Once you decide to hire the services of a PR firm, the hard part begins. How do you find the right company? How do you know they are giving you what you want and need? And perhaps most importantly, can your budget meet your spending needs?
First, it's important to understand the billing practices of most PR companies. Since these companies are consultants, they charge almost the same fees as all consulting organizations like law firms, accounting firms, architectural firms, etc. The main difference is that in the pr firm business there is often more flexibility in setting costs/budgets. Because the needs of every customer are different and PR companies must adapt to the needs of their customers.
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The base price is the service charge. PR companies usually charge one of three ways: hourly, monthly, or on a project basis. Let's take a quick look at each one:
Companies tell you their hourly rate, which is usually based on the number of people working on your account, and then calculates the hours worked in a given month. Because hourly pay can get out of hand, or clients don't know how many hours the company chooses, they can limit the number of hours they set for a month and continue working without being charged extra hours, or notify you, when they've reached their hourly rate.
They and you decide whether to allow overtime for paid work or not.Hourly billing is very similar to how law firms bill, but law firms typically charge six minutes, and every call, email, and of course every meeting counts.