Finding the Perfect Public Relations Company

July 25, 2024

A good public relations company is an indispensable part of a solid marketing & communications strategy. This article will help you determine the best way to find a PR firm that will be the right fit for you.

Table Of Contents:

  • What does a public relations company do?
  • How much do PR companies charge?
    • Retainer Fees
    • Project Rates
    • Hourly Rate
    • Finding the right Public Relations Company for Your Needs
    • Questions to ask Public Relations Companies

      What does a public relations company do?

      A public relations company, AKA a PR agency or a PR firm, manages a company’s reputation through efforts, including media relations and social media. Public perception of your company is just as important, or more important than the actual products or services offered. PR firms can work with local, national, or global brands.

      PR services once meant traditional media like magazines and newspapers. It now includes strategic communications, thought leadership, corporate communications, press releases, digital media, influencer marketing, social media marketing, content marketing, reputation management, crisis management, and more. Expert PR services are a great resource for businesses that need help navigating the complexities of a diverse media landscape.

      How much do PR companies charge?

      Public relations companies often charge an hourly rate or a project rate. You might also be billed monthly, a common model referred to as a retainer. Rates can vary based on needs or the number of team members required on a project.

       

      Retainer Fees

      Most PR companies work on retainer agreements. These vary but most have a minimum monthly payment in exchange for a set amount of work per month.

      Common pricing ranges from a few thousand dollars per month to tens of thousands per month. Most retainer fees are for media relations and press coverage. Retainer agreements may also include content marketing.

      Project Rates

      Public relations agencies may charge by project, especially for event marketing or longer-form content. They could, for instance, give you specific project-based pricing to manage the launch of a new product. This project rate would detail everything you will receive for that payment and what the public relations company’s team will accomplish.

      Most PR marketing companies charge for expenses out of pocket, adding them to your bill at cost. When evaluating proposals, be sure to understand the scope of work and the deliverables included in a project rate. Ask for clarification on any items that seem unclear or are not explicitly stated in the contract.

      Hourly Rate

      Hourly rates are typically charged when the public relations company isn’t sure how much work will be required. Crisis communications, litigation, and reputation management can fall into this category. If a crisis goes viral on social media, the agency might have several team members putting out digital marketing fires around the clock.

      Hourly rates are a good option for businesses that need help on an as-needed basis. It is also a good option for projects that are difficult to estimate upfront. However, it is important to have a clear understanding of the agency’s hourly rates and how they track their time.

      Key Takeaway:

      PR companies typically charge hourly rates, project rates, or monthly retainer fees, with costs varying based on experience and the scope of work.

      Finding the right Public Relations Company for Your Needs

      There are tons of PR agencies. They work with global brands as well as small, local ones. To help clients choose the right one, a public relations company will list practice areas and case studies.

      This is all about their industry expertise so check those lists to make certain they are familiar with your business needs and industry. Consider what industries they have experience in, their track record of success, and the types of clients they have worked with in the past.

      Questions to ask Public Relations Companies

      You’ve probably checked out practice areas and case studies by now, but what else should you ask a public relations firm? Here’s a list of questions. These questions should give you everything you need to select the best PR firm for your company.

      What public relations services do you specialize in?

      All PR firms have their specialties, whether that’s media coverage or social media marketing. Many public relations firms focus on tech companies while others specialize in real estate.

      Think about your particular company and what it needs. Then pick the public relations company with the right industry expertise and skillset.

      How do you partner with my marketing agency?

      A PR company acts as an extension of your in-house team or marketing agency.

      conduct Collaboration is key. They conducts brainstorming sessions and regular check-ins to make sure there’s continuity across efforts.

      Can I speak to some past or current clients?

      Getting a list of notable clients is helpful, but hearing directly from those notable clients is even more useful. Ask for a contact list and make sure those companies are comparable to yours in size. A tiny start-up doesn’t require the same kind of public relations marketing as a company on the Fortune 500 .

      Do you have experience in my industry?

      You want the PR agency to understand how your industry works. They also need to know what’s hot and trending.

      This goes beyond standard business expertise; they need the ability to spot shifts in trends and culture. If a client is suddenly targeted with misinformation on TikTok, you want the PR agency to be prepared with crisis communication options. You’ll also want to get a sense of their communication style and how they would work with your team.

      Who will I work with on a daily basis?

      The website of a public relations agency features biographies of the leadership team, but those individuals rarely work on the front lines. Ask to meet the team members that will work on your project day-to-day. Make sure their leadership skills and expertise align with your expectations.

      How do you measure the success of your public relations efforts?

      Getting your brand name out there is the main goal of most PR campaigns, but what does that success look like? How will they show that progress?

      Any successful marketing campaign starts with goals. This might be securing articles about the company, landing media appearances, or mentions on high-profile podcasts.

      Look for an agency that uses data and analytics to track their progress and measure their success. It’s not merely about getting your name out there but ensuring that your message resonates with the right audience.

      Conclusion

      Working with a public relations company is essential for most businesses, but you want to choose the one best suited to your specific needs. Make sure you feel comfortable with the individual team members working on your account, and ask lots of questions about their marketing and crisis communications strategy. The public perception of your company rests in their hands.

      Looking for help with PR — including strategy, media relations, content marketing and analyst relations? Mercury Global Partners is an award-winning PR firm focused on emerging tech. Get in touch at hello@wearemgp.com to discuss your PR needs and goals.