Public relations is a very cost-effective way to promote your products and services to your target audience. However, there are some basic costs involved in developing and executing a professional pr plan. Your costs should vary based on your marketing strategies and objectives for the year. Another budget variable is based on your decision to handle the public relations in-house or to outsource your pr efforts. Costs can vary widely among pr firms depending on the number of people working on your account, the seniority level of your account staff, the difficulty of meeting your objectives as well as the geographic location of the firm which will impact its overhead like rent and salaries.
Make sure your marketing budget allows for contingencies so you can afford to address unexpected issues that pop up during the year.
Here’s a list of public relations line items to consider adding to your public relations budget:
- Public relations plan development
- Public relations firm monthly retainer/fees
- Media monitoring fees/costs or clipping service costs
- Media list subscription or list rental fee for media relations and publicity
- Printing/production costs
- Product sample costs
- Trade show pr expenses
- Travel/entertainment expenses
- Association memberships
- Photography (if you need something beyond your catalog photos)
- Special press kit/product launch mailer
- Special event planning and expenses
- Press conference planning and expenses
As with any project, you’ll achieve the most cost-effective results with upfront planning, agreed upon deliverables and measurable objectives.
About Firefly Publicity
Firefly Publicity works closely with writers and editors to place products in media like magazines, newspapers, on-line content, radio and television. Public relations is a cost effective way for companies to maximize their marketing or advertising budget. Firefly Publicity is a results-oriented pr firm located in Red Wing, Minnesota. If you’re interested in gaining exposure for your company’s products, please contact Kim Emery at Firefly Publicity. Visit www.fireflypublicity.com for more information.