Value pricing – create your own framework A lot of work goes into creating successful Intellectual Property intangible brand assets and marketing campaigns. Unfortunately, many of the millions of ideas and thousands of hours invested each year, are not sold for a price which reflects the value delivered. In fact, many agencies say that the [...]
KMint Workshop with: Sam Trattles There is a feeling that comes over you when a game-changer deal comes in the door, a deal that would mean you would need to hire staff in order to take it on. These types of deals can cause you a great deal of pressure, and sometimes even mild panic [...]
An agency should be reviewing it's pricing at least once a year. The most common times to do this are: in line with the new financial year; or at the start of a new calendar year.
A Public Relations Podcast with: The Financial Soulmate® In this Smoke Signals podcast with Paul Cheal, I speak about a different approach to pricing: Value-Based Pricing. Numbers, budgeting and forecasting are not normally the natural domain for PR professionals. However, if you’ve ever worked in an agency there is one thing we certainly know [...]
Value is in the eye of the beholder Last year I worked with a number of agencies which, in addition to their traditional pricing models, introduced value based pricing methodology. Value based pricing shifts the focus from talking about how the work is done, to the results the client should expect. So to be [...]
Rates - update your cost and sell prices An agency should be reviewing its cost and sell rates at least once a year, often this is either in line with the new financial year, or at the start of a new calendar year. Armed with your latest budget, calculate your cost per hour rates [...]
In a competitive and crowded marketplace Agencies often struggle to stand tall and protect valuable ideas. Its important to remember we have industry best practice tools and techniques to ensure that recognition, reward, and respect, is maintained.
This 2.5 minute YouTube video is definitely worth watching and 2.5+ million other viewers think so too. If you haven't seen it, click on the link and remind yourself why it's so important to stand up for our profession and #SayNoToSpec http://www.zulualphakilo.com/saynotospec/ Respect to Zak Mroueh, Chief Creative Officer & Founder, Zulu Alpha Kilo, and [...]
Time is precious, and yours is best spent understanding and discussing the results, not preparing all the spreadsheets and checking the data. My first piece of advice to business owners and managers is 'don't live in Excel'; rather: implement the right job management and accounting systems, and invest in the right person to train your [...]
You know how important your brand is for the success and value of your business. But, do you know how to calculate that value and turn it into profit? Follow me throughout this article as I explain the calculations of brand valuation and how you can identify and quantify your brand assets to enhance and [...]
