To help new business owners figure out how much to invest in Public Relations, we asked PR and growth experts and business developers for their recommendations.
The experts provided several recommendations to help founders decide how much to invest in PR, including investing a percentage of annual revenue and investing based on business needs.
"I don't think there's a magic percentage that works for every business. Instead of asking, "How much should I spend on PR?" I'd ask, "What business goal am I trying to achieve?"
If you're launching, entering a new market, attracting investors, or building credibility, PR is definitely a worthwhile investment. Start with clear objectives and a realistic budget you can sustain. And remember that consistency almost always delivers better results than a short-term push."
"There's no universal PR budget because the right investment depends on your stage of growth, not just your revenue. For most growing businesses, I recommend allocating 5 to 10% of your marketing budget to PR or committing to a monthly budget that can sustain activity for at least six months. P
R compounds over time. The best attribute that media has is its ability to give credibility, generate backlinks, do SEO, and make it easy to reach out to people in the future.
The biggest error that startup owners commit is thinking about PR as a one-time activity. Regular investment, albeit in small amounts, will usually yield more returns than a huge one because trust comes from continuous exposure and not from a single news story. Figure out what you would like to accomplish and budget accordingly."
"How long is a piece of string? The best part about being an entrepreneur is being able to create business models that fit most budgets. Having said that, consistent and persistent PR will always win, and that requires a monthly investment.
If you are running PR in-house, or a DIY program, I recommend a minimum of $500 per month. And time. Lots of time.
GreenQueen’s client, RUKE, from Game Changers Club, says it best, "Those who know what they want get what they want. Start with the objectives. New founders should go small and go often. Six months of steady, honest placement beats one expensive splash nobody remembers by Friday."
And if you, or your expertise, isn't ready to be positioned, wait. No point in winking in the dark."
"Start with a PR freelancer or boutique agency to get the focus your startup needs at a budget you can sustain, since PR requires consistency.
A freelancer will create a proposal for you in the range of $2,000 to $5,000 per month for a minimum of six months. Focus on investor relations, as media coverage is an important signal of relevance to investors. This will help you secure cash flow while investing in compounding PR activities.
In addition to allocating a minimum of $2,000 per month when working with an expert, you must also allocate time for strategy calls, interviews, and thought leadership placements."
Vetted PR Experts: Contact a vetted consultant, publicist, or growth strategist.
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