Know-How Exchange : Advertising/PR

Dear mushroomsue,

I agree 100 percent with Phil and Randall.

In 2010 I was bitten in the ass on the issue of pricing per hour [and I had only a verbal agreement] so my advice is simply this: unless you know the person you're working with and you TRUST them, don't charge per hour, ever.

And get half your fee UP FRONT, and use a standard contract: 50 percent on initial hire; 25 percent half way through, the balance on completion.

This way, you set a professional and personal boundary. You tell you client that you know your stuff, and that you will NOT be messed with.

FULL DISCLOSURE: I've recently done hourly work for a major contributor to this forum [whom I shall not name].

Here's why:

1. I trust this person IMPLICITLY. This individual is a person of high ethical standards and someone that knows how many beans make five [meaning, someone that plays by the gosh darn RULES of doing business fairly and squarely].

2. We agreed on a price and a time duration BEFORE
I began work.

3. The client asked for very specific results, which I delivered. I also gave lots of extra research that was of additional value to the client in related niches.

4. I knew I'd be paid promptly.

5. The client received the research required and ... and this is the critical part ... and was DELIGHTED with the results.

6. The secret to happy clients [or so I have found] is simply this: always—ALWAYS—over deliver.

Exceed expectations. Read people's minds. Give them the results they never knew they needed ... until the worked with YOU. Go beyond what's required.

I billed for five hours, I worked half as much again.

Why? Well it wasn't to win Brownie points. I did it because it's GOOD business!

So, price per project. Estimate how long it will take, what it will mean in terms of time and energy, and then price accordingly. If people respect your work, they'll pay you what you're worth. Here's an example:

My wife's cousin's husband is a plumber in New York City. His name is Paul. He does a lot of high end work in Manhattan. Paul knows his stuff. He works alone. He is never out of work and he doesn't do ANY marketing.

None.

All Paul's work comes to him as referrals. All of it.

Paul charges according to a figure just above the going rate. He guarantees all his work with the following phrase: The client is happy with the work or the client does not pay a dime. He always—ALWAYS—over delivers.

His clients are always happy.

He gets paid—handsomely!

He does NOT haggle on price. Ever.

Last time we met and were chatting over a beer [and because I'd been shafted on an invoice] I asked Paul for his advice about pricing. Here's what he told me.

His price is his price. The client doesn't like it, they can go work with someone else, someone cheaper.

Invariably, the cheaper guy often winds up pissing the client off in some way, so they call Paul to bail them out [some times, literally—after all, he's a plumber]. So then the client learns a valuable lesson: ya get what ya pay for. The client winds up paying the yahoo, AND they pay Paul ... and at the price he originally quoted.

Set a fee and stand your ground. If the client balks, you don't need that client. Walk away. If the client says "OK! Sounds good" ... you know what to do.

I hope this helps and I really do wish you the best of luck.

Gary Bloomer
Princeton, NJ, USA

P.S. Keep in touch. Seriously. Connect with me via e-mail by clicking my name above and via Facebook if you've a mind to. Here's why: good media buyers are worth their weight in gold.

GREAT media buyers are worth their weight in gold, and platinum, and commissions.

No promises, but I know someone that may soon be in need of a great media buyer.