Know-How Exchange : Other

First of all, you have to be able to estimate how long it will take you to develop and write each section. As a candidate for a Master's degree, you have enough experience with research papers to be able to do this. Outline what you want to include in the plan and then estimate research time, writing time, etc. You also need to be clear with the client about the scope of the plan. For example, if you suggest a promotion, does the client expect just a recommendation with specs, or will you need to give cost estimates? Then you need to factor in time to search out and talk with vendors in order to estimate costs. Will you have check-in points with the client along the way, or just present a finished product? If the client will be closely involved, don't forget to factor in that time as well. That's always one of the huge unknowns when working with a new client.

All of the above gets charged at your hourly rate, as Randall suggests. It wouldn't hurt to throw in a clause that would pay you a bonus as a % of sales that exceed what you project under the marketing plan you propose.

I have a different approach.

Small companies want to know what the total cost will be upfront.

Roll up all your projected hours and out-of-pocket expenses into a lump sum, add 10% for contingencies, and tell them that's the cost for the scope you show them.

Ask them for 25-50% up front (you pick how much) and if they don't stump up, don't start the work.

It's important to understand the value to the client - you may find you can charge more where there is going to be a readily-calculated value to the client, and less where the likely value of outcomes arising from the project is much harder to ascertain or calculate.

Where your proposed fee is more than the value to the client - obviously a no-go - look for ways to reduce scope (and cost) or increase value.

Where the value is way more than the cost on a time basis, look at charging more. Charging for time limits how much you can earn. People don't like paying for time, they like pay to for for the value they perceive.

Hope that helps.

ChrisB