Posted by Media Relations on Monday, August 28th, 2006 - Comments »
At one stage or another, we are all going to experience the loss of a client through no fault of our own. Relationships between companies and their PR agencies are often short lived – it’s the nature of the industry. All it takes is a change in management or a new strategic direction and the PR agency finds that the relationship is being terminated.
PR contracts are also very dependant on the economic climate. When a recession hits, the marketing budget is the first thing to be cut.
While losing a client is always tough, remember, there is always something to be gleaned from every business relationship. Having worked with a client in a particular industry for a year or two, you have developed expert knowledge of that industry, the key media players, competitors and emerging trends.
When parting ways with a client, it is important to take the knowledge you have attained and apply it to your own marketing. Why not look for another client in the same industry? You certainly have the expertise and background to serve another company in that field.
PR agencies must be resilient and part of that is taking a negative and making it into a positive.