Many companies do ask the question how much does PR cost. This is a difficult question, as it depends on a number of factors.
The cost of a PR agency will vary greatly depending on the level of service you require, and for the size and scope of your campaigns.
If you are a small business, and only need local PR, then the cost will be small. If you are an international brand and are wanting global PR, the cost will be high.
All agencies set their own fee structure. This is to cover their running costs and profit margins. All agencies need to make profit, like any business. So in one sense, you do not get what you pay for. 2 agencies could give you the same results and the difference is the invoice. PR prices vary considerably, so shopping around for quotes is essential.
How well does the agency know your industry? If they have worked in your industry and know the media, they should be able to get you quicker results. If they do not know the industry, then you are paying them to learn.
The best advice is to take a look at a media agency’s client testimonials and what other people are saying about them, especially others in a similar industry or business size as yourself. Ultimately skills and experience will be vital in giving you the best value for money, and a media agency’s track record may end up being more important than the price alone.