In today's digital world, building and maintaining a stringy online presence has become more important than ever! Brands have more chances to get into a wider audience pool and get the spotlight on them. Press releases are text-based brand announcements that are made to positive media attention and feedback. These are also the ideal marketing tools for businesses and individuals who are looking for maximum online exposure, press coverage, and an affordable way of advertising.
There are different factors that you need to consider before you start publishing frequent press releases and the price of a PR (Press Release) content is one of them. Both the press release writing and distribution services are available on the market and most of the time, they come in packages as well. So what exactly are the deciding factors when it comes to a press release cost? Let’s find out.
What are Press Releases and When They are Used?
Before moving forward with the cost factors of PR content, let's clarify the understanding of what exactly is a press release and when organizations or individuals use it. A press release is a text-based announcement that is published to garner attention from media outlets. Previously, these contents were published for the print media which is now converted into digital media.
A press release is an official announcement from a company that contains newsworthy information. These can contain news of a new service or product launch or information about a company event. These can also be about any recent update or change in the management positions or any decision regarding new branch, expansion, acquisition and merge, etc. PRs also perform quite excellently in crisis management. Usually, it is the Public Relations department that looks after these publications.
What are the Cost-deciding Factors of a Press Release?
Factor 1: Quality of Writing
The first factor that will make a difference in the cost of a press release is the quality of its writing. It is the crisp, concise, and clear writing of press release content that makes it different from any other web content. It is also the key factor that grabs the raiders' attention right away. People often make the mistake of thinking that the PR is short and to the point, so it must be easy to write. However, in reality, simple is hard. A well-written press release is short, direct, and clear and communicates something small in an urgent and great deal. The content must also be tailored to specific audiences and used accordingly.
Factor 2: Scope of the Content
Identifying the proper news that needs to be distributed, crafting the distribution network, and managing the media relations, are among the other things that create the scope of a press release grabbing readers' attention.
The story of a press release is a great deal so you need to identify which story is press release newsworthy. If the story is connected to trending events, media and news outlets would want to pick it up and consider it a news story. So, this requires ample media knowledge and detailed attention to company activity. This will make it more relevant to the readers and increase its readability as well. What you can do is -
- Pay close attention to company events as it is really easy to miss events such as anniversaries, new lines of business, and small partnerships which will cost a big opportunity to garner media and customer attention.
- Keep your eye on the current trends so that your press release news story can be relevant enough for your readers and media outlets.
- Send the PR to the media and new outlets and journalists with a media kit. As they are busy people, they will appreciate efforts that make their work a little bit easier. The media kit should include leadership bios and headshots, company history, boilerplate, and other relevant information.
- Optimization of the content so that it helps search engines like Google, Yahoo, and Bing find press releases easily and match them with search queries. Keyword-infused press releases also help bring in more web traffic to the business website, increase visibility, and turn more visitors into paying customers.
Factor 3: Distribution Quality
Another factor that plays a major role in deciding the cost of a press release is the quality of its distribution to news and media outlets. To get the best results, press releases should be distributed to a variety of outlets, such as business sites, trade magazines, and industry bloggers along with news and media outlets. These outlets should also be of the top-quality, with as much reader base as possible. The more exposure the PR content will get in front of already established audience bases, the better the publicity will be. Distribution of the press release, as well as the consultation of the distribution methods often creates a difference in the cost. Providing the distribution network with a list of media outlets and names you want to target might make this list go down a little.
Factor 4: Paying Method
Which method you are choosing for payment also makes a huge difference in the cost of a press release. Different methods of payment are available on the market including -
- Hourly and Flat Rate - While paying, you can either choose the hourly rate or the flat rate for the press release content. The hourly rate indicates that you have to pay the writer for every hour. This method is better if you want to save some money because it would be a lot cheaper. However, paying a flat, pre-selected rate will give more time to the writers which they can use to conduct proper research. So while an hourly rate would save you money, a flat rate assures you of quality.
- A La Carte and Retainer - A La Carte asks payment for a single press release service while Retainer asks payment for a series of press releases over a longer period. In this case, if you plan to go for frequent press release publication, going for a retainer service would be a better, more cost-effective idea.
So, these are the general factors that create a difference in press release costs so make sure to do industry research and tally your company requirements before engaging with any reputed professional services.
