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Why midsize is the right size

By Mechelle Manuel on October 4, 2018

By Barbara Bates, CEO Hotwire

Whenever I hear Hotwire described as a midsize agency I consider it a badge of honor. We’re big enough to give ambitious CMOs and others on the client side the national and international support they need. But we’re certainly not a cumbersome behemoth like the world’s largest PR networks.

It’s a good place to be. And clients frequently agree that midsize is the right size.

For supporting evidence, look no further than The Holmes Report rankings of the world’s top 250 PR firms published earlier this year. This found that fee income growth across the world’s top 10 PR firms was a mere 0.9%. By contrast, the average growth rate for midsize firms was 6.1%.

In other words, the midsize band currently enjoys a fee income growth rate more than six and a half times greater than that of the Top 10. What does that tell you about whose model seems to be working and whose does not?

One of the drivers of growth for midsize firms has been the falling away of the old Agency of Record paradigm. Rather than put all their eggs precariously in one basket, brands increasingly looking to work with a variety of agencies. Some refer to this trend as ‘projectization’. Whatever you choose to call it, it’s by no means unique to clients from within the technology sector.

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