This is a big question for companies when factoring in budget. Budgets for PR can vary but you typically get what you pay for. You’ll want to know a few things that you want to get out of your budget before going into the conversation of what it will cost. But today, i’ll give you some key indicators of what you’re paying for. What you’re truly paying for when you get into a PR agreement is the time and expertise. The more expertise they have, the more useful and strategic PR pro’s can be with their time.
Any solid starting budget for a quality PR program that will get you regular media attention and results will start around the $4-5K /month. If you’re working with a freelancer you may be able to get into a slightly less budget of somewhere around $3500 but going under that is going to net you less results over a longer period of time.
Where is the time going? Most of our time is spent strategically researching and crafting story angles that we think will land. In addition, at our agency we really focus on the journey of hte audience so, what is the intention of what we want them to do and how do we want them to feel? Are we setting up building blocks for purchase decisions, are we improving reputation or are we supporting investor interest and credibility.
A good PR pro is considering all of this when pitching, selecting media and coming up with ideas to get you in the media. Essentially, you’re paying for the best plan towards your target audience.
What you are looking for as a customer at the end of the day is results. How much is a quality article worth for you? How much traffic will it drive? If you haven’t done PR before, you may not know the answer, but remember that PR agencies typically host a ton of services outside of just media relations. Content creation, marketing strategy, social media support. So depending on what you want and how much time each of those activities take you have to be realistic about what those items are worth to you and budget that way. Some agencies may be able to start you with a project so you can see how you work together before getting locked into a longer agreement. Many of our clients do this when they want to vet us out or if they want to do seasonal projects. If you ever have questions about pricing, I’m happy to dive in and have a discussion if you email us at info@thesilvertelegram.com
Cheers and good luck!
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