New Venture launches PR benchmarking database

New Venture Publishing has launched a benchmarking database designed to help PR consultancies win new business during the credit crunch.

The PR and Marketing Benchmark was developed by Policy Publications in association with the University of Luton.

It enables PR consultancies to benchmark their own performance in business-winning activities against the other PR firms in the database.

There are currently 82 companies' results in the database.

A consultancy can benchmark its own performance against 128 factors involved in winning new business.

These factors are grouped into 16 key areas such as the main sources of enquiries from potential clients, factors to bear in mind when considering whether to pitch for a new account, key activities when preparing a pitch and issues to address when completing the final negotiations with a potential client.

The benchmarking database allows a PR firm to compare its performance on all issues against all the firms in the database as well as those firms that are most successful at winning new accounts.

PR and marketing consultancies that benchmark themselves receive a 20-page report divided into five sections.

The first section provides advice on interpreting the figures in the 10 pages of statistical tables.

The second provides a comparison of the consultancy's performance on the 128 factors against all other firms in the database.

The third compares the consultancy's performance against the firms that are most successful at winning new business.

The fourth contains an 'action checklist' that picks out the top 10 factors where the consultancy lags most behind the best-performing consultancies.

The fifth contains some advice on making the best use of the benchmarking report.

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