There’s a lot of talk about the effectiveness of performance PR, and rightfully so. When done correctly, it can get your company in front of some big-time players. But there are a lot of misconceptions out there about what performance PR is (and isn’t).
In this article, we clear up all the confusion and give you everything you need to know about performance PR
What is Performance PR?
Performance PR is a type of public relations that guarantees your company will be featured in top-tier publications like Inc., Forbes, and Entrepreneur. You only pay for placements you receive, so there’s no risk involved. Plus, our team of experienced writers will work with you to create a story that showcases your business in the best possible light.
You see bonus and payment scales based on performance often so why not with marketing? Guaranteed PR just uses the performance-based scale on a marketing level. Backlink articles are one of the best examples of this service.
You see performance pay a lot with startups or businesses that chase sales. Why not see it here too?
The naysayers will tell you that it’s a bad idea. But the truth is you only pay for success so maybe it’s just that they are a bit scared of true competition?
Is Performance PR a Good Fit?
If you’re looking for guaranteed publication of your press release, performance PR may be a good option for you. With performance PR, your name will appear in top-tier publications like Inc., Forbes, and Entrepreneur. You’ll only pay for placements that are actually made, and you’re guaranteed to get placements in at least one outlet.
However, there are some downsides to performance PR that you should be aware of before making a decision. First of all, it can be quite expensive. If you’re on a tight budget, this option might not be right for you. Additionally, performance PR can take up a lot of time and energy. If you’re not prepared to put in the work, it’s probably not worth it. Though most companies work primarily through an agency.
So, is performance PR right for you? Only you can answer that question. Consider your budget, your goals, and your willingness to put in the effort before making a decision. it is quite common for companies to outsource PR.
With performance PR, there are some definite pros and cons that you should take into account before deciding if it’s the right move for you and your business. On the one hand, you are guaranteed publication of your press release with this strategy. You’ll also see your name in top-tier publications like Inc., Forbes, and Entrepreneur. But on the other hand, performance PR can be quite expensive and time-consuming. Weigh all of these factors carefully before deciding if performance PR is the best course of action for you. You may want to call a Performance PR agency.
Now, here are some things that might make performance PR a good fit.
One thing to consider is whether your business has frequent news to share. Do you have press releases or newsworthy activity? This could include things like launches, new products, and industry news.
There are many things that can be newsworthy. Think about whether you will be able to headline and how often or how much.
Another important aspect will be that you can reach your target audience with this approach. Do you know and understand your target audience? What media source will best reach your target audience?
If nothing seems to fit for the source, then performance PR might not really be a good choice. But if Forbes, The NY Times, or another similar source could reach a suitable audience, you should go for it!
When it comes to PR, you may have to work closely with the media. Remember that the goal is to be seen on media outlets. This can be very hard for people that have never been in the media spotlight. Be prepared for negative comments and potentially providing interviews as well.
It’s helpful if you’ve had some media experience and know what to expect. However, it’s not required.
Use a company that you can build a trusting relationship with. If you can’t trust your marketing agency, this is not a good approach. The good news is that you typically will pay based on the performance. After all, that is the basis of the concept. However, you still need to know you can trust the firm to have your back and take a positive approach.
There are possible disadvantages. Remember that we mentioned this is not the solution for every single business. Before you make a decision you should have all of the facts.
Take a look at some of these disadvantages before you decide to go for it.
Costs Can Add Up
You have to be very careful with the approach taken here. It’s important that you and your marketing company choose how many placements you want to go for. If you’re not careful, the performance could quickly lead to costs that add up heavily.
The goal is to perform and get listed but if the campaign ends up highly successful, you might exceed the budget for the project fast.
Using this type of approach could potentially limit your reach. After all, you’re relying on media to place you. You are relying on media to name you as a source. Where they place you and how can be subjective.
This means that you may not reach the audience you were hoping for or the outreach could just be a bust. However, this is where the pay for performance approach can be helpful.
Finally, it can be challenging to measure just how successful this strategy is. While you can measure success by where you get placed, you may not be able to really track how much that placement actually benefits you.
This is where it gets a bit challenging. Do you feel as though being placed in a high-ranking media source is going to be enough? Or will you want to be able to further track activity to measure success? You pay your marketing agency based on placement but it takes more than placement to bring you business, right?
Performance PR Solutions
Performance PR very well could be a great option for some businesses. For other businesses, it might not be the best approach. Work with your marketing agency to determine whether this is a good approach.
Remember that this could be a valuable way to simply get your business name out there. It can be particularly beneficial if the company can get you listed with high traffic PR sources.