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Tuesday, January 31, 2023

How Do You Budget For Press Releases?

Marketing for startups takes money and effort, especially for an effective campaign. If you only have a small budget, ensure that you invest in high-quality press releases. With the availability of the internet, press releases have an edge compared to organic marketing. Journalists, news outlets, and various channels can pick up press releases for easier distribution. However, the cost of writing a press release is a big investment.

So how do you budget for a press release? You need to have a set goal, scope, and of course, money. The quality of the press release will depend on the available resources. Keep in mind that press releases have a polished output as per your request. It is possible to have a press release made by an agency, a freelance writer, or a seasoned professional. 

How Much Is The Cost Of A Press Release?

The exact cost of press releases varies. For example, a novice freelance writer may charge you $50. However, you shoulder the distribution as the freelance writer prepares the press release. If you hire an agency, they may charge around $3,000 and up. By these rates, the agency understands your audience and has a network of writers to contact. The press releases’ output depends on the budget. Therefore, you must know where your baseline is for your press release. 

Factors To Consider In Press Releases

Here are the factors to consider in budgeting a press release as follows:

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  • Scope – The first thing you should consider is the scope. Who is the intended audience? When did it happen? What should the press release cover? Where did the event occur? Why is this important? This information is the first thing that the reader should know. It presents the content in a digestible format. Ensure the information is factual to provide a valuable press release for potential partners. 
  • Quality – Secondly, the press release should be of excellent quality. A clear and concise press release communicates the message to the intended audience. Ideally, no errors and grammar mistakes should be present. As much as possible, rewrite the press release until it meets the client’s standards. If the quality matches the client’s standards, it is ready for publication. 
  • Distribution – Third, the press release should have many distribution channels ready. Think of bloggers, news outlets, websites, emails, and more. If you lack the channels for your press release, the distribution will not spread as fast. For example, an agency has many channels for distribution that have high-conversion rates. 
  • Payment – Lastly, you pay for writing a polished press release. If you hire a freelance writer, they may charge hourly or at a flat rate. One way to check the costs is the Brander pricing to give you an idea. While the costs are expensive, it is a good investment to have a press release.

Wrapping Up

Budgeting a press release considers its scope, quality, and distribution for your business. Investing in a press release ensures that you have a way to market your brand. You can do this by hiring a freelance writer or an agency, whichever works best. Ultimately, getting conversions and leads with the best price is what you get with a press release. 


Author’s Bio:

Edwin Deponte is a motivational writer who is also passionate about anything digital and social media marketing-related. Lately, he has ventured into writing more about press releases and how they can help brands gain more exposure digitally. On his free days, he spends his time indulging in digital and social media marketing books. 

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