One of the many questions that I am asked by those hoping to take their career to the next level is: How much should I invest in public relations each month?
The answer: It depends.
Monthly budgets can range from $250 to more than $3,000. Your first instinct may be to go for the smaller budget; however, keep in the mind that those budgets won’t yield as much in terms of results. A budget of $250 will likely only generate a press release or two per month and maybe a little media pitching.
You can’t bring the funds for a Chevrolet but expect to leave with a Rolls Royce.
That said, if you have high expectations, be sure that your budget aligns with those expectations.
A reasonable budget is around $800 per month. Compared to advertising, it is a very modest price. This budget typically works for smaller brands, who want a committed publicist to oversee most of their public relations needs.
On the high-end, a brand can spend upwards of several thousand dollars. In those cases, the company is likely a large, already established one and has the funds to spend on a full-time publicist.
When establishing your budget, think about questions like: Does your business have something to say to the public on a regular basis? Are you a new brand in need of generous media coverage? Do you need a dedicated team to handle your communications needs?
If you answered yes to those questions, you’d likely benefit from a “reasonable budget.” (See above.)
No worries, if you are unable to pay for representation, some firms, including Publicity Stunt Inc, offer do-it-yourself packages. With customized plans, developed just for your brand, you save money by doing the work yourself, following our plan.
PR budgets are not one-size-fits-all. No matter your budget, you can reap the positive benefits of public relations just make sure your expectations are realistic.