Pay for Performance Public Relations
Result-based Public Relations
Matrix Marketing Group saw the light back in 2004 then we first announced our Pay-for-Performance PR model. It’s an alternative to the traditional retainer-based model. It was a bold move.
The Pay-for-Performance PR model offers clients the ability to pay for results produced rather than billable hours. For example, a business may hire a PR agency to develop and “pitch” its news to a targeted group of media. The company is billed after a news story is published or covered by the media. Looking at how the pay for performance public relations programs works, it doesn’t take long for one to see why it is increasing in popularity: It is the pragmatic way to do business. The Pay for Performance Public Relations programs is more client-focused, more results-based, and it demands greater accountability.
The next step then becomes determining if Pay for Performance Public Relations programs is right for you. Who makes a good candidate? Ask yourself the following questions:
- Does my company have a sustainable flow of news stories, create stories and angles that warrant news coverage on a regular basis, and remain active in whatever it does (e.g., creating innovative products, new client wins, product launches, new technology, etc.)?
- Does my company’s news have a national focus with a clearly-defined target audience?
- Is your company experienced working the media, or are you comfortable in an interview situation with a journalist?
- Are my company’s products and services differentiated and do they match up with the needs of the existing market place?
- Is my company’s messaging established and is an overall strategy in place so that the focus is now on increasing PR?
- Do you know what media you would like to be featured in?
After answering these question and you’re still doubt call us.
Ready to go, download agreement here>>>
Matrix Marketing Group goes the extra mile to understand what the client does and what its needs are before developing and delivering a client’s message to the media. Under a Pay-for-Performance arrangement, the burden is on the PR agency inasmuch as it absorbs the risk of creating product (e.g., research, pitch, etc.) and incurring costs before measurable results are known.
The Pay-for-Performance PR program is ideal for start-ups, venture-funded companies and those companies desiring to re-brand or re-launch their products, services, or their overall image. This model can also assist companies who are already established but who just want to raise public awareness.
Take for example, Instill Corporation based in Redwood City, CA. Instill provides a comprehensive set of supply chain information services and spend management solutions for leading CPG companies. With a focus on the food industry, Instill’s customers include such leading companies as Applebee’s International, Hardee’s International Dairy Queen, Sodexho International, YUM! Brands’ UFPC (Taco Bell, Pizza Hut and KFC), General Mills, and Procter & Gamble. While Instill is recognized as the leading technology provider in the foodservice industry, the company wanted to continue to build on its national visibility. Engaging a public relations firm was an obvious next step, but Instill was looking for options beyond the traditional retainer model. “Generating news stories in key targeted media about Instill’s developments and reinforcing our unique value proposition remains a primary goal at Instill, and the Pay for Performance PR model caters to this need,” said Jeff Smith, Instill’s Vice President of Marketing. Jeff continued, “We are results-driven and invest our marketing dollars in areas where we can show demonstrable results. That is what first caught our attention when we noticed the Pay-for-Performance model and helped us decide to work with an agency, Matrix Marketing Group, that offered it. This public relations model offers unbundled pricing options and a variety of services that generate results, cater to our specific needs, and gave me confidence in making the investment.”