How much will it cost?
Before you can hire a public relations firm, you must determine your total marketing budget and know how much will be allocated for PR. Most clients in six-to 12-month contracts are invoiced a monthly retainer or monthly project fee which can range from $2,000 to $10,000 U.S. per month. The cost of the retainer or project fee varies greatly based on the scope of work, the size of the firm, and the firm’s past successes. You must budget not only for the firm’s retainer and project fees, but for the costs associated with publicity (photography, shipping samples, events, redesigning graphic materials, or redesigning your website, etc.). Ask about the specific additional expenses you can expect. There is no ‘one size fits all’ approach for a jewellery business to determine a marketing budget including PR services. New and emerging companies should anticipate spending about 12 to 20 per cent of their gross or projected revenue. More established companies with brand equity in the market typically allocate six to 12 per cent of their gross revenue.
You get what you pay for
When you begin speaking with PR firms about obtaining a proposal for your business, ask for testimonials or references from their past and current clients, as well as the placements they have achieved on behalf of other similar companies. This will allow you to verify the validity of their media relationships. In order to understand what the firm can do for your company, you need to know their capabilities.
Before you sign a contract, make sure deliverables and expectations for both the PR firm and your business are understood. The agency should advise exactly who will be working on your account from their team. Similarly, you will have to determine who will be the internal point person within your company. Working with a PR firm is a two-way street and you will want to make sure you have a dedicated point person who can facilitate requests from the PR firm and will keep the lines of communication open.
Finding the right PR firm can be daunting. Hiring a firm can also be an expensive endeavour for your business, so it is crucial you select wisely. Ultimately, it is all about chemistry and open communication. You should be looking for a PR firm that is not just acting as an agency, but functions as an extension of your company.
Jen Cullen Williams is managing director at Luxury Brand Group, a full-service brand communications agency headquartered in Southern California (Los Angeles and Seal Beach) with an office in New York City. She has been a guest presenter at California State University Long Beach, the American Gem Society, and the Gemological Institute of America. Since 2008, she has served on the executive board of the Women’s Jewelry Association (WJA) Los Angeles chapter. This year, Williams received the WJA Award for Excellence, Marketing and Communications, and was the “Rising Star Honoree” for the Jewelers 24 Karat Club of Southern California. She can be reached via e-mail at Jen@LuxBrandGroup.com.
