Whether a company should have a retainer or work on a project basis when working with a PR agency depends on the company’s specific needs and goals.
Retainer-based relationships: A retainer-based relationship is when a company pays a monthly fee to the PR agency for ongoing PR services. This type of arrangement is often used for companies that need regular PR support and want to maintain a consistent level of visibility. Retainer-based relationships are a good fit for companies that want to build and maintain a strong public image, and need ongoing support to achieve this goal.
Project-based relationships: A project-based relationship is when a company hires a PR agency to work on specific projects or campaigns. This type of arrangement is often used for companies that need PR support for a specific event or product launch, or for companies that have a one-time need for PR services. Project-based relationships are a good fit for companies that have a specific PR goal, and need support to achieve that goal.
Both types of relationships have their own benefits and drawbacks. Retainer-based relationships provide a consistent level of PR support and often take priority within agencies. Project-based relationships can be more cost-effective, but may not provide the same level of ongoing support. Ultimately, the choice between a retainer or a project-based relationship will depend on the company’s specific needs and goals.