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The Public Relations Firm by Stacy Smith

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CHAPTER 5

How Firms Bill

My budget is very tight and I must know my external counsel costs up front to the penny.

—Executive Director, Non-Profit Organization

We were in the middle of a crisis—we arrived at an “upset” number together at which the firm would let us know when we hit—but we knew it was going to take some unexpected budget to resolve.

—VP, PR, Fortune 500 Company

We use a variety of billing models depending on the needs of the client. They are all doable.

—Partner, Mid-Size Consulting Firm

There are eight basic billing models typically used by public relations firms; hourly rate, blended rate, retainer, value, project, package, performance, and full time equivalent (FTE) model. This chapter will explain each and discuss the various ...

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