Tag Archive for: pr agency

The cost to hire a PR firm should align with the impact you expect your PR firm to have on your business goals. If you’re hiring a PR firm to grow sales, then the expense of your PR firm should reflect the importance of that on your brand. Don’t expect to grow your sales 100% by investing an additional 5% in PR. Indeed, there are ways to track revenue from PR.  For example, if you’re in maintenance mode and need a responsive rather than a proactive PR agency, that cost should be less than a proactive media relations and media placement campaign, which can reach billions of people. How do you know what’s fair and what rate to pay? Consider some of these factors when considering whether a PR firm is right for your business.

There is a huge range of pricing for PR firms. Solopreneur firms, or less experienced PR firms might charge around $4,000 per month, depending on the client and the market. Larger firms, premium agencies, of $18,000 to $25,000 per month, and boutique firms can charge between $12,000to $18,000 per month,  for their services.

Businesses in fast-growing or emerging industries like CleanTech, HealthTech, or Cannabis can also affect PR pricing. Timeline can affect budget – if you’re asking an agency to scramble, it will cost more.

If you are contemplating the cost of hiring a PR firm, chances are you already know the importance of establishing your business’s image. Positive PR can help increase brand recognition, loyalty, and community goodwill. However, you might be wondering, how many does it cost to hire a PR firm?

There are also ways to save on agency fees, so work with your agency to discuss how you can jointly achieve more efficiency.

Why Experience Matters in PR

The number one reason why experience matters is the outcomes for businesses are so important.

Why is PR so expensive research

USC Annenberg Communication Report 2023

 

Understand that while experience is important, it can also be costly. Established PR firms with track records of success tend to charge more for their services. Hiring experienced PR professionals adds innumerable value, but also cost. Most often, a firm’s reputation is established through its employees’ skill and experience level.

Like in any industry, with PR, experience matters. Some agencies have very young teams; others have more executive-level teams. Since almost 60% of PR agency fees are allocated to staff, that’s one reason why PR is so expensive – talent matters. There are pros/cons to each. Many top PR firms will employ former journalists and experienced PR professionals, and for a good reason. Former journalists have a wealth of contacts in the media industry. These people also have contacts at non-profit organizations and with community leaders, among others.

These contacts are precious for pitching stories for their clients. Former journalists also understand what media companies are looking for regarding story ideas. They can craft attention-getting press releases that stand a better chance of being seen and picked up instead of being tossed in the trash heap of yesterday’s news. Former journalists also tend to know the best people to follow up with after issuing a press release or event notice.

The same skills and connections can be true for experienced PR professionals. Those with experience in the industry understand the intricacies of the business. They are masters of communication who know how to get a message across and which avenues offer their clients the best chance at positive exposure in the media. Understanding the nuances of marketing and portraying a positive image are honed skills needed for your business’s PR firm.

 

Why Pay-to-Play PR is So Dangerous

Careers in PR and journalism have a natural connection. It’s why so many former journalists tend to expand their careers into the PR realm. However, businesses need to be on the lookout for a potentially dangerous practice called pay-to-play. Pay-to-play is a phrase that refers to professionals making undisclosed or under-the-table payments to journalists or media companies in exchange for publishing a client’s story.

This behavior is considered unethical. Local media outlets should be viewed as a public service. A newsroom assesses the merit of stories and gauges how interested their audience will be in the information that they provide. Paying for coverage is both unethical and potentially deprives an audience of newsworthy content.

It is also dangerous because media outlets have a duty to report to their audience when a spot or story includes paid content. Paid content includes commercials and ads. A potential consumer knows that the information provided has been paid for by an advertiser when they view a commercial. Pay-for-play is essentially duping an audience into thinking that the content is unbiased. However, if a PR firm purchases airtime under the table, it misrepresents the impartiality of the content.

That’s not to say there isn’t a place for sponsored content and paid placement. It’s just important to understand the difference and integrate them into your plan accordingly.

Setting Goals and Expectations with Your PR Firm

Do your homework ahead of time before committing to a PR agency. Sit down with your team and outline your goals and expectations. What are you hoping to gain out of your relationship with a PR firm? How much of your budget are you willing to dedicate monthly to a PR firm? You need to be honest when answering these questions and establishing your objectives. When you have your goals firmly set, schedule meetings with a variety of PR agencies.

When consulting with a PR firm, consider asking these questions to assess whether the firm will be a good fit:

  • Do they have experience in your particular industry?
  • What is their communication style?
  • How do they measure success?
  • How will they go about generating leads and coverage?
  • Do they know how to manage crisis situations?
  • How will they help you reach your goals?

Don’t be afraid to also ask questions about their fee structure. Budget is a big factor in deciding whether to hire an agency or keep your PR work in-house. A PR firm should be transparent when discussing what they charge and how their fee structure works. You may also want to ask how long it takes their team to craft a press release or set up for an event. Understanding how many hours a typical project can take may help you evaluate whether a PR agency is cost-effective for your business.

To help foster a successful relationship with a PR firm, you need to communicate your goals upfront and set your expectations early. Doing so means that you and the firm start on the same page and can track results throughout the relationship. Meeting with a company before you hire them allows you to gauge how comfortable you are with the firm and how they will manage the reputation of your business.

At the end of the day, hiring a PR firm is an investment, but only if you find an agency whose goals align with yours. When deciding if a firm’s prices coincide with your company’s budget and needs, consider your goals, specific industry challenges, and the expertise of a firm’s staff. Do not be afraid to ask tough questions because the reputation of your business may depend on how your PR agency responds. The right PR agency can be an excellent investment in your business.

Do you find yourself asking “What will I get for my money if I hire a PR agency?” You might even see offers for guaranteed media coverage. But should PR agencies guarantee media coverage? The reasons the answer is “no” might surprise you. Any PR agency that promises earned media coverage is putting their journalist contacts at risk for journalistic ethics violations. Guaranteed PR coverage is not only unethical, it can even be illegal. “Guaranteed” PR coverage rarely lives as long as earned media coverage. Finally, it doesn’t have the authority and trust that comes with credible earned media.

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Pay-to-Play Earned Media is Unethical

Sadly, we’ve seen it all, including journalists fired for violating professional journalist ethics. Violations might include not disclosing a monetary relationship or other conflict or interest. Paying a journalist under the table to write about a company or a product is the signal of an inexperienced, desperate, or unethical PR agency. These agencies don’t garner favor by journalists who value their jobs, and getting a journalist fired isn’t the way to reinforce media relationships. And when you hire a PR agency that does this, you’re attaching your brand’s reputation to unethical and even illegal behavior. No matter how cheap guaranteed PR coverage is, the cost to your reputation will far outweigh any benefits.

There is such a thing as legitimate sponsored coverage. And while sponsored coverage LOOKS like an article, it’s actually an advertisement. Secured through a media outlet’s advertising team, never directly with a journalist, sponsored coverage is a legitimate form of advertising. The FCC always requires sponsored coverage to identify itself as paid. Even Google wants to know what links are sponsored, and not tagging them correctly is an SEO risk authoritative and important media outlets won’t risk. Press releases are a great example of paid or sponsored coverage. Paid placements have a role in a campaign, and any good PR agency can make recommendations about how to use these tools in your campaign.

Guaranteed Coverage Isn’t Usually Authoritative

Fast-growing brands and hyper-growth companies need PR primarily for exposure and trust that typically comes from earned media.

Today’s readers and content consumers are incredibly savvy. After thousands of hours of advertising exposure, most consumers can sniff out the difference between advertising articles and journalistic pieces. Like all advertisements, ethically secured readers’ and viewers’ trust earned coverage because journalists maintain independence.

We’ve seen self-proclaimed PR experts use their positions as media contributors to promote their clients; these same people are banned from esteemed outlets like Entrepreneur and Forbes.  Most times, the brands paying for this coverage did not know that what the “PR expert” was doing was unethical or illegal. No one wins in this situation, certainly not the brand that thought they paid a PR firm to secure high-value coverage. This is especially painful because once discovered by the media outlet, that content is often removed from their website and, therefore the internet; this rarely happens with earned media coverage which lasts as long as the website is up.

Sponsored or Paid Coverage Doesn’t Last as Long

While earned media takes strategy, expertise, and, yes, time, ethical sponsored or paid coverage doesn’t last as long as earned coverage. Sponsored and paid coverage, while it has its place, is like any other advertisement: it typically runs for a limited amount of time, and then it disappears. One of the underappreciated perks of earned media is its longevity.

There’s nothing wrong with sponsored or paid coverage. We’ve seen some really remarkable pieces of sponsored coverage that went beyond the advertisement and well into providing true value for readers. The Washington Post, the New York Times, all do spectacular special projects like this. The starting cost is usually in the $50,000+ range. Regular ad rates for a premium location like the (printed) back page hover around $30,000 per ad, volume discounts usually apply to annual contracts. But hey, you’re getting ad placement in one of the world’s most credible news outlets at least once for that price.

 

The Case for Sponsored or Paid Coverage

Many emerging industries or pre-IPO companies want exposure and they want social proof. The weird thing about exposure is the more you get, the more exposure you’ll get. This is where sponsored coverage comes into play – and it’s essential to understand its role. What you DO with sponsored coverage and how you create the content for sponsored coverage makes all the difference. Working with a modern PR agency can help you distinguish yourself in sponsored or branded coverage and also help you make the most of it. There’s a place for this kind of media in the ecosystem today; it’s important to use it wisely.

 

Today’s modern PR firms are savvy in today’s media landscape, including traditional, paid, and digital mediums. We take our professional PR ethics very seriously, including guaranteed media coverage. Hire a PR firm you can trust and trust your PR firm.

You don’t need to be an influencer or celebrity to make public relations work for you. Having a good PR team on your side can help a business increase its visibility, brand recognition, and bolster its reputation in the community. These things can eventually translate into more customers and a bigger slice of the proverbial pie.

However, hiring a PR team isn’t free. A PR agency is an investment. Before deciding if hiring a PR firm is the right move for you, consider what makes a PR team an asset. Then ask yourself if a PR team is worth it for your business. Having a clear vision of your short- and long-term objectives and goals will help you understand the desired direction of your business. When looking towards the future, you may be surprised at how much value the right agency can add to your image and your bottom line.

What is PR?

Public relations agencies are businesses that specialize in helping their clients craft and distribute information about their business or industry. However, this information is not distributed in the form of paid ads or commercials. It is essentially “free” media that doesn’t cost a company anything to circulate. Free media can include local news stories, national news stories, newspaper articles, or magazine articles. Stories can also be distributed via the Internet or certain social media outlets. This type of media allows customers to see information or stories about a business without the filter of product sales.

The goal of PR is to put the right message in front of the right people. By generating favorable media coverage, a PR firm can help a client cement their image in the minds of potential customers. A good PR strategy can build brand recognition and customer loyalty, adding value to a client’s business.

Why is PR Worth It?

Numerous factors can make PR worth the price of a good agency. However, what makes a PR firm is worth its weight depends on the client’s needs, goals, and overall objectives. You get from PR what you help put in. Outlining your values ahead of time and communicating your needs with a PR firm helps them understand what you want to get out of the relationship. From there, a PR team can craft a unique strategy that can help you reach your objectives and allow them to target the audience you hope to capture.

An important way that PR can help bolster a client’s business is through brand recognition and credibility. PR professionals understand which media outlets can help build credibility while simultaneously increasing their visibility in the community. A solid PR firm will then be able to pitch story ideas and distribute press releases to the outlets that may help give their client the clout they need.

For good or bad, a strong public relations team can use the power of words to change the hearts and minds of people. Placement of positive stories and positive messages about a client can help build trust and loyalty. When something traumatic or negative happens, a strategic PR firm may also attempt to mitigate potential damage to a brand or turn the incident into a humanizing moment. Crisis management is just as important to a brand as positive story placement. A solid PR firm should have experience with both skills.

Skilled Professionals Who Know the Business

Many businesses handle PR internally. This strategy may work for certain industries. However, if you are considering what makes a PR firm worth hiring, consider the skilled professionals they hire to fill their firms. Many current public relations specialists are former journalists. This is important to note because former journalists have inside information about the business. They tend to have a wealth of contacts in the media industry and know how to get a media outlet’s attention. From drafting compelling press releases that don’t end up in the trash bin, to reaching out to community contacts, they know how to leverage their contacts for the client’s benefit.

News stories come from a variety of different sources. Because of the saturation of information, it’s not enough to simply email a press release or event notice to someone these days. It takes carefully crafted communication, outreach, and tenacity to pitch stories and get them placed in the right outlets at the right times. Good PR professionals are transparent, proactive, and passionate about what they do. They want your continued business and will go the extra mile to make sure that you see the value they add to your business.

How Else Can PR Benefit a Business?

Contrary to popular belief, PR is more than just submitting press releases and sending out event invites. At its core, public relations is about good storytelling. It is about crafting compelling and engaging messages that linger with an audience and spur them into action. A skilled PR firm should have experience handling different tasks as well as monitoring and responding to new and emerging trends within a client’s specific industry. Generally, a solid public relations firm will understand how to handle the following:

  • Crafting press releases
  • Following up with media outlets
  • Writing pitches
  • Speech writing
  • Copywriting
  • Blog writing
  • Event planning
  • Strategic crisis management
  • Market research
  • Community engagement

With these elements in play, a PR firm can contribute to the success of a business by:

  • Increasing credibility
  • Increasing brand recognition
  • Enhancing a business’s public presence
  • Enhancing a business’s online presence
  • Generating positive word of mouth
  • Handling crisis situations
  • Building community and customer relationships

What do these contributions all translate into? For many businesses, they translate into increased growth and sales. New customers are drawn to the business while existing customers develop brand loyalty and keep coming back as repeat customers.

If you are looking to grow your business or remain competitive in a thriving marketplace, you may want to consider the benefits of hiring a PR agency. Spending money on a firm today may add tremendous value to your company tomorrow.

If the legalization of marijuana in a growing number of states has taught us anything, there will likely be an emerging market for other products like psychedelics, as interest grows in their recreational and medicinal benefits. The stigma around using psychedelics, while still present, is starting to shift. The potentially beneficial and pharmaceutical uses for magic mushrooms and other substances are increasingly evident, and the market will likely follow.

Some estimates indicate that the market for psychedelic drugs could grow into a $6.9 billion industry by the year 2027. As psychedelics continue to gain mainstream acceptance, psychedelic companies are still in their marketing and PR infancy. Getting in on the ground floor means investing in a PR campaign today that could solidify your status as a psychedelic authority and leader in the industry in the future as it grows.

The psychedelic industry is a sophisticated enterprise that still suffers from stereotypes and misinformation. It’s much more than mushrooms, black lights, and velvet posters. A strategic PR campaign can help transform this image. It can also lend credibility to what should be considered the next big untapped drug market brimming with potential. As companies continue to grow and gain access to more capital, the opportunity for an IPO, or initial public offering, emerges. A strategic PR campaign can help push these companies into the big leagues.

Why Do Psychedelic Companies Need to Think About PR Now?

The legalization of marijuana has spurred new ways of thinking about old drugs. Psychedelics are getting a fresh look from both the public and private sectors. Researchers are uncovering promising data about the potential for these drugs to treat mental disorders such as depression, PTSD, and anxiety. With greater mainstream acceptance comes more pressure on government entities to decriminalize psychedelics and cannabis, both on state and federal levels.

The best time for psychedelic companies to capitalize on changing consumer sentiment is right now. Much of the emerging psychedelic industry is still in its infancy. When a substance is still considered illegal in much of the country, a stigma will obviously exist. The status of mushrooms and some psychedelics as Schedule 1 drugs also create major hurdles for companies when it comes to marketing. Changing the tide of both patient and political bias needs to happen now.

A strategic PR campaign can aid psychedelic companies in normalizing the conversation about psychedelics and help establish them as respected industry leaders. Changing the narrative on psychedelics doesn’t happen overnight. It takes a concerted effort to get the attention of policymakers and patients alike. PR professionals are uniquely positioned to help psychedelic companies leverage media coverage for a positive effect.

What is PR?

PR professionals specialize in helping companies get free media placement. Free media is media that does not require the company to pay for its distribution. Examples of this type of media include local news outlets, national news outlets, magazines, newspapers, and websites.

PR agencies tend to employ former journalists who have extensive contacts in the media industry. These professionals also know what it takes to pitch a story and what outlets are looking for in the source material.

What Can PR Do for Companies in the Psychedelic Industry?

The possibilities are almost limitless when it comes to what PR can do for the psychedelic industry. PR is a valuable tool in helping change the narrative about psychedelics. A PR agency can help a business craft a compelling and strategic messaged aimed at consumers or policymakers. The firm can then take that message to media sources for potential coverage. These outlets can distribute the story and help boost a company’s brand recognition within the psychedelic industry. Since this media coverage is not paid for, like commercials and ads, it also helps increase a company’s credibility.

Media coverage can also help shape future policies. It is essential to steer the conversation about psychedelics away from the negative and stigmatic image of drugs and towards more beneficial and informative coverage. Experienced PR agencies are experts at communicating. They understand crisis management and how to take potentially negative information and transform it into teaching moments. Although the conversation about marijuana and psychedelics is evolving, there is still work to be done when it comes to helping the industry shed problematic stereotypes.

It is also crucial to note that while change may seem slow to come, the needle is moving in a more accepting direction. It is easier to establish yourself as a reputable psychedelic company now and get in on the ground floor than it is to claw your way to the top of a crowded marketplace. Getting involved with a PR firm early gives you a head start when it comes to brand recognition, building credibility in the industry, and developing a loyal following and potential customer base. Your company can emerge as an industry leader just as other companies are attempting to jump on the bandwagon. Investing in PR today is investing in the future reputation of your business.

If these factors aren’t enough, consider what else a reputable PR firm can do for you:

  • Craft a brand story
  • Help establish you as a psychedelic industry leader
  • Generate visibility and brand recognition
  • Pitch stories that can help influence the public and policymakers
  • Help change the narrative surrounding psychedelic drugs
  • Target your key audience
  • Build brand loyalty
  • Build community relationships

Good public relations teams don’t sit back and wait for you to have news. They help strategize ways to make news. PR should not be passive. PR should be proactive in any market and help companies make their mark and shape the industry. A company’s needs for positive PR in the psychedelic industry are no different.

Whether you are a public or private psychedelic company, now is the time to start thinking about your image. With the help of an experienced PR team, you have the power to build your brand and mold the future of the psychedelic industry. The psychedelic business could quickly become the next big industry to experience hyper-growth. Getting started with PR early means you will have a strategic advantage over the competitors that wait to enter the market.

The Communication Strategy Everyone Will Thank You For.

We’re inundated with messages every day. As communicators, it’s up to us to have  some empathy for our audience, whether that audience is the press, an employee, a customer, or an investor.

Yet, this single communications strategy I’m about to share with you is so simple, so basic, you’ll wonder why you’re not doing it already.

Before we go any further, let me ask you, which would you rather be:

A product or a movement
A cause or a movement?
An idea or a movement?

If you don’t care, I’ll save you-you can stop reading right now.
If you want to be a movement, it’s time to re-frame your thinking.
If you’re going to have a movement that matters, you’re going to need people to get on your side.
PEOPLE.
Not Twitter accounts, not Instagram followers, not Facebook likes.
These are vanity metrics that provide little insight into the passion and interest people have in your brand, product, or personality.

Are You Really Ready?

If you’re ready, you’ll re-frame your thinking.
If you re-frame your thinking, it will change everything.

So get ready…
The world is crowded now with communicators, marketers, messengers, and “me, me, me.”
Some days it’s soul-sucking.
It’s why everyone who uses social networking says brands ruin everything.
And yet…people WANT to receive messages, they just want messages tailored to them.
One of the reasons digital marketing is so powerful is that it creates a give and take in the relationship.
It provides an opportunity for the customer, the reader to think about their favorite subject for a moment: them.
But here’s the rub:
It takes strategy, focus and creativity to create content that your consumer wants to see.

So, please.
As you review your communication goals and communication strategy, stop for one moment and think about the reader, whether they’re a customer, a client, an investor, or an internal employee.
Make it about them.
That single phrase is the one thing so many brand communicators ignore.
Why? Because it takes serious work to “Make it about them.”
It means getting serious about audience identification.
It means getting serious about your brand, it’s voice and how it relates to the audience.
It means diving in on messaging and strategic choices in advertising.
It means actually creating a relationship and even (GASP) an in-person relationship with your customer or client.
It means, communication and branding for the long haul,  not some flash-in-the-pan-make-it-go-viral-I-need-some-vanity-numbers-now kind of campaign.

And while we’re thinking about it, let’s consider language and what it says about our strategy.
If you’re saying you’ll “use influencers,” do you think you’re thinking about it from the “All About Them” standpoint?
If you’re talking about how you’ll “promote”  your message, event, or idea, does that sound like you’re getting ready to make it interesting to others?
If you’re talking to a PR agency, a strategist or a social media consultant who is using words like “promote” and “use” you really must ask yourself if you’ll have an opportunity for a customer relationship.

I still see and hear this language every day on Twitter, Facebook, Instagram, everywhere.
It’s gotten to where my eyes glaze over.
Guess what?  So does everyone else’s.

Let’s step it up, together.
We can do this.
We can make what you have to say interesting and relevant to the right people at the right time.

Now What?

Here’s my communication strategy challenge to you.
Go check your last 10 social posts.
See how many times you used the words “we, us, or I.”

How much of your content was about the consumer?
How much of your content was strategically shared to reinforce or create relationships?
Is there anything there that would make someone curious?
Is there anything at ALL that makes people feel ANYTHING?

How do YOU make people feel?
If you make them feel ANYTHING you’re miles ahead.
If you make them feel stronger, smarter, special, you’re really hitting on something.
If you made them terrified, scared, outraged, you’re really hitting on something.

People rarely forget how you made them feel.
But YOU’RE utterly forgettable when you make them feel nothing.
Digital branding and marketing is a long game, with peaks at appropriate times.
But always it surrounds emotion.

Regardless of the movement you’re trying to start, start with the idea that “you” are not necessarily interesting.
What’s interesting to people is what they do with “you.”
How you make them laugh or think.
How you make their lives easier, better, or richer.

Here’s another reason to re-frame your thinking: it takes discipline and thought to create content that makes people pause.
That’s why so few marketers do it.
So while everyone else is “zigging” go ahead and “zag.” and watch how it changes the way people respond to your brand or product.

That is all.