Importance of Planning a Public Relations Budget
A budget is a vital part of any public relations and communications plan because it provides a clear overview of all the costs associated with carrying out the outlined activities. Public relations activities is a very cost-effective method to promote your company’s products and services to the well-defined target audiences.
On the other hand, these activities involve certain costs which vary depending on the PR plan and objectives for the year, the number of people involved in the overall project, the geographic location of the PR agencies your company is collaborating with, and many other factors. Thus, it is important to plan your activities and allocate a specific budget that also allows you to be prepared to address unexpected issues that might arise during the year. Creating a PR budget can help you adhere to your plan, avoid unanticipated costs and minimise the possibility of overspending. An accurate estimation of the expenses is crucial for the achievement of your PR goals.
However, you can also measure the success of your PR goals by comparing actual expenses against the costs you have projected. In this way, your PR budget acts as a reference for adjusting your PR plan in the course of the year and for the design and implementation of your future PR plans. To help you plan your budget and let you compare your actual and projected expenses for the PR activities, I have created a PR budget template, which you can see on the left side of this page.
How to Use the Public Relations Budget Template
Fill in your monthly actual and projected expenses for each category and you will see that totals are calculated automatically. You can change public relations activities and the year depending on your needs.
Sheet 1: Budget - Monthly is to be used for planning your budget on a month-by-month basis.
Sheet 2: Budget – Quarterly is to be used for planning your budget on a quarterly basis.
Post written and PR budget template created by Liudmila Kazak.