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@WeArePR @MikeSchaffer Yep!
1 year, 6 months ago on Performance-Based Pricing in a Billable Hours Industry
@thejoshuawilner Agree with you there. It's why we do as much due diligence on our prospects as they're doing on us. For every one we take on, we decline two.
@MikeSchaffer Good points. Performance-based PR firms like ours need to pick our clients carefully to make sure they are ones in which we firmly believe we can drive results. For every client we take on, we usually turn down two.
@thejoshuawilner Time is cheap if it doesn't product results.
@Dan Gershenson Dan, good points, and it absolutely must be spelled out before engaging. But doing so shows the difference between a PR flack and trusted business advisor, to which I hope all of us in the Marketing and PR field strive to be.
@ginidietrich We got paid by the press coverage, but tracked the results from it. In some cases, we will offer to take our fee on donations received but that's if we run the entire campaign soup to nuts. We can also lower the press coverage fees and spread the monies across other things like increased web traffic, social media followers, attendees at an event and so forth. Bottom line - we look to be paid by a measurable result and not a factor of time. It's a business model that I'm convinced will be the dominant standard for PR and marketing firms within the next decade.
Take a look at us. We've been doing it for six years. http://www.stalwartcom.com. We've also got another site to promote the idea to other PR firms http://payonperformance.com