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  • #987644
    AR48
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    • Total posts: 12
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    Hi,

    I’m 3 months into my business and coming to a bit of a confusing part with my pricing. I’m doing marketing consulting and other marketing services. Lately I have two companies who want to use me as more of a marketing agency as they are using a range of my services plus my advice and organisation along the way. At the moment I am charging the initial consultation then per service of what they are after. I’m thinking I may be selling myself short as the advice I give along the way isn’t charged.

    Just want some suggestions if I should be doing a monthly fee for “managing their account which includes advice” or could this fee open me up to being used too much with hrs devoted to their business… Or would I put a cap on the hrs they are allowed to?

    Thanks

    #1163673
    Michelle Johnson
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    Hi there,
    What about if you include a certain amount of “advisory time” in your original quotation, and then charge for time over and above that?

    or I like your idea of a monthly fee as this will ensure ongoing income – perhaps just be clear about what kind or how much advice this covers and then charge additional services on top.

    Let us know what you end up doing – and have fun!
    Michelle

    #1163674
    The Hobbit
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    • Total posts: 309
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    Setting fees is quite tricky business but, there is a formula.
    We have included a whole chapter on the topic in our ‘Become a Successful Consultant Manual’.
    Most new consultants tend to set their consultancy fees too low, this is usually a combination of eagerness to win business and a failure to understand their cost structure. There are a number of factors involved in setting fees for a service. Naturally, what the market will bear is the ultimate determining factor; but you still need to understand your cost structure in a realistic way.

    #1163675
    MissSassy
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    Ultimately I advise everyone that regardless of your price you must be happy to do the work.

    Early on in your business you will do more for people than once you are a few years down the track. You will vary your offering based on what your clients ask for most often and your business model may change from what you initially planned.

    Perhaps speak with these clients and ask them what would work – come up with a couple of choices and see what they like. Whatever the outcome you must be happy to do the work for that price – so if it is $10 or $100. You don’t want to complain after that you didn’t get the job cause you were too expensive or you got the job and didn’t charge enough.

    Hope that helps

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