I have recently ran across some articles about the cost of press releases. While the authors were throwing numbers and averages, no one took the time to also explain what you actually pay for. A press release costs X amount is a limited way of putting it. What does that price refer to in the end? Here are a few things you should consider when analyzing the price of a press release:
You pay for press release writing
The actual press release has to be written by someone. Unless you already have the text, you pay for the service of having a public relations professional writing it for you. Or editing and rewriting it if you have a rough draft of what you want to say.
The price of press release writing services vary. Who writes it and their expertise matters, how much material you provide and how many hours of research they invest in it adds to the price, how soon you want it might shift the price in one direction or the other. It’s one thing to need a press release where the person or agency you hire will need to support with basic research and have a two weeks deadline, and a completely different thing to require the PR pro to spend a full day researching your business and industry and also need to have it all done in two or three days.
You pay for press release distribution
After having the press release written, you might want more from it than see it posted on your website.You might prefer it to reach journalists, potential customers, business partners and other audiences. In this case you will need distribution added to your press release. There are free online distribution sites that you can try, or you can go for more advanced options. You could pick the top tier press release distribution service from PRWeb for about 400 US dollars or try other less expensive or more costly options.
There is also the possibility of the public relations pro or agency you hire building a custom media list for you, adding the news outlets, blogs and online magazines that would best fit your company and contacting them individually to pitch your story. This is of course one of the most expensive solutions, especially if mixed with a distribution service.
You pay for press release monitoring and reports
Someone has to see who picks your news release, where they publish it and what impact their actions have. Are people discussing your release on social networks? What are they saying? Compiling all this data takes time and interpreting it requires skill.
Here it is, a division of included services in the general cost of a press release. The quality of work, the expertise backing a certain PR pro, the speed at which they can deliver the service, these all should matter in your choice. But first and foremost you should know what to expect and moreover, what to ask for when buying a press release.