PRmoment India

Paarul Chand

The PRmoment India Leadership Podcast read less
BusinessBusiness

Episodes

Unveiling PR Mastery: Insights from Vandana Chopra of KPMG India
Jul 3 2024
Unveiling PR Mastery: Insights from Vandana Chopra of KPMG India
Ever wondered what sets top consulting firms apart when it comes to public relations? Join us as we uncover the secrets with Vandana Chopra, Partner and Head of Brand and Communications at KPMG India. Vandana dives deep into the changing landscape of PR, contrasting the comprehensive business solutions offered by consulting firms with the often narrow focus on media visibility seen in traditional PR agencies. We probe into why PR firms need to develop domain expertise and a nuanced understanding of business to truly elevate their role and justify higher retainers. Plus, get an insider's take on the surge of ex-journalists shifting to corporate communications and whether they're well-prepared for this transition.Gain actionable insights from Vandana Chopra, as she shares crucial strategies for excelling in the PR world. Discover why clarity of thought, analytical prowess, and strategic planning are indispensable. Vandana emphasizes the power of data-driven insights and efficient time management, particularly within large consulting firms. Learn how to build a strong, reliable team and why delegating responsibilities is key to thriving in a corporate setting. Vandana's rich experiences offer a masterclass in leveraging domain expertise to sharpen communication strategies and deliver impactful business solutions. Don't miss this enlightening conversation packed with valuable lessons for PR professionals aiming to up their game.Thank you for listening to the PRmoment India podcast. Follow us on Twitter @PRmomentIndia. Write to paarul@prmoment to be featured on the podcast.
Larger PR firms must resist undercutting prices, succession planning key for mid-size firms: Nandita Lakshmanan, Archana Jain and Girish Balachandran
Jun 2 2024
Larger PR firms must resist undercutting prices, succession planning key for mid-size firms: Nandita Lakshmanan, Archana Jain and Girish Balachandran
Discover the intricate world of mid-sized PR firms in India with insights from industry veterans Archana Jain (PR Pundits), Nandita Lakshmana (The Practice), and Girish Balachandran (On Purpose). Learn how these leaders navigate the challenges of market pressures, the importance of differentiation, and the benefits of aligning with international standards. This episode promises valuable lessons on maintaining agility while establishing a unique niche amidst fierce competition.Explore the evolution of PR firms in Bangalore from a technology-centric focus to diverse sector specialization. Hear firsthand from Girish Balachandran about the motivations behind founding purpose-driven firms like On Purpose, which prioritize Diversity, Equity, Inclusion (DEI), and Environmental, Social, and Governance (ESG). Address the challenges posed by the Western backlash against ESG and DEI and gain practical tips on identifying and leveraging brand differentiation.The conversation takes a deeper dive into the complexities of retainer fees, underscoring the necessity of maintaining pricing standards and defining value versus price. We also unpack the significant topic of succession planning, exploring the role of ESOPs in retaining talent and the importance of prepared leadership transitions. This episode wraps up by inspiring young PR founders to dream big, with insights from industry stalwarts that will fuel your passion and ambition in the PR landscape.Thank you for listening to the PRmoment India podcast. Follow us on Twitter @PRmomentIndia. Write to paarul@prmoment to be featured on the podcast.
Navigating Transition at PR Firms: Founder Succession, Agency Growth
May 3 2024
Navigating Transition at PR Firms: Founder Succession, Agency Growth
Discover the resilience and adaptability required for founder-led PR agencies when the original visionaries step back, as we unravel the layoffs of Ketchum Sampark and Ketchum in China. With the expertise of industry veterans Tarunjeet Ratan, Rishi Seth, and Aman Dhall, we delve into the crucial elements that determine whether an agency sinks or swims during transitional phases. They share their wisdom on crafting clear succession plans and the pivotal role of leadership in ensuring the longevity of an agency's legacy.This episode casts a spotlight on the paths that mid-sized agencies can navigate to reach the pinnacle of growth. Our guests dissect the advantages of specialization versus diversification, and how founder-led agencies might outmanoeuvre larger conglomerates with their nimble decision-making and long-term investment approaches. We paint a picture of a future where carving out a unique identity is not just beneficial but essential for survival in a rapidly evolving industry.Our final act takes you behind the scenes of the intricate dance between brands and their PR agencies. We pull back the curtain on the crucial role corporate communications teams play in orchestrating successful collaborations, and the pitfalls that inexperienced players can bring to the table. As we dissect the challenges faced by procurement teams and the heightened need for tangible results, our guests Aman Dhall, Rishi Seth, and Tarunjeet Ratan, provide actionable insights for fostering a relationship that delivers more than just client satisfaction. Thank you for listening to the PRmoment India podcast. Follow us on Twitter @PRmomentIndia. Write to paarul@prmoment to be featured on the podcast.
Exploring India's PR Market Trends in 2024 with PRmoment's Ben Smith and Paarul Chand
Feb 26 2024
Exploring India's PR Market Trends in 2024 with PRmoment's Ben Smith and Paarul Chand
Podcast Summary  PR industry news and mergers in India and globally. 0:03 The opportunities and challenges for PR heads.Merger of BCW and Hill and Knowlton creates one of the world's largest PR firms. Concerns about jobs and creativity. The best mergers tend to happen quickly. In the US both firms were not doing poorly but were not growing.Agency mergers, talent costs, and retainer fees in the PR industry. 5:46WPP is simplifying its business by merging two of its advertising firms in the UK and the US.The merger is part of a wider strategy to streamline the company and make it more competitive.Adfactors PR remains the largest PR firm in India, the remaining top 5 include the newly combined Burson, MSL, Edelman and Avian WE.Demand for talent has increased, leading to wage inflation of 5-8% for network agencies and 10-40% for independent firms.Indian PR market growth and global industry trends. 14:40The trend is towards micro deals and niche acquisitions, with a focus on analytics, AI, and consumer PR.The Indian PR market is growing at 10% (2022 figures per PRCAI), outperforming the wider economy's 7% GDP growth. Current state of the PR industry in Europe and the UK, mentioning a cost of living crisis and economic uncertainty, but also highlighting resilience and adaptability in the face of challenges.PR industry trends in India during an election year. 21:35Indian PR firms may see a boost in revenues due to election yearBrands may spend more on policy advocacy ahead of the budget. Impact of financial year-end on talent management in the workplace.Thank you for listening to the PRmoment India podcast. Follow us on Twitter @PRmomentIndia. Write to paarul@prmoment to be featured on the podcast.
How to scale your independent PR firm: From Madan Bahal, co-founder of Adfactors - India's largest PR agency
Oct 19 2022
How to scale your independent PR firm: From Madan Bahal, co-founder of Adfactors - India's largest PR agency
Welcome to the PRmoment Podcast.On the show today we're talking to Madan Bahal, co-founder of India's largest PR firm. Madan and I are going to talk about how, as an independent firm, Adfactors has grown from being one of a pack of highly regarded PR agencies in India - to becoming the biggest PR firm in India, frankly by a long, long way.It's a story that any independent PR firm founder or CEO should hear because while it's become an inspirational story, it's also a story of hard work and risk but ultimately reward.Many of our listeners of this podcast are from the UK and the US and may be less familiar with the story of Adfactors. For context, it is, by miles, India's biggest PR firm. Adfactors has a fee income of about $50 million. Their nearest rival is less than half of that size and all the big US firms have a presence in India, including Edelman, BCW and Weber.So, to give it a UK equivalent, the largest independent British-owned firm in the UK is Freuds. It would be like Freud's being more than twice the size of Edelman in London.So Adfactors is a quite remarkable story and today its co-founder Madan Bahal is on the show to give his insight to independent PR firm owners everywhere on how to scale their business and take on and win against the group-owned firms.2022 marks 25 years since Adfactors PR was founded.Here is a summary of what Madan and PRmoment founder Ben Smith discussed:3 mins Madan, with 25 years of hindsight, reflects on how Adfactors has progressed and his recent induction into the Page Hall of Fame“History only has so much relevance… I always drive with my eyes on the road ahead.”“The scale of complexity we are seeing makes me feel worried… the scale of disruption and the scale of complexity we are seeing (means) that the world will expect public (deeper) relations counsel… I don’t think public relations firms by and large are evolving quickly enough to be able to deal with the same level of complexity in terms of its counsel” 5.30 mins Madan talks us through how Adfactors went from an $18m firm in 2015 to a $50m+ firm in 2022.“How do you keep investing in remaining relevant over time? How do you invest in your leadership? Adfactors has remained true to the craft and value proposition of public relations … our value proposition is earned influence.”9 mins As the owner of arguable the world's most successful independent PR firm - what is Madan’s advice for his independent agency peers?“Today independence is a strategic advantage - the network firms have lost their flexibility and adaptability. If someone buys a laptop in India the CFO has to do the clearance!”“The important thing is to run your business as if you are never going to sell it!”“Democratise power, responsibility and problem solving to the smallest possible level - so you are eliminated from the burden of carrying it all on your shoulders”12 mins Madan reveals when he was close to selling Adfactors.17.30 mins Madan talks us through his training priorities currently and what is Adfactor’s training budget per head.“The paradigm of influence has changed”21 mins Madan talks about his partnership with his co-founder Rajesh Chaturvedi. They have worked together for 25 years. What makes a successful business partnership?“Professional services sectors tend to grow at twice the rate of GDP”29 mins Madan talks about PR’s overservicing problem and his approach to solving this challenge.31 mins “UnderspenThank you for listening to the PRmoment India podcast. Follow us on Twitter @PRmomentIndia. Write to paarul@prmoment to be featured on the podcast.