PR Fee Structures
If you’ve been considering working with a PR consultant or freelancer, chances are the cost is one of the foremost thoughts in your mind.
Agencies have to cover their overheads and running expenses and therefore impute a higher profit margin on offers. Of course, freelancers have running expenses too, but they are lower. In addition, many projects are catered for by several hierarchical levels in companies, such as working with an intern, Account Coordinator and Executive on a project, which leads to an increased need for agreement and additional charges. A freelancer works on a project from start to finish and therefore costs that would arise from multi-team co-ordination efforts do not arise.
PR consultants or freelancers will charge different fees based on a range of variables, but there are a handful of fee structures that you can expect to choose from. Here are the most common, to help you find the right plan for your needs.
Retainers
You’ll notice that most PR agencies will charge a retainer before they begin working on your account. A retainer is a fixed fee that is charged monthly or quarterly, and usually carried a minimum contractual obligation. Retainers are generally paid in advance, so the PR agency can help ensure the highest level of service and can easily calculate how many hours should be devoted to each client.
For freelancers, a monthly retainer is a great service option for businesses who are in need of public relations services for ongoing projects, launches, campaigns, events, and consistent media opportunities to maximize client visibility. This builds the strongest rapport, allowing freelancers to truly understand your business and to develop relationships with the right journalists, bloggers and influencers.
Hourly
Charging clients an hourly rate is another common fee structure for consultants. With this method, a consultant will keep a running tab for all work completed over the month at an agreed upon hourly rate, then bill the client when the month is over. For agencies, different activities will have different hourly rates, depending on the nature and difficulty of the job.
Project-Based
Some freelancers may charge based on one project if there is a special event coming up, or the launch of a new product or concept. This type of project has a set time limit with clear goals and objectives, so it is easier to agree on a number that works for the freelancer and the client.
A La Carte Fees
Some PR freelancers provide a la carte fees for “one-off” services such as writing press releases, managing social media campaigns, blog writing or producing videos. This type of pricing makes it convenient and flexible for clients when they are shopping for services, but retainers are more effective if you want complete PR service.
Budget For Expenses
Regardless of the type of pricing structure your PR firm uses, there will likely be some degree of budget for expenses that are incurred during the completion of the service. Things like entertaining, market research; design and production expenses may also be added to the standard fee.
We recognize how tough it can be financially to launch your project or commit to a 12-month public relations and marketing retainer, so we offer a number of options that will allow you to partner with us dependent on your budget, timeline, and needs.
Easy Consulting Studio can be as flexible as you are. We can always create a custom program, based on any pricing structure you’d like to incorporate with clearly defined scope and performance metrics. Contact hi@easyconsultingstudio.com to discuss your options!