How much does Bridal PR really cost? The cost of public relations
When it comes to public relations, it can sometime seem a bit unclear what the final costs are, and what exactly those costs cover. We’re breaking down the costs associated with servicing a brand with public relations services. While it’s impossible to breakdown all the nuances of PR in one blog post, here’s a few basic ideas that can help clients understand what agencies need from them, and what they get in return.
First, let’s break down a few definitions:
Public Relations - the professional maintenance of a favorable public image
Retainer fees - the cost associated with securing services from a PR agency
Offerings - specific services a PR agency offers their clientele
Subscription costs - costs associated with scheduling platforms, newswire distribution, etc. not included in retainer fees. Note: Larger agencies may not charge or break down these costs separate from retainer costs since their retainer fees are much higher than a boutique PR agency like Perry Rose Media.
Publication - a print or digital media entity with whom editorials and features are placed or purchased
Now, let’s go over a few industry standards:
Publicists get paid for their work, not results
Results are not guaranteed
Retainer fees are paid in advance of work
The cost to retain boutique-size to large agencies
The cost of a boutique-size PR firm (1-5 person teams) can range from $5K to $10k per month or $60K to $120K per year. Larger firms can range from $20K to $40K per month (and up) or $240K to $480K per year. A variety of factors impact these fees including location, availability, office space, employee benefits, travel requirements, etc. It’s best to speak to a PR agency directly to get a better understanding of their costs and company culture. We highly recommend reviewing their social media and website in advance, too.
At Perry Rose Media, we specialize in Bridal PR. Our offerings vary with each client - some need a lot of help with social media, others want to just have their publicity and press management outsourced. For that reason, we don’t list flat rate fees on our website, but we’re happy to discuss your needs and show you what a healthy budget would look like, and what Team PRM will do with it.
What does the client get for the cost of PR?
Subscriptions to newswires, contact databases and other platforms to execute PR services can range from $500 to $2500 (and up) annually. A comprehensive understanding of brand growth, consumer trends, product launches, events, and more helps us understand not just want you want, but what you need, to accomplish these goals. In addition to pitching, communications and copywriting, PR agents spend a great deal of time consulting with their clients. When you retain a PR agency, you’re securing their time to be spent with you.
Every agency has their secret sauce and way of running their processes, but at Perry Rose Media, we’re all about collaboration, community, and exceeding expectations. Our clients experience an on-going benefit from our services, which we detailed in a recent blog feature.
Who actually needs PR?
What many people don’t realize, is PR often starts in-house for brands. Managing social media, writing newsletters, hosting events and even hand-writing notes for deliveries are all forms of PR. Brands who are looking to take their presence in the media to the next level are ideal candidates for PR services. Companies with line and product launches are also in need of PR to help build a genuine community and share their brand message. Brands who want to establish more impactful, cumulative opportunities for publicity are also in excellent position to hire a PR agency.
The most important thing above all is to approach a PR agency with a sense of budget. If your business has low profits and celebrity-level dreams, you’ll find it virtually impossible to retain an agency. One alternative to consider would be freelance PR, but it will be up to the brand to vet someone who will provide real, measurable ROI.
How to know an agency is worth it
If you feel connected to an agency’s aesthetic and vision, but their results and original content are limited, be realistic. Will you see results or are you having shiny object syndrome? No agency can define what a brand sees as valuable for them, so it’s best to be frank regarding expectations. If an agency can deliver upon those, or better, above what was hoped for, then it’s obviously worth it. But again, PR agents don’t get paid for results, they get paid for the work. Pro tip: check an agency’s earned press page, highlights on Instagram to get a feel for the work they’re doing.
There you have it. A basic understanding to the costs and services included in PR retainers. Is there anything you’re still unsure about? Drop a comment and we’ll get back to you!
Are you ready to hire a PR agency? Our team is currently booking new clients for 2020.