The average recommended marketing budget for a standard business is 7 to 8% of a total company budget–and that isn’t always sustainable. When you are a growing brand, you want to make sure that every dollar that you invest brings back a few more dollars to the corporate bank account. The money you invest today can help to support your brand’s growth tomorrow. In this article, we are going to discuss how companies can save on press services without losing the reach that they offer.
What Are Press Services?
Press services are services that are related to how companies interact with the press. Brands use them to ensure that their message reaches the right audience, preferably a large one. The services themselves can vary depending on your brand’s needs and the press company that you choose to work with.
Some companies choose to have their own press experts create content. For companies that offer this, it can be fairly easy to manage press releases and other statements as long as the press service company has the right reach. Public relations professionals command high salaries, which make them inaccessible for many small to midsize companies.
Many brands have their press needs handled by third-party public relations companies. These companies can handle everything from writing to distribution. Hiring a public relations firm dedicated to your brand’s press needs can be quite expensive and many engagements end in disappointment and very little to show because most public relations firms do not offer guarantees on their services.
Why Do Press Services Matter?
Companies want attention from potential customers and investors, but they only want positive attention. Press services can help companies maintain a positive public appearance and help brands get more traffic, simultaneously.
These services give brands a voice, so they can communicate more effectively with their target audience, as well as the media. When asked, 30% of PR professionals said press releases build strong bonds with reporters and editors, which can be beneficial for getting more coverage.
Press services are just as important for sharing information as they are for correcting it. When you have a new product coming out, you want to share it in a press release. If your company ends up at the center of rumors or public outrage, press releases and official statements can be used to mitigate the damage and help a brand’s image.
The Cost of Press Release Services & Their Impacts
Press services are important, so it is fairly understandable why they can often come with high costs. Brands can spend several thousands to several millions of dollars to public relations firms to have their press needs met. Such budgets are not feasible for small and midsize brands.
To put things in perspective, the average salary of a Public Relations expert is $53,484 per year, and the potential cost of a press release with distribution is $5,000 – $10,000 per month with some services. These significant costs make public relations firms accessible to midsize and enterprise businesses. Since press releases should be released on an ongoing basis, these numbers can take a significant portion of a company’s budget.
Pricing Can Undermine Effectiveness
For maximum effectiveness, press releases are meant to be used on a semi-regular basis. Although one company might have a different schedule than another, the more press releases you share that offer valuable content, the better. Unfortunately, if you are paying a huge price for a single press release, you might not be able to maintain any real degree of scheduling regularity.
Hiring PR Employees is Expensive
The average salary of a press release writer is $75,760 (at the time of writing), and it isn’t much cheaper when you work with third-party PR firms in a lot of cases. Sometimes, the best press release service is a service that matches your budget while delivering equivalent results.
Small and midsize businesses need to use their budgets to provide better products and services for customers, which means they generally can’t afford to blow it all on a PR expert. Hiring PR employees can be beneficial, but it isn’t always a great option for smaller businesses. This means that companies with smaller budgets can miss out on the opportunity to get in front of the general public.
Standard Public Relations Businesses Overcharge for the Same Results
Public Relations firms have been known for their high price tags for years now. For larger brands, these prices can be a worthwhile investment. Everything changes when your brand is big enough to coordinate press on a national scale.
Small to midsize companies have different needs and budgets. In many cases, the press services a small to midsize company needs can be achieved with turnkey press services.
When it comes to budgeting, smaller brands can benefit more from choosing services a la carte. Many Public Relations businesses charge high rates for the same services that smaller businesses offer with similar levels of effectiveness. Being aware of what to look out for can help you to make decisions that fit your needs, as well as your PR budget.
Does Your Budget Mean You Can’t Use Press Services?
Many independent business owners look at press services and see them as an option that is only available to large companies. It is important to know that this absolutely is not true. In fact, many small businesses are missing out on key opportunities simply because they believe they can’t invest in press services without thousands of extra dollars in their budget, each month.
There are press services available for every budget. In fact, there are even free press release distribution services but we recommend avoiding them. However, finding businesses that offer more affordable pricing is often the best press release distribution solution.
You don’t need $5,000+ per month to be published by ABC, CBS, NBC, or Fox… you just need the right company with the right relationships.
Choosing Solutions for Your Budget
Growing companies need to stretch their budgets as far as possible, and that means making smart decisions in every aspect of your business, including advertising, marketing, and press releases. Press release services will not produce a return on investment if you are spending your last penny on them. Fortunately, better solutions exist that fit all budgets.
Flat-Fee Press Releases
Press release prices can vary significantly. One great way to fit press releases into your budget on a regular basis is to choose a company that offers press releases for a standalone fee. These services enable you to plan your PR budget down to the dollar. Find a service that can fit into your budget on a regular basis.
Single-Payment Press Release Distribution
Press release distribution prices can also vary, leading companies to worry about how much their next press release will cost. Finding a company that offers transparent pricing regarding how their distribution works and what it costs is a great way to invest in consistent services with a reliable outcome. Once again, set pricing can help you to map out the cost of press release services with ease.
How to Get Started with Press Release Distribution
Building your press release strategy doesn’t have to be complicated or confusing. Instead, you can invest in press releases and press release distribution with four simple steps.
1. Choose a Company
Your first step when investing in press release distribution is to find the right company to work with. When choosing a company, consider budget, reviews, and reach. You want a partner that can share your message far and wide for an affordable price.
2. Choose a Service
Press release companies often offer a few different services. If you already have someone to write your press releases, you can focus on press release distribution only. However, if you want professional-grade press release copywriting, you can always choose a company that offers press release writing as well.
3. Wait for Distribution
Distribution is a waiting game when it comes to press releases. After you have approved or handed off your press release, you will need to wait for the company to distribute your release through their channels.
Depending on the channels involved and how many channels in the network, this may take a few days. Patience is key during this step. 94% of top marketers and public relations experts use metrics to track their success and adjust based on that feedback, so start planning your next move once everything goes live.
4. Celebrate Your Success!
After your press release is distributed across the right channels, it is time to celebrate. A good company will offer you a comprehensive report of where your release was distributed so you can monitor the traffic from different sites. Keep an eye out for the channels that bring the best traffic and get the most attention on your press releases.
Press services are essential for any modern business and can create a great digital record of your company. To learn about press release writing or press release distribution, you can connect directly with our team at Brander. We provide affordable press releases and distribution services so you can share every major update and big moment with the media and general public.