Five reasons it could pay to be open about your communications budget

published on July 26 2017
by being transparent, you will establish a relationship that is based on trust from the outset.

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This article was originally published in the July edition of 47, Pesel & Carr’s quarterly communications newsletter.

A handsome youth is on board a boat in the ocean with a magnificent tiger, caught mid-snarl. The caption? “Client brief.”

The accompanying image is a skinny kid in a slum with a grumpy tortoiseshell moggy. It is titled “Client budget”.

A fitting meme for PR agencies; all too often, prospective clients treat information about the size of the communications budget for their project like a State secret.

On the surface, it probably seems like a smart move. After all, surely you would want different agencies to compete on price, and come up with the best deal on the set brief.

The problem is that most businesses requiring communications help “don’t know what they don’t know” – and are unable to establish a brief outlining the degree and type of service required.

Instead, PR firms invest inordinate hours developing a creative approach to deliver the desired business outcomes while being left completely in the dark on the potential client’s budget.

With contemporary communications, the range of options is so mind-boggling that it’s helpful to know if the menu you’re after is equivalent to ‘Maccas’ or something more upmarket.

In addition to the standby of traditional media, tools we might suggest using include roadshows, round tables, speaking engagements, political briefings, influencer marketing, social media, guest blogging and more.

Here are five reasons why it could pay to be open about your budget.

  1. You will end up with a proposal that is realistic, and that you can afford.
  2. Limits inspire creativity – if you have a tight budget, you encourage “out of the box” thinking, alternative problem solving approaches and prioritisation.
  3. You won’t waste time meeting with firms that aren’t interested in working with your budget.
  4. If your budget is completely unrealistic, you will be set straight.

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