Is It Possible for Me to Afford a Public Relations/Publicity Campaign?
Is It Possible for Me to Afford a Public Relations/Publicity Campaign?
Business owners and entrepreneurs who have gotten in touch with me regarding my services have been the subjects of an informal poll that I have been running over the last few months. In my experience, many companies' overestimation or overbudgeting of the expense of a potential public relations or publicity campaign is a result of their ignorance or incomplete research on the subject. I inquired about the estimated expense of launching a strong and successful public relations and publicity campaign for their product or business during our public relations consultation. Based on my survey of 102 individuals:11% - Assumed that the monthly cost of a professional public relations campaign would be $10,000+Believed that a monthly professional public relations campaign would cost $5,000 to $10,000 (32%).39% believed that a monthly professional public relations effort would cost between $3,000 and $5,00012 percent - Estimated a monthly budget of $1,000 to $3,000 for a professional public relations campaign6-Believed that a monthly professional public relations campaign wouldn't cost more than $1,000
The reality is that any of those pricing points may buy you a public relations or publicity campaign. The true issue is the return on investment and the efficacy of the campaign. Yes, it's true that you get what you pay for. However, hiring the most costly public relations firm or expert is not necessary to maximize media or public relations exposure.
The general rule of thumb is that you should partner with a public relations firm whose scale is commensurate with your own. The majority of the time, their pricing will align with the PR budget you have in mind. A public relations firm with hundreds of workers is unnecessary for a tiny company owner with two workers. Investigate public relations firms whose size and scope of services are comparable to your own.
One example is a prominent public relations firm located in a classy downtown building just a short distance from where I work. To be completely honest, we have actually introduced clients to one other and are therefore not really competitors. Why? On a monthly basis, they execute campaigns worth roughly $10,000 for big companies. A public relations (PR) campaign with my firm for a whole year, rather than just a month, would cost around $10,000 as we cater to smaller firms and individuals. From a mechanical standpoint, my company and the downtown firm both conduct thorough media market research, compose professional media releases, and distribute them to the media. We also engage in months of media relations, during which we place articles, schedule interviews, fulfill media requests, clip and track media placements, etc.
Having an experienced associate work on your campaign is no guarantee just because you signed up with the major agency. Are you satisfied with the value you receive? I was given the following billing fee breakdown by a buddy of mine who works at a major public relations firm:Interns and junior executives - $75 per hour (very inexperienced)Earn $100 to $125 per hour as an account executive with 1 to 3 years of relevant work experience.Hourly rates for senior account executives with several years of expertise range from $125 to $200. Appointed leaders of the agency.
See how those prices stack up against those of other independent public relations firms or experts. A lot of people with years of experience in public relations have launched their own firms and will charge you $50 to $100 an hour to launch and manage your campaign effectively. Instead of paying the "Intern/Junior" executive rate at a downtown firm, you can often find a seasoned public relations professional willing to work directly with you and your team for a lower price.
Having said that, if you're going with a smaller firm or individual for your public relations needs, be sure they have all the same tools as the larger agencies. This includes up-to-date media lists and contacts, the ability to distribute media on an individual basis, professional clipping and tracking services to ensure you have copies of all your media placements (articles, tapes from TV/radio shows), and the intangibles like expert communication skills, media relations expertise, and pitching prowess. You should probably shell out a bit more cash to launch and maintain your campaign properly if the cheaper option doesn't have all the resources to assist you in the best way possible.
When you begin your campaign with the help of a professional, whether it's a public relations agency or an individual, you'll reap the following benefits:The Achilles' heel of many public relations initiatives is a badly planned or executed campaign. Media releases that are poorly worded and overly promotional; bulk e-mailing of the release pitch that is not calculated and goes in the wrong direction; failure to follow up with media relations or satisfy media requests; etc. Make a positive impression on the media; it will stick with them.In order to secure better and more numerous media placements for your campaign, it is advisable to work with a public relations agency that has built relationships with different media outlets over the course of many years. To your advantage, let them get a foot in the door.Efficiency and Effectiveness — Public relations experts and firms work around the clock to generate publicity, so they know all the ins and outs, tricks, and secrets to make the task easier and faster. You could save money by doing some of the plumbing or drywall work yourself, but would you have the time, the right equipment, and the necessary expertise? "You do what you do well, and I'll do what I do well, and we'll collectively move this business further up the ladder," is something I tell my clients all the time.
In the world of professional public relations, there is one rule of thumb: just because you sign up for a more expensive campaign doesn't imply you'll get greater results. Equally valid is the converse. There has been a proliferation of "low-cost PR/publicity services" online throughout the last year or two. Those companies advertise a press release writing and distribution service for $99 etc. They are inexpensive because, to be honest, a lot of them aren't really good. Size does not always indicate quality, and price does not always indicate value.
Launching and maintaining your own campaign is something you should definitely do if you have the time, resources, and abilities to do so. In that case, you can choose from a wide variety of public relations and advertising agencies, consultants, and services. Do your homework to identify one whose rates and services are compatible with your company strategy. Many company owners, entrepreneurs, and innovators realize they simply cannot afford to NOT have a public relations campaign once they have learned more about their alternatives.
No way!
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