The trends that drove PR & Corp Comm in 2023, and the road ahead in 2024
As the year draws to a close, it’s time to take stock of the important trends and developments that dominated the industry, with long term ramifications. 2023 was a year when Artificial Intelligence disrupted every industry; Public Relations and Corporate Communications, too, did not remain immune to AI’s wide-ranging impact. However, AI was not the only gamechanging development. Adgully spoke to a cross-section of PR and Corporate Communications leaders to do an exhaustive recap of this industry, as well as understand some of the trends that will dominate this industry in 2024.
PR & Corp Comm Industry’s performance in 2023
Tarunjeet Rattan, Managing Partner, Nucleus PR, noted, “Empirical data suggests that most firms have done 5X the business they did during the pandemic. At the start of the year, there was an attempt by the brand world to push for a pre-pandemic ‘course correction’, while the PR industry pushed back to break away and evolve from that set perception. This has led to an interesting amalgamation of services now being offered by PR agencies and probably a new definition of the profession.”
The PR industry also saw an increased curiosity about the profession judging by the RFPs requested on a weekly basis. This also called for a larger mandate for the entire PR industry to educate and upskill the brands they worked with on how PR is evolving and changing this year.
According to Rattan, talent in the PR industry has also gone through a change at all levels. “While the new JD for a new joinee in PR is still up for discussion, the middle management and leadership teams have had to upskill quickly to ride the tide, assimilate information on the go and churn out strategies that make sense in the new world,” she added.
Growing demand for purpose-driven communication
In 2023, the PR industry witnessed a dynamic landscape characterised by evolving media consumption patterns and an increased demand for purpose-driven communication, observed Aman Gupta, Managing Partner, SPAG FINN Partners. He added, “At SPAG FINN Partners, we navigated these shifts successfully by staying agile, embracing technology, and prioritising authentic storytelling. The industry’s resilience and adaptability were evident, and we foresee continued growth as we leverage these lessons to shape our strategies in the years to come.”
Emerging trends and innovative strategies
PR industry leaders unanimously agree that technology will emerge as an important enabler for the function as they leverage technology to enhance efficiency, track real-time and understand trends. Also, social media channels of the brand and its leadership will emerge as powerful mediums to communicate the narrative.
Akanksha Jain, Head - Public Relations and Corporate Communications, BharatPe, pointed out, “Focus will be a lot more on purpose-driven communication, as consumers today are more keen to be associated with brands that have a clear impact narrative. In turn, the ESG roadmap will have to be clearly carved out for organisations.”
Also, the Communications role will focus a lot more on larger reputation building and safeguarding, by leveraging earned, paid, social and owned media. It is the owned media channels that will be the next game-changer for the companies, driven by a well thought-through content strategy- that caters to a diverse set of stakeholders. Additionally, Key Opinion Leaders will continue to play an important role in driving brand narratives.
Jasrita Dhir, Director - Marketing and Communications, Karkinos Healthcare, highlighted some emerging trends:
- Integrated Communications Approach: The line between traditional PR, new-age PR, digital PR has all but blurred. 2024 will see Comms professionals demand and PR agencies present integrated communication solutions incorporating external and internal comms, social media influencers, digital creatives, et al.
- Rise and rise of Podcasts: The medium that is expected to leapfrog further in 2024 is podcast, in both the audio and video formats.
- Emerging need for climate communications.
- Evolving need for ESG and sustainability Comms.
SPAG FINN Partners’ Aman Gupta said, “In 2024, we anticipate several key trends shaping the PR industry. The increasing prominence of immersive technologies (Augmented reality (AR) and virtual reality (VR)) along with data driven audience insights, is transforming the way we engage audiences. These technologies offer new and creative avenues for storytelling and brand experiences. Additionally, the integration of artificial intelligence (AI) and data analytics is becoming a cornerstone of PR strategies, enabling more personalized and targeted campaigns.”
AI to continue to transform PR even more
Mahima Misra, Head of PR & Corp Comm, Good Glamm Group, noted that AI will continue to transform PR even more. “The potential of AI to improve content ranking through SEO optimisation and enhanced audience personalisation will boost PR efforts in 2024. It will also help in media tracking and calculating audience response more efficiently. AI can write about practically anything, including press releases. This may help reduce PR content creation costs while increasing scalability,” Misra added.
Along with AI, Video and Podcast Content will also gain prominence. With the rise in demand for video and audio content, it is no surprise that this is an integral part of the future of PR and still on the list of PR trends. Podcasts (both audio and video podcasts) are in high demand. Videos are effective for telling a highly visual story, too. From regular to luxury PR campaigns, high-quality videos present the perfect medium to showcase your newest products, services, and even brand events. “Not only that, but videos will also help you relay your side of the story during a crisis. Whether short or long, the fact remains that video marketing is here for the long haul,” she added.
Social Media for Online Reputation Management, Contact Building
Social media is the heavyweight champion in PR and will remain so in 2024. Unlike traditional PR methods, social media enables two-way communication between brands and their customers, the media, and other stakeholders. Brand image and reputation enhancement through social media are also likely to continue. Social media will continue to play a role in helping brands manage a PR crisis and neutralise negative publicity.
Misra also considers LinkedIn as an important PR platform to establish brand/ company image and make impact and establish founders and professionals as thought leaders in their field.
Jyotsna Dash Nanda, AVP - Corporate Communications, Dharampal Satyapal Group (DS Group), added here, “In the ever-evolving landscape of business, the integration of artificial intelligence (AI) and technology is universally recognised as a crucial skill for success, transcending the boundaries of company size. As businesses set their sights on 2024, a pervasive commitment to leveraging AI for content creation and writing assistance takes center stage, underscoring the transformative role of technology in shaping communication strategies.”
Furthermore, the strategic use of various platforms and channels emerges as a cornerstone for achieving organisational goals, reflecting a forward-looking approach to digital engagement. Anticipating the importance of staying attuned to public sentiment and changing consumer needs, businesses are planning to harness the power of media monitoring tools and content calendars in 2024, aligning their efforts with the dynamic nature of the information ecosystem.
Madhukar Kumar, Founder & Chief Strategist, Grey Cell PR stated, "It's an exciting time in PR! We're seeing a surge in creative storytelling and digital engagement. At Grey Cell PR, it's like we're digital detectives, always on the lookout for the next big thing. We're embracing tools that help us understand our audience better and tailoring our strategies to be as unique as the clients we represent."
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