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It
is amazing how many sensible executives have no problem
spending money on advertising, yet don't have the
foresight to invest capital into their public relations
programs. When does spending money on PR become an
investment? When it works! That is why we operate on a
results-based flat monthly retainer basis.
There's
little wonder that executives are apprehensive about
investing money in public relations campaigns that are
billed by the hour - horror stories abound of marketing
execs lulled into spending tons of money in this manner.
Under the billable hours model, the PR firm is
compensated for the amount of time it wastes. Hours burn
up, a couple of junior account executives send
PowerPoints back and forth, and companies see checks
going out for months with no tangible deliverables.
It's
a shame that these things happen. However, the more
frequent but less publicized relationships between PR
firms and clients are cooperative and productive. In
fact, return on PR investment generally beats
advertising ROI hands down.
Focusing
on the basics is the key to a productive public
relations investment. Outline the goals and objectives
of an upcoming campaign. Create a budget with the end
result in mind. Develop creative strategies and tactics
designed around those existing parameters. Follow
through with focused execution. Analyze the results.
Adjust
your next campaign based upon results obtained from the
previous one and begin compiling a library of successful
strategies. It pays to retain an outside firm that will
offer expertise in your industry, relationships with
influential journalists, and creative approaches to
attaining media coverage. Carefully screening
prospective firms and working on a simple flat retainer
basis should yield a significant return both in terms of
publicity obtained and monetary ROI. |
