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What Fees To Charge for Your Marketing Services

Guest post by: Paul Tobey

Article Overview: 3 Quick tips on how to decide on the fees to charge for marketing services. Setting your price and what the market can bare.

What Fees To Charge for Your Marketing Services

I've had the priviledge of training hundreds of business consultants who come to increase their market value by getting certified for internet marketing and social media training. I don't say that to impress you, but to impress upon you that hundreds of people want the same answer. What fees do I charge and what can the market bare? After travelling one hundred and fifty thousand miles throughout Canada and the USA, I can tell you the markets are drastically different right now. Canadian's are feeling optimistic about their economy and their small business growth, while American's are still very much in healing mode. So, I can only speak from personal experience when it comes to setting a price. If you are service based, then your testing and measuring will be a little different from how one who test their price point online. I have a couple of strategies to share. If you are a serviced based business, let's say, a marketing consultant, then you can do two immediate things to gage your market. One, is call your competition. Mystery shopping is not a new concept, but if you want to gage a price-point, making a few calls won't hurt. We get calls from other public speaking companies all the time who are trying to gage our price-point. The other thing you can do is set your own pace in terms of price-point. For example, when we started our internet marketing trainings, we started a one-day intensive at $147. Four years later, our 3-Day Internet Marketing Intensives start at $3997.00. The market can easily bare that price, and we found our sales went up when we valued our courses at a higher rate. Our competition in the Britich Columbia area started at a 10K price point and delivered huge binders of material. We knew our clients didn't have time to go through a university type training, they wanted real-world results immediately. So, without having the costs of printing tons of product, we could afford to offer our courses at half the cost. They are out of business, and we've experience a 400% growth. For our online material, we test the market through a series of ad campaigns on facebook, linkedin and google. We will have the same product on differnt landing pages, with different headlines and pricepoints. After some analysis, when we find a winner, we take off all of the 50 other ads, and run with one. In our live seminars, we start by testing reaction to a new training at a low-risk price-point. When demand is up, our price increases. Sold Out trainings, such as our social media, indicates the market can bare a greater cost. Therefore, you can price your competition. If you add more value, you can increase your price. Most marketing consultants must be able to answer some hard questions on internet marketing, social media, email campaigns, conversions, analytics, and so on. Increase your knowledge base, increase your price. At the end of the day, simple economics apply. It's all about supply and demand, and the value you bring to the customer. However, if you unsure about what to charge a client, always ask your prospect "What budget have you put aside to market?" Once they commit to a price range, you now have something to work with.

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Article Tags: charge, consultant, fees, marketing services, set price



Related Forum Posts
Seminar attendance - I read through most of these posts and the first thought that popped into my head Andy already posted. Charge a fee to register, that will be refundable at the end of the seminar. This will ensure they show up and STAY for it.
Re: The Mobile Marketing - Mobile Marketing involves communicating with the consumer via cellular (or mobile) device, either to send a simple marketing message, to introduce them to a new audience participation-based campaign or to allow them to visit a mobile website. Some of the tools of the trade and a few of the concepts that will be featured in this Mobile Marketing 101 series are: Multimedia Messaging Services (MMS) Unstructured Supplementary Service Data (USSD) Bluetooth, Wireless and Infrared Mobile Internet and Social Media Mobile Applications Mobile connectivity not only enables people to connect to the Internet via a cellular telephone, PDA or other gadget, but also consolidates the different communication channels in a simple, yet effective, medium. Cheaper than traditional means for both the consumer and the marketer - and easy enough for almost any age group to understand and engage with - Mobile Marketing really is a streamlined version of traditional eMarketing.
Re: Newbi here - thanks for your responses guys.. I really appreciate it. Well, I have learned from realhomebasedsuccess dot com that there are home based business opportunities and ideas that could be our option such as: -Selling Goods or Providing Services Online -Making Money through Direct Marketing -Becoming an Affiliate Marketer -Getting Paid on a Click Thru but I was thinking which is the best one and most effective in terms of generating consistent Ongoing Profits. What do you think? do you have any insights?
Offer Credit instead - I'm not sure if ChrisH was referring to this but i'll state it more expicitly .. Charge upfront and offer a refund of double the value back in "Credit" towards your Product or Service you have for sale at the end of the event.
Help me name my moms business - I think Infinity Cleaning Services sounds better than Elite Cleaning Solutions... Why the Solutions? What is there to be solved? You simply get a rag with some Windex on it and wipe away.... plug the vacuum and Vac Away, get a mop and mop away. Stick to Infinity Cleaning Services... ICS sounds cool...


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