The common refrain from many entrepreneurs, small business owners, and inventors is, "I'd love to hire a professional to manage our PR campaign, but we can't afford it, so I'll have to do it myself." This sentiment often stems from a lack of understanding about the cost of public relations and publicity campaigns. However, the reality is that the cost of not investing in a professional PR campaign can be far greater.
Over several months, I conducted an informal survey among entrepreneurs and business owners who had inquired about my services. The results revealed a significant overestimation of the cost of a professional PR campaign. When asked, "How much do you think it will cost to launch a solid, effective PR campaign for your business?" the responses were as follows:
The truth is, you can find PR campaigns at all these price points. The key question is, what do you get for your money, and how effective will the campaign be?
A good strategy is to partner with a PR agency that mirrors your business size. Their rates will likely align with your budget. For instance, a small business owner with two employees doesn't need to hire a high-dollar PR agency with dozens of employees. Instead, find a PR agency whose size and capabilities closely match your business.
For example, there's a large PR agency in a fancy downtown building a few miles from my office. They typically work with large corporations and implement campaigns around $10,000 per month. In contrast, my business caters to smaller businesses and individuals, offering PR campaigns for about $10,000 for an entire year.
It's important to note that signing up with a big firm doesn't guarantee an experienced associate will work on your campaign. Here's a breakdown of billing fees at a major PR firm:
Compare these rates to smaller PR shops or individual PR specialists, who often charge $50 - $100 per hour. You can often find a seasoned PR veteran who will work directly with you and your staff for less than the "Intern/Junior" executive rate at a downtown firm.
When choosing a smaller firm or individual, ensure they have the necessary tools: updated media lists/contacts, personalized media distribution capabilities, professional clipping tracking services, and expert communication/media relations skills. If they lack these tools, you might be better off spending a little extra to ensure your campaign is launched and maintained correctly.
The major benefits of hiring a professional PR agency include:
Remember, a higher-priced campaign doesn't necessarily yield better results, and a cheaper campaign doesn't always mean a good bargain. If you have the time, tools, and talent to launch and maintain your own campaign, you should definitely do so. If not, there are numerous PR firms, specialists, and services available. Research to find the one whose services and fees match your business plan. Once you understand your options for launching a PR campaign, you may find that you can't afford NOT to have one.
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