What is retainer pricing model?

A retainer is a pricing model based on the agreement that a client retains ongoing services from you. It’s different from other pricing models in a way that the customer agrees to pay in advance during a set period of time for professional work to be negotiated later.

How much should a PR consultant charge?

Average Rates Public relations agencies’ rates vary widely, ranging from as little as $20 per hour to upwards of $500 per hour. The average hourly rate is about $125, according to data collected by Vincent Hazleton, professor of communications at Radford University.

How much does PR cost per month?

Typical monthly retainers with a PR agency will range between $2,000-$5,000 on the low end and for top-notch firms can go all the way up to $20,000-$50,000 per month depending on the scope of work and value provided.

How much do PR services cost?

During my research for this piece, I found the current average cost of public relations is about $3,000-5,000/month. Project-based costs tend to be lower, running at about $1,000. For example, Paranoid PR charges anywhere from $1,450-5,000/month for a retainer fee, depending on the intensity of the ongoing support.

Which pricing model is a performance based pricing model?

… o Performance Pricing -In this type of pricing model, the customer pays only for the products that provide value or as per the achieved measurable performance of the product or service (Hu, 2004).

How much does a monthly retainer cost?

You can also create different packages for clients that guarantees a certain level of service, consult or working time from you. Multiply the number of hours by your hourly rate to calculate your monthly retainer. For example, multiplying 25 hours by an hourly rate of $107 equals a $2,675 monthly retainer.

How much should I spend on PR?

“I would recommend allocating 15\% of your monthly budget to PR. Most specifically, individuals should not be spending money on “pay for play” articles; rather, use your PR budget for a monthly retainer fee on a publicist.

What is a PR budget?

Budgeting in the PR refers to setting up the costs for the campaign. Budgeting in the PR incorporates costs for all the PR activities that are to be carried out. Budgeting needs setting of priorities and gives importance on being cost-effective. It weeds out ineffective activities.