Four Factors that Affect Public Relations Cost

Public relations services provided by a professional specializing in social media, content marketing, media relations and blogging can help drive new prospects, leads and clients. However, many small business owners and nonprofit agency executives often steer clear of approaching a public relations firm for fear of cost. Don’t let the cost of public relations deter your efforts. Different public relations services may cost different amounts and some agencies offer services designed for small businesses or nonprofit organizations.

How much marketing or public relations firms charge depends on a number of factors including:

• How does the agency bill? Does the public relations firm have an hourly rate or bill per project? Does the firm have different rates for consultants at different levels? Either way of billing is perfectly acceptable, but as a small business owner or nonprofit executive, make sure all of the services you are receiving are written out in detail and the price is approved by you.
• How does the firm breakdown their fees? Are the costs of public relations software and subscriptions to media publications included in the firm’s hourly rate? Does the agency bill separately for media monitoring services and databases? Is the firm dividing the cost of software and publications amongst all clients? Agencies handle the breakdown of fees in many different ways, so ask upfront how your small business, firm or nonprofit agency will be billed for public relations software, publications and other miscellaneous costs.
• Does the agency charge a monthly fee or charge per project? Some agencies require contracts with a specified monthly charge for services, while others work on a per project basis. Some firms offer both options. Generally, while a year-long commitment may seem daunting, clients often get much more from an annual contract than a per project agreement. Because it takes time to build a PR campaign and maintain awareness about your brand or mission, it is best to create a year-long public relations strategy that builds upon prior successes and keeps your organization in the forefront of both the media and customers’ minds. Additionally, the hourly cost of public relations services on a per project basis is sometimes higher than the price per hour when a small business or nonprofit agency commits to a year-long contract.
• How good is the public relations firm? Most likely, you will pay more to work with an established, reputable public relations company. Do your research and ask for recommendations from the firm, ask friends and colleagues what they have heard about the agency and find out the results they have obtained for other clients. Make sure to hire a PR firm that will work with you as a partner, offering the best results for the money you spend.