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PR Firms need to align with clients business goals to raise fees: Vandana Chopra, KPMG in India on the PRmoment India podcast

Credit: Vandana Chopra KPMG in India

Over the last decade, the conversation around raising PR fees has only strengthened. A major component of increasing compensation is to also increase the value add of PR services beyond media relations. Though PR firms do offer a slew of integrated services, retainers are often not in line with the scope of work. Smaller firms especially get called on to deliver just media relations.

Vandana Chopra, head of brand and communications for KPMG in India says At the moment corp comm can often be the last to know about a business objective. Vandana believes that to get a seat at the table comms professionals must be able to contribute to a company's business goals. She explains how that can be done. Vandana also talks about the trend of journalists moving to lead corporate communications and discusses in what areas and skill sets can this move be successful.

Journalists who do not know how to delegate and manage multiple stakeholders face a challenge transitioning to corporate communications.

Listen in.


Summary

  • PR professionals' role as consultants and their value proposition. 0:00
    • Vandana shares insights on PR industry evolution and how they can ensure value addition.
    • Distinguishing factors between fees charged by consulting firms and PR firms: a seat at the table.
    • Corp comm can often be the last to know about a firm's business goals.
    • PR professionals must adapt to changing client expectations and offer more than just media coverage.
    • How PR firms can impact business objectives.
  • Adapting journalism skills to corporate communication. 6:18
    •  Domain expertise crucial for journalists making a career switch to corporate communication.
    •  Adaptability key to a successful transition, with some journalists thriving in new roles.
    • Vandana's background in financial journalism and strategic planning contributes to their success in their current role.
    • Efficient time management and delegation are key to success in the corporate world.

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