments contin- ment are here to stay. One of the biggest “will put agencies in the best position to ue in a virtual environment.” A focus on flexibility challenges firms face in the coming year, she succeed.” said, is making sure that the lessons learned “There’s no doubt this year challenged us from the pandemic remain in place. “As the in all aspects,” said PAN Communications world creates a new normal, communica- Executive Vice President Mark Nardone, tors can’t lose sight of the guidelines we put “but we saw a roughly five percent increase in place this past year that helped determine in revenue.” what messages were most important, most PAN saw its tech-related fees rise from helpful and most authentic.” $19.3 million in 2019 to $20 million last Making an impact year, an increase that Nardone attributes to Highwire PR brought on 15 people in “solid performance around organic growth 2020, and grew by 24 percent. According and a very healthy new business pipeline.” to Highwire Principal Emily Borders, that’s Another strong point is the resiliency and because the agency “outlined a strategy at flexibility of the tech sector in general, al- the beginning of the pandemic that saw us lowing tech companies “to be able to adapt through the entire year.” O’Dwyer’s technology PR rankings, pg. 26 _ Continued on page 60

24 MAY 2021 | WWW.ODWYERPR.COM

RANKINGS OF FIRMS SPECIALIZING IN TECHNOLOGY

Firm 2020 Net Fees Firm 2020 Net Fees

1. Edelman, New York, NY $250,632,000 34. Kivvit, Chicago, IL $1,598,940

2. Hotwire, New York, NY 41,748,611 35. Peppercomm, New York, NY 1,586,040

3. Finn Partners, New York, NY 30,050,000 36. Coyne PR, Parsippany, NJ 1,500,000

4. Highwire PR, San Francisco, CA 24,163,050 37. Standing Partnership, St. Louis, MO 1,192,965

5. Zeno Group, New York, NY 20,875,754 38. 360PR+, Boston, MA 1,037,427

6. Walker Sands, Chicago, IL 20,169,584 39. CommCentric Solutions, Inc., Tampa, FL 897,706

7. PAN Communications, Boston, MA 19,918,991 40. Jackson Spalding, Atlanta, GA 880,082

8. ICR, New York, NY 18,443,930 41. French | West | Vaughan, Raleigh, NC 774,003

9. Hoffman Agency, The, San Jose, CA 15,115,000 42. Pierpont Communications, Houston, TX 756,713

10. Inkhouse, Waltham, MA 11,755,489 43. Bob Gold & Associates, Redondo Beach, CA 601,064

11. 5W Public Relations, New York, NY 10,800,000 44. Feintuch Communications, New York, NY 575,314

12. Matter Communications, Boston, MA 10,041,000 45. Bellmont Partners, Minneapolis, MN 434,588

13. Racepoint Global, Boston, MA 9,281,740 46. Tunheim, Minneapolis, MN 409,349

14. Clarity, New York, NY 9,035,115 47. Landis Communications, San Francisco, CA 362,000

15. MWWPR, New York, NY 8,232,993 48. Montieth & Company, New York, NY 323,000

16. Fahlgren Mortine (includes TURNER), Columbus, OH 7,867,949 49. Berk Communications, New York, NY 314,500

17. Merritt Group, McLean, VA 7,113,910 50. Greentarget Global LLC, Chicago, IL 282,000

18. Bospar, San Francisco, CA 6,242,285 51. BoardroomPR, Ft. Lauderdale, FL 275,000

19. Touchdown PR, Austin, TX 5,600,633 52. Rasky Partners, Inc., Boston, MA 275,000

20. LaunchSquad, San Francisco, CA 5,471,510 53. Pugh & Tiller PR, LLC, Annapolis, MD 231,017

21. Lumina Communications, San Jose, CA 5,204,425 54. MP&F Strategic Communications, Nashville, TN 230,150

22. SourceCode Communications, New York, NY 5,168,512 55. FrazierHeiby, Columbus, OH 188,194

23. March Communications, Boston, MA 3,869,104 56. WordWrite Communications LLC, Pittsburgh, PA 117,000

24. Idea Grove, Dallas, TX 3,577,000 57. Fish Consulting, Fort Lauderdale, FL 107,500

25. Crenshaw Communications, New York, NY 3,061,499 58. Beehive Strategic Communication, St. Paul, MN 75,436

26. ARPR, Atlanta, GA 3,022,086 59. Akrete, Evanston, IL 65,607

27. Padilla, Minneapolis, MN 3,019,908 60. O’Malley Hansen Communications, Chicago, IL 61,933

28. Havas Formula, New York, NY 2,966,409 61. J Public Relations, New York, NY 52,500

29. Citizen Relations, Los Angeles, CA 2,634,085 62. BizCom Associates, Plano, TX 46,542

30. TruePoint Communications, Dallas, TX 2,629,819 63. rbb Communications, Miami, FL 42,016

31. Gregory FCA, Ardmore, PA 2,315,110 64. Stuntman PR, New York, NY 7,500

32. Hunter, New York, NY 1,700,000 65. Champion Management Group, Dallas, TX 5,000

33. Trevelino/Keller, Atlanta, GA 1,600,000