Thanks to social media platforms, getting your message across to your target audience has never been so easy. However, there comes a time when the message you want to communicate is more impactful and engaging than what you send out on your social media platforms. This is where drafting a press release becomes essential.
Unlike drafting regular social media messages, writing a press release is a different ball game. You need to have an intimate understanding of your target customers’ psychology, which is why press release writing should be left to the experts, quality press release writers.
But most businesses prefer to do the job themselves, as they are afraid of how much having a professional press release written costs. If this is you, here’s everything you need to know about the price of a press release.
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How Much Does a Press Release Cost?
You can pay as little as $20. The price differences arise from several factors, and they include:
- Quality
The primary goal of a press release is to give your business publicity. But it only becomes valuable when done right, which is where quality becomes necessary. The core of any quality press release is that it has to be crisp and clean writing that grabs the attention of your intended audience.
The writing should reflect an intimate understanding of your target customers’ psychology. It should also present the message in a way that captures your customers’ feelings and thoughts. Doing so isn’t a walk in the park, which is why quality factors into the cost of a press release.
Let’s say you pay $5 for a press release; then you can expect that the quality won’t be completely great. You will have to do lots of work to make that press release meet the requirements. However, with agencies that charge rates of $500 and above, you never have to worry about quality. You can expect a professional PR writer specializing in the industry to craft quality press releases for your business at such rates.
- Scope
A press release carries the news of a business organization or company to its target audience through media outlets or social media. They aim to deliver important promotional or marketing goals on behalf of the company. But for the press release to attract attention, you need to have a distribution network, the right news, and media relations management.
So, let’s say with a price range of $1000 and above, you get more than just a written press release; you also get additional services like:
SEO Optimization: With press releases, you get SEO value in two ways. First, it is published, and second when the PR generates inbound links when picked up by news streams, media, and bloggers. Also, agencies can incorporate keywords strategically to help with the PR.
Distribution: Agencies that deal with creating press releases have distribution networks. Apart from paying to have your press release written, you also pay for its distribution. The more the distribution channels, the higher the cost.
- How You Pay for the Service
Another factor that significantly impacts the cost of a press release is how you pay for the service. Does the agency offer a flat or hourly rate? Is it a one-time fee or a retainer? While one option may be better, it’s important to note that drafting a press release is more than just writing words on a computer.
It also means understanding your industry, company, and target audience. And the success of your PR campaign will be dependent on these factors. Let’s look at how the payment method factors this in:
Flat or Hourly rate: Hourly rates are much cheaper than flat rates. But, there might be a probability that the job might not be top-quality. Instead, negotiate for a flat rate, as it will give the writer more time to research and write quality press releases.
A la carte vs. Retainer: A la Carte mode of payment refers to paying a writer for one piece of press release writing. On the other hand, A retainer allows you to pay for several press releases for a particular time.
While paying a slightly less fee might seem more attractive than paying a retainer, the results you get from a retainer payment are by far much better than paying for a single press release.
And while there is a massive difference in the price range, it’s up to you to determine what price range will give you the best investment.