GolinHarris, another reputable agency, earned $175,000,000 in 2012, with a staff size of 735. By using a very simplistic calculation, they seem to achieve the same earning with almost half the staff. Other agencies declare they have retainer fees ranging from $5,000 to $50,000 per month. In other words, they have to be conscious of where funds are allocated at all times and if anything needs to change to meet the set budget. Whether it's a video marketing strategy or a social media influencer marketing campaign, your PR team can connect you with the right people and media outlets, so you grow your company. They’re robustly useful in times of crisis and times of calm. Even if you only give them 5 hours worth of projects in a week, they’ll charge you for a minimum of 15 hours of work, so it’s better to give them that much work at a time. In any case, payment-by-results can range from a couple of hundred dollars to $1000 or more depending on the reach and reputation of the media that covers the story. LOL. Is that something you can justify? Everything from the site research to the pitch writing to the follow-up combined can make basically a full time job. They usually occur around launches, events and campaigns. (And to be clear, it's not going to take $350, either). As you’ve no doubt realized from reading this blog for a while, guest posting is a lot of work. One of the most important jobs for a PR representative of a celebrity is handling a crisis. Creating content for blogs, websites, and other public-facing content streams. A lot of modern companies will also charge based on their results. In reality, a PR firm covers crises as one small part of what they do. Like this post? Between those sources and a few others, we can conclude that an average PR agency is going to charge a minimum of around $1,200 per month as a retainer, plus an hourly or performance based rate that comes out to another $500 to $5,000 per month. Such retainers can range from $2,000 to $20,000 per month, depending on the size of the agency and the range of their services. Boutique PR agencies are the ones that charge the lowest retainers, usually ranging between $2000 and $5000 in the United States. It ensures clients of a certain level of services during the contractual time and the basis of calculating the time to put into a client’s PR is a simple calculation: hourly-rates multiplied with estimated time taken to deliver the agreed services. Livestorm is the all-in-one video communication platform for companies looking to implement a powerful video communication strategy. Most PR agencies prefer to charge retainers, which are basically a fixed monthly or quarterly fee charged for a contractual commitment of minimum 6 months. Credit where credit is due! The core team of the agency comes with an extensive knowledge and experience of the Indian media ecosystem and the PR industry. The payments might need to be in advance, or there is a mutually agreed payment calendar in installments. In a way, it’s preventative maintenance. Since price ranges can be all over the place, let’s look at various sources of data and see what comes up. Alternatively, with lower levels of service, 20-hour weeks might be more of a norm. Stuff like media entertaining (brushing the relations with the media over a lunch or so) might also appear on the list. For small businesses, new businesses, and startups, I don’t think a PR firm is the right choice. Temper your expectations. Retainer fees for startups tend to range between $5000 and $10000. Hire the team that wrote it! Hi Christine, like we indicated, the research came from Bulldogreporter and was performed by Rick Gould. Customers on free and standard plans have access to 100 and 500 global and multi-project rules per month, respectively. It allows both PR agencies and in-house PR pros to save their time on media relations with a cloud-based database with adequate filters and mailing possibilities. First, you know how small the rewards for individual press releases or guest posts tend to be. With the help of their media contacts, public relations firms can secure placements on various feeds, negotiate terms, set goals and track results, leaving your internal team free to focus on other important business growth goals. Between those sources and a few others, we can conclude that an average PR agency is going to charge a minimum of around $1,200 per month as a retainer, plus an hourly or performance based rate that comes out to another $500 to $5,000 per month. Organizing individual events for the purposes of managing a public reputation. The opportunity to get amongst a group of passionate and talented people that are all about creating innovative solutions- in a competitive market with a company who are disrupting it! Advantages of Public Relations. PR agencies can do a lot, though there’s also a lot of confusion about what they do. One of the biggest misconceptions about promoting yourself or your brand is that more equals better. For larger and more established brands, particularly those with variable or negative reputations, hiring a PR agency to do damage control and recovery is probably a good idea. Our Music PR agency has been at the forefront of the industry for over 20 years. Or, rather, not cut, but handle yourself. These can include video production, infographic design, market research etc. In addition to writing different types of copy, copywriters are also responsible for maintaining a consistent brand voice and identity across multiple channels at the same time. On the other hand, maybe you would prefer to outsource your PR and handle your advertising in-house. Publicists range from $2,000 to $10,000 (and beyond) per month, with the average in NYC hovering around $7,000 per month. Mark Cuban doesn’t think a startup needs one. I was curious if your estimate of average retainers came from a certain source, or your own assessment? TechCrunch wrote an article describing their issue with the pay-by-result fee model. Most of times is paid in advance. Mark Cuban doesn’t think a startup needs one. Thank you so much! Both public relations and advertising are important enough that they need to be done, so you need to figure out which one you can do yourself. Everything should be transparent, from the hourly fee of the juniors and seniors up to the service charge. Questions for us? This can include everything from press releases to blog posts and is usually done in accordance with a public relations strategy created by the PR team. You don’t need a high paid marketing executive to write a pitch to a local newspaper; all you need is their contact information and ten minutes of your time. Essentially, a PR firm outsources guest posting and other forms of “earned” coverage. Clearly, the budget retailer's public relations team deserves a raise. Different members of the staff have different hourly rates depending on seniority. Music PR That Elevates Your Presence . Give it a try to increase your efficiency!