Writing and sending media releases, organizing media events, creating reports. These are the biggest time wasters in PR. So it's no wonder that companies like to hire agencies to take the pressure off. In this blog post, we reveal what a PR agency costs - and when it pays off.
Sure, it sounds great: Outsourcing media workbut have more time for other tasks. Have videos produced by an agency and benefit from a partner network of professionals. Strategic advice and a critical outside view of processes for development or to impress the boss - but at what cost?
Agencies are secretive when it comes to their cost structure. No wonder: from retainers, flat rates and daily rates to different hourly rates, there are all kinds of pricing in the agency landscape. That's why we have summarized the most important facts - so that you know exactly what you can expect for your money.
From A for offer...
As differently as they charge, all agencies actually have something in common: they always start with a cost estimate. In other words: The interested customer expresses their wishes and goals and the agency creates an offer based on this. Sounds simple? But that's where the problems usually start - on both sides. How exactly do you calculate the customer's wish for "a bit of social media"? This is precisely why we have learned to ask the customer very precisely what they want and what their expectations are during the initial meeting. That way, "a bit of social media" can be interpreted correctly: Namely as a two-month campaign and not daily community management.
Now that this has been clarified, the agency is responsible. Price lists provide little or no guidance here. The quote must reflect pretty much everything the client expects in terms of performance in order to achieve their goals. And what needs to be explained should also be able to be explained. Are you receiving a flat rate? Don't hesitate to ask what's behind it. A good agency will be able to tell you immediately how much time it is based on. We work with calculation sheets, for example, and break down each service into individual tasks to calculate the total time required for the project. This has several advantages: If the customer wants to cut services, we can see at a glance where there are opportunities for cuts and where there are not. The customer can then decide what they want to cut. Another plus: if all the tasks for the entire project are already defined, the actual project planning is all the quicker.
... to Z for cooperation
What you should not forget is that an agency is primarily there to relieve you - and should be an asset to the client. After all, you pay PR professionals primarily for their expertise and creativity as well as for their network of contacts. An agency is like an external team member who doesn't need to be trained and knows exactly what you need. However, as with any type of collaboration, openness and transparency are not only desired but necessary on both sides. That's why you should pay attention to three things when choosing your agency: Sympathy, passion and individuality.
If you receive an automated e-mail message with a form or a standardized offer full of all-inclusive services after contacting us, you have the pricing, but not yet a partner. But does the phone ring after your e-mail? Very good! Have the confidence to take up the offer for a non-binding initial consultation before you request a quote. Give the agency the chance to introduce themselves personally, to understand your situation and to ask questions. You'll soon find out whether you can imagine working with the agency or whether it just didn't click. At FBC, we want to turn our customers into "raving fans" and go the extra mile to achieve this.
Should uncertainties or misunderstandings nevertheless arise - before or after an order is placed - we proactively seek a discussion and respond to you individually. If a change in strategy is necessary during a project or if the hoped-for success does not materialize, we do not stick rigidly to the offer, but adapt the services flexibly.
Individual campaigns or monthly mandates?
This seems to be the crucial question for many people. But the answer is not that difficult: it varies from case to case. We sometimes recommend a temporary campaign to our clients and sometimes a retainer - depending on the objective they are pursuing. Do you want to accompany a product launch or start a first trial with the agency? Then a campaign makes sense. Of course, a one-off package for CHF 4,000 seems more tempting at first glance than a monthly recurring fixed amount of CHF 3,000. But unfortunately, you can never guarantee coverage or website visits with a quick shot - and it may not even achieve your goals.
So if you want to steadily increase your presence in the media, it is also worth investing in customized, long-term PR work work. An agency can break down your goals into the necessary services and set a monthly retainer based on this. This does not mean that you have to have a media release sent out every month. The agency manages your budget and is responsible for continuously creating content, topics and stories with a common thread that interest the media and that you can use for all your channels.
Third party costs: The black hole
Traditional PR and communications agencies are increasingly developing into 360-degree service providers: smaller agencies in particular like to work with external partners such as filmmakers, photographers or SEO specialists in order to be able to offer their customers an all-round service. Are you now rolling your eyes and thinking "that costs money again!"? That's true. But remember that the agency's long-standing partnerships with its freelancers often also help you get special conditions. In addition, there is the know-how of professionals, some of whom also work for other major brands. Incidentally, our agency fights for complete cost transparency and offers and charges third-party services directly to the customer. This means you have full control over the costs and can also choose between different providers. Therefore, make sure that you always have a transparent insight into the third-party costs, as otherwise you could pay expensive commissions or commissions.
Additional expenses: What now?
It's unpleasant, but unfortunately it happens from time to time. The planned expenses exceed the originally agreed amount. Now there is only one solution: wait until the end of the project and charge the customer with a brief explanation, right? Wrong! Project managers in a PR agency are not only responsible for the implementation of a project, but also for ongoing budget control and planning. If it becomes apparent that additional expenses could be incurred, action must be taken at lightning speed. In any case, you should be notified immediately by the agency if something unplanned arises or if more hours are required for a task than planned. This allows you to keep the reins in your hands and make a decision. Tasks will then be rescheduled or adjusted in duration at your request.
If the budget needs to be increased, you can also request a recalculation. Incidentally, if you feel that you have no control over the expenses during a campaign, you can ask for a budget update at any time. A responsible agency meticulously tracks the hours for each project and can tell you exactly where you stand and what leeway is available at any time.
FAQ:
What is a retainer?
A retainer is a monthly flat rate for defined agency services. For a monthly media mailing, the retainer includes all tasks from briefing, writing and proofreading to the actual mailing, follow-ups and story placement with selected journalists. Ongoing consultation and coordination on timings with the client are also included. A retainer usually also covers a reserve for additional, unplanned measures, such as meetings at short notice and reactive tasks or even crisis advice. The costs can range from CHF 2,000 to CHF 5,000 on average - depending on the goals you have set yourself. Important: With retainers, you should regularly request a budget update for planning security. Good agencies carry over unused hours to the following month, which also gives you the opportunity to try out something bigger after quieter phases without incurring additional costs.
How much does a PR agency charge for a concept?
Between 1,500 and 12,000 francs. In short, there is no general answer to this question. Do you want a rebranding or simply a social media idea? Would you like to holistically improve your communication activities on owned and paid channels or simply organize a media event organize a media event? Our concepts and the work behind them are as varied as your wishes. The costs for a concept are therefore ideally only calculated after an initial consultation.
What does it cost to send media?
This cost depends on whether we write the media release ourselves, whether we already have media distribution lists or whether the mailing accompanies an event at which our presence is required. A mailing with a ready-made press release can be carried out for as little as CHF 500. But is the media release written in an exciting enough way for the media? A pure media mailing often does not (yet) lead to the desired publications. Depending on the topic, a professional agency places individual stories with selected journalists and does not leave it at mass mailings. You can discuss with your agency individually which storylines could be exciting and with how many and which media you would like such a follow-up.