H- What do you believe are the greatest challenges facing the sector or industry

you would like to specialize in at IE? What role do you hope to play in this sector or

industry in the medium term.

Martín Sierra Wassner

Corporate communications: “Public relations for a corporation integrated as a part of the company’s

objectives.”Chartered Institute of Public Relations

Chartered Institute of Public Relations (CIPR)"Public relations is about reputation, the result of what you do, what you say and what others say about you. Public relations is the discipline which looks after reputation, with the aim of earning understanding and support and influencing opinion and behaviour. It is the planned and sustained effort to establish and maintain goodwill and mutual understanding between an organisation and its publics.”

Public Relations Society of America (PRSA)“Public Relations is a strategic communication process that bui lds mutual ly beneficia l re lat ionships between organisations and their publics.”

Industry in MexicoIncreasing value:

2010 —> $204 million usd* *(1usd=15mxp) 2011 —> $260 million usd* … assuming an average annual growth of 10% 2015 —> $380 million usd*

80% of companies outsource PR services

95% of agencies are small businesses (less than 20 accounts)

*Information obtained from http://www.prorp.org.mx/images/galerias/estudios/reporte%206to%20estudio%20industria%20relaciones%20pblicas%20en%20mxico.pdf

More things to consider in the industry

Except for two Mexican companies ( ), the industry is dominated by foreign firms belonging to large companies. What that means : robust structures , international support , big budgets and approved practices.

More than 100 small businesses are growing and competing , working with leading Mexican and international companies.

OpportunitiesIncreasing business volume.

More Mexican companies are using PR firms.

Mexico is increasingly used as a hub to doing business with North America and the rest of Latin America.

Increase competition and offer more services.

Greatest challenges for the PR industry

Decrease of the influence of traditional media. Too much information available, not all relevant. Adoption and inclusion of new channels of communication. More qualitative understanding of service. Industry consolidation. Society and media are more demanding, critical and active. New technological tools, as well as new measurements for Key Performance Indicators. Speed, interdependence and integration of information.

More challenges… for all industries and sectors in Mexico

Social responsibility and commitment.

Trust in media and government.

Crony capitalism.

Corruption and impunity.

My role in the medium termBring international experience.

Grow small businesses.

Consolidate industry.

Increase services to Mexican companies.

Professionalize and strengthen PR agency.

Generate more jobs and better wages for industry.

“Next to doing the right thing, the most important thing is to let people know you are doing the right thing.”

John D. Rockefeller

Thank you!