Performance PR Vs. The Standard Model – Who Wins in 2024?
The world of public relations is changing. Its fast evolution has led to the implementation of new and exciting offerings, Performance PR being one of the fastest growing. But is it worth it?Picture this: It’s 1981, and your options for getting the word out about your business are far more limited than they are today. There’s no X (formerly Twitter) to go viral on, no blogs to feature your latest innovations. Instead, you’re sitting across a heavy wooden desk from a PR agency executive. He’s explaining the cost of a three-month retainer, sifting through a portfolio of newspaper clippings as evidence of their effectiveness.
You’re hopeful, yet anxious. The price is steep and there are no guarantees. The whole campaign could be a flop. Fast forward to today, and the world has shifted. Performance PR has become a recent iteration of the traditional PR model, and it’s transformed the way businesses think about garnering attention. In this article, we’ll break down the exact differences between performance PR and the traditional model, as well as the advantages and disadvantages of both.Let’s begin.
How does the traditional PR model work?
In the traditional PR model, agencies typically charge a monthly retainer fee. This is a set cost you pay upfront, often for a bundle of services like press release writing and media pitching. The focus here is on earned media — getting your story picked up by journalists and featured in publications — rather than owned media like your company blog or social channels. These agencies pride themselves on long-term relationships. They usually have well-established networks and know how to navigate the intricate world of media relations.
The downside?
It takes time to cultivate these relationships, and this is often reflected in the length and cost of your contract.
So how do you know if it’s working?
Traditional PR relies on somewhat vague metrics: mentions in articles, overall press hits, and sometimes estimated audience reach. There’s no strict guarantee these will translate to more sales or customers. And speaking of guarantees, there usually aren’t any (besides the service package you pay for). You’re paying for the agency’s time and effort, not the end result. So if the campaign doesn’t yield the coverage you were hoping for or expecting, you’re largely out of luck — still billed for the full scope of work agreed upon. This model has its merits, but it’s not without risks or limitations. You pay, you wait, and you hope for the best.
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