Learn about actual and potential costs
How much should I pay for Public Relations Services?
What is the average price of Public Relations Services?
This procurement report includes pricing information to help you purchase Public Relations Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Public Relations Services been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Public Relations Services yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Public Relations Services?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Public Relations Services with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
The top four service providers collectively earn less than 30.0% of market revenue, reflecting low concentration among the market's estimated 8,700 public relations firms. Low barriers to entry encourage new firms to enter the market because they can form without making expensive purchases; the only equipment suppliers really need to... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
What metrics do you use to measure success?
What monitoring services do you use?
Beyond those measurements, what other elements will help our business grow?
Are there any factors that may influence the results of this project?
What happens if the campaign does not produce the goals and objectives identified in the strategic plan? Do you offer any guarantees?
How many clients do you have and how do their accounts vary in size?
In which industries do your clients primarily operate?
How do you retain clients?
How do you identify new business?
Do you have a loyalty program?
Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle changes in demand?
Supply Chain Risk
How do you deal with sourcing to reduce costs and save money for the buyer?
What is your largest input cost?
Do all input costs get passed on to the client regardless of whether they are used on the campaign (e.g. software and subscriptions)?
Do you source materials with high exposure to market disruptions resulting from the coronavirus? How are you coping with these disruptions?
How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?
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Key elements for every RFP
What should my RFP include?
Buyers should state their total budget for the project.
Buyers should request a detailed breakdown of prices for each service that will be conducted in the course of a public relations campaign.
Buyers should request a breakdown of the price of any related services that will be billed to the buyer.
Buyers should reference the Benchmark Price and Total Cost of Ownership sections of this report for assistance in creating a budget.
Buyers should give preference to vendors that have experience in the market and have worked with difficult public relations issues before.
Buyers should prioritize vendors with a highly qualified staff.
Buyers should give consideration to vendors that have a distribution scope that can meet their needs.
Buyers should consider the pricing options offered by the vendor.
For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers should specify the deadline for proposal submissions.
Buyers should state when the final selection will be made and when award information will be available.
Buyers should specify their preferred start date and contract length, including options for renewal.
Evaluate major factors to mitigate risk
How risky is the supply chain?
The supply chain for public relations service providers is moderately risky. Moderate supply chain risk somewhat hurts buyer power because suppliers may pass a portion of fluctuating costs to buyers in the form of higher prices. Because suppliers have little direct purchase costs, the majority of costs are for overhead... Subscribe to learn more.