Tag: cost estimate

You plan ad hoc or regular activities in Lithuania and wonder what could be the cost of a basic PR tool – a press release? That’s a short guide to help you make draft estimates. It could also be used as a measurement unit to compare your total PR budget.

So, what is the press release? Year-long preparation for a major project announcement could not be compared to an automated localization of a global news wire. So, what should be included?

• basic case information – research about the product/service category and information environment, analysis of primary client data;
• tactical planning – selecting core newsworthy idea and defining release to public tactics;
• drafting – take an assumption, that initial text would consist of approx. 2,5 thousand symbols (5 paragraphs * 5 sentences * 10 words * 10 letters would equal ~1 page in a standart Microsoft Word);
• review – very seldom initial draft gets final approval, usually it is quite a lengthy process of remarks and changes;
• distribution – traditional email distribution in line with fully or semi automated systems (such as BNS SC, vz.lt. verslobanga.lt etc.).

In order not to make this estimation too complex, I’ve excluded media listing (i.e. preparation and update of the list, who should be recipients of the press release), specific data gathering & research-intensive cases, follow-up calls and international media coverage situations. Most of such services are too client-related and would make estimation too narrow.

I make a reservation, that distribution is carried on via online tools and the only 3rd party cost involved – a BNS SC service (automated press release distribution service, served by the leading news agency). There is a competing ELTA service, but it has some major weaknesses.

I present here two real life scenarios and use my standard hourly fees for PR/PA related activities. All taxes are included.  Hourly fees are in Litas (LTL), as today 1 EUR = 3,4528 LTL.

As usual, long-term cooperation provides an opportunity for considerable discounts, therefore these estimates should be taken into account for single-shot scenarios only.

Case #1 – local press release

Case #2 – localized press release