Goodbye, Retainers
Inc.com reports on the relatively new idea that has business owners trading in the traditional way of hiring a PR firm for a more pay-for-placement approach. How does it work? The client pays the PR rep/company only when they land press coverage. This means no retainers, no monthly fees, and no exchange of money without something to show for it. This concept is becoming extremely popular because of simple online tools used to track marketing techniques.
However, pay-for-placement can be just as expensive as retainers depending on how much press you receive. So, not only is budgeting crucial, but sharing that magic number with your PR rep before they begin working is just as important.
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