PR is a business function like any other. These 5 simple cost-benefit questions will tell you if outsourcing PR might work for you.
Public Relations: do it in-house, or outsource? If you keep it inside, the drag and hassle it adds to your business processes may be affecting performance. So instead of abstract concepts, how about we just talk hard numbers? Here are some that add up to a big idea: outsourcing can be a blast.
5: Outsourcing PR can PAY BACK DOUBLE.
FACT: Business experts from Adam Smith to Peter Drucker agree: stick to your core competency, outsource everything else. Studies show Return on Capital rising from below 10% to over 20%.
4: An outsourced PR team SAVES YOU 20%.
Just one inhouse head costs 50% of a salary to resource, hire and fire. When you take hidden costs into account, outsourcing PR could save £50,000/year on a £250,000 budget.
3: Outsourcing PR TRIPLES YOUR CAPACITY.
Service businesses such as a PR agency work at 70% utilisation and resource for 200% – meaning in a crisis the whole agency can swing into action for you, providing 3x the resource. Something your in-house team can't do.
2: Outsourcing can SLASH FIXED COSTS.
A typical 50-strong SME has to make a £1.5m payroll each month. (HR Magazine.) If your 4 FTEs of PR are outsourced, that's a £160,000+ slice off your fixed costs. Which will make your shareholders smile.
NOW THE BIG ONE:
1: Outsourced PR means GLOBAL COVERAGE.
You focus on your core competencies. So does a PR agency. With a broader range of tools, methods, and training, a good outsourced PR team delivers greater media coverage and influence than most in-house teams... because their business depends on it. Sending your reputation skyrocketing.
Plan how your brand messaging is communicated to your customers with our eGuide: How to create a personalised PR strategy
Valentine Smith | Account Director
Valentine is responsible for the strategy and implementation of Tomorrow People PR services, with a focus on ROI and commercial agreements.Follow Valentine for more of the latest industry insights