Hughes blog post: Hourly rate or monthly retainer?

So you’re looking for a PR firm to help boost communication between your organisation and your target market.

You acknowledge the benefits that a well-planned communications program can bring to your organisation, however you’re not sure about the best way to pay for it. Essentially, there are two standard terms of payment: an hourly rate or a monthly retainer fee.

There are advantages to both, however at Hughes PR we prefer to charge the majority of our clients on the basis of an hourly rate as we believe this allows them to best judge the “results for effort” equation. And importantly, it keeps us accountable.

It also means clients are only charged for hours actually worked, so if a consultant spends 12 hours on your account, you’ll only get an invoice for 12 hours, which would be accompanied by an activity report detailing the work undertaken.

Alternatively, some of our larger clients prefer the monthly retainer option as it suits the long-term strategic consulting services we provide them. A monthly retainer has also proved advantageous for clients who are certain of the scope of work and length of time required, while others simply prefer a set fee for budgeting reasons.

Enlisting the services of a PR firm and drawing on the expertise of consultants is a great way to boost your organisation’s productivity and performance, particularly if your business is under-resourced and over-stretched when it comes to conveying your message to your target audience.

Whether you prefer to pay for these services by way of an hourly rate or a monthly retainer is ultimately your decision, so be sure to weigh up your options and go with the one that best suits your requirements.

- Kieran Hall