Question
Topic: Strategy
Marketing Consultant Rates?
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I have a few pointed questions, but I'd also like to hear more general discussion on the topic as well.
1) How do you price contracts? By the hour/day/week/month? By Deliverable? By Length or Project? Non-negotiable Flat Rate Fee?
2) What factors go into your rate? (Competitive bidders, your own experience/expertise, what the client can afford, price on a whim?)
3) How much negotiation do you get from prospects? Do they try to lower your price? Do you let them?
My reason for asking:
I have come upon a rather nice niche in marketing consulting, and there really isn't anyone else doing it. When trying to determine how much to charge for this I need to come up with something reasonable. I'm a corporate "lifer" until now, so I'm used to the flat rate system, but I haven't seen that successfully used in consulting.
I have a 2 week "sample" contract coming up that could lead to a much larger contract, and want to determine what a reasonable rate would be.
The primary deliverable is going to be a review of the market messaging in place at a corporation over the last 6 months. It will include data from client and prospect interviews, information on what competitor messaging has done to attack the client message, and how to best protect the client company from these attacks. It will also hint at the larger contract possibility whereby the entire sales process can be revamped to successfully incorporate the recommendations.
Thoughts on pricing models? What would "you" pay for a service such as this? Or as stated earlier... how would you go about determining your price?
Thanks for your help! (Listed as urgent due to the need to get pricing out by the end of the week!)
Tate