I wanted to share this amazing interview with Matthew Harrington, CEO of Edelman public relations one of the largest PR agencies in the world. I strongly recommend you read it and absorb the information. (source Newsweek.com)
Matthew Harrington, 48, took over as CEO of Edelman public relations in March 2008, just a few months before the recession hit. Many companies slashed their marketing budgets during the financial crunch, presenting big challenges to firms such as Edelman. But under Harrington’s leadership, things at the company have begun to turn a corner. Over the past fiscal year, Edelman’s U.S. operations grew 10 percent, grossing $320 million. Harrington would hardly call the work easy, but he’s used the downturn as a chance to reexamine, and in some cases shift, the company’s business strategy. He spoke with NEWSWEEK’s Julie Halpert about the challenges his firm has faced, and how it hopes to remain on top. Excerpts:
How do you think an executive successfully leads a company in a post-recession world? The key lesson we learned coming out of the recession is never to waver from being clientcentric. That is a constant that stood us well during the most difficult times, and as the economy recovers, “Edelman Excellence,” our quality initiative, helps us remain focused, as it ensures we’re asking clients about their shifting priorities and that we’re both anticipating need and responding appropriately.
What do you see as the biggest challenge facing your industry now?
One of the challenges is that the marketplace for marketing is changing so quickly and dramatically that the advertising firms, public-relations firms, and digital shops are all now going after the same piece of the pie. The upside is that there is also much more opportunity because our playground has gotten a lot larger.
So how do you stay competitive in this bigger space?
Through constant reinvention. The way we translate that at Edelman is we’re constantly challenging ourselves as to whether the counsel we’re giving clients is breaking new ground, and whether we’re creating content that helps a client tell their story in new ways and through new channels. For example, with Dove, we ask questions like, “Are we leveraging social media, You Tube and Facebook, to their advantage?” By expanding beyond our traditional public-relations realm into more dynamic integrated marketing and aggressive social-media engagement, it’s opened a whole new world [to us and our clients].
What kind of people are you bringing into the fold to stay on top of the social-media marketplace?
We are hiring very different folks in terms of their skill set. Recent hires included people fromBusinessWeek, the marketing department of the Metropolitan Opera, as well as creative directors, screenwriters, and videographers. They’re supplementing those of us, me included, who are more traditional public-relations counselors.
What do you think makes public relations an attractive field?
Public-relations professionals are unique in that you get to learn about different industries and topics. You have to figure out how to translate the most complex science or technology and make it accessible to consumers or other stakeholders who aren’t proficient in that topic. That’s intellectually rewarding.
