You likely know your business needs marketing and public relations, but how much should you budget for it? The answer to that question will depend on whether you decide to hire an outside marketing and PR firm or hire an in-house full-time employee to manage your marketing and public relations. There are pros and cons to each solution.
Benefits Of An In-House Marketing And PR Employee
Hiring an outside marketing and PR firm may not be appropriate for every business, especially those with smaller budgets and resources. If you find yourself in this position, there are some benefits of keeping your business’s marketing and PR in-house. According to Prowly, some of these benefits include:
- No one knows your business and industry as well as you do.
- Communication can be easier without an outside firm to coordinate with.
- Your business is always the top priority.
- Hiring in-house can save you money.
Benefits Of Hiring A Marketing And PR Firm
While there clearly are advantages to hiring a marketing and PR employee within your own company, there are many things that an outside marketing and PR firm can do for you that your in-house employee may not be able to. Prowly states these as being:
- PR agencies have more (and better) media relationships.
- Outside firms have a fresh perspective on your business, your brand and your customers.
- Agencies are more in touch with trends, the media landscape and the big picture.
- You get access to senior talent that you’re unlikely to have on an in-house team.
Setting A Marketing & PR Budget
The cost of hiring a marketing and PR firm can vary depending on what services they provide.
While hiring a marketing and PR firm may be the best choice for your business, how much is reasonable to spend on one? Although research shows companies spend about 10 percent of their revenue on marketing, it’s important to realize that 10 percent of a $100 million company is still $10 million. Unfortunately, small and mid-size companies just don’t have the revenue to keep up with businesses pulling in millions of dollars.
The good news is that instead of charging costly monthly retainers (most agencies range from $4,000 to $10,000 per month), Three Girls offers high quality, custom content marketing and personalized public relations services at a much more cost-effective rate. Unlike most agencies, we only charge for the services the client needs, based on their goals, industry and budget. From editorial media campaigns and social media management to quality custom content creation including website creation, blog posts, graphic design and newsletters, our clients receive top-quality content marketing and public relations care for a much more reasonable rate.
Curious how much our clients pay? It really depends on which services they invest in. Each proposal and contract we create is tailored to their specific needs, so each client’s costs are unique to them. The best way to determine your individual costs is through a complimentary consultation with us.
Special Offer:Sign up for a complimentary consultation during December and receive an Annual Marketing Planning Guide valued at $475! We offer a 30-minute phone consultation with our CEO, and can answer your questions and discuss your specific marketing needs - no strings attached. Call 408-218-2391 or contact us today to arrange your consultation!