Risk Vs. Reward Budgeting
PR isn’t free advertising and unfortunately, you can never guarantee total success. An agency that tells you otherwise is lying.
When we present budgets for to clients, we use a “risk vs. reward” scale. In simplest terms, it analyzes the cost required for a program element and compares it to the likelihood for success and return on investment. Honestly assessing the likelihood of conquest in light of budget resources for each individual program helps our partners decide what’s worthwhile in finalizing the plan. And in other cases, helps them know when to roll the dice.