What do the Wall Street Journal and a house have in common?
Years ago after we arranged for a client’s story to run in the Wall Street Journal, we called the publication to ask what the equivalent amount of ad space would cost. The shocking price was around $180,000. I remember thinking, “That’s the cost of a house!” Our fee for arranging that article was less than $10,000, which is still at the top of our Pay Per Interview pricing menu.
To accurately compare the value of PR versus ads, you also need to factor in the intangibles. When you run a paid ad, your audiences know they are being sold to. Space is usually tight so you must use a minimum number of words, and hope they are powerful enough to be memorable and convincing.
But with a PR placement, you have a credible third party (the reporter, anchor, radio host) giving a longer, more in-depth explanation of your product’s benefits. Over the years, we’ve gotten really good at telling our clients’ stories by working with reporters and editors who ultimately include our clients’ company or product in their publications and shows.
We deliver TV, newspaper, radio and online media placements that give our clients bragging rights. They repost them on their websites; they send them to customers, prospects and investors; they display framed copies on their walls; and they use them to motivate and congratulate their employees.
With enough budget, you can pay to run an ad just about anywhere. On the other hand, with that same budget you can secure a lot more media placements. Not everyone can be featured in the news, it is tough to meet the media’s standards. That’s why we’re very proud of the fact that every week we have a dozen or more media placements running for our clients across the U.S. and Canada.
If you would like your company’s story or product to be part of the news, call me at 612-798-7269.