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| Offline Consultant War Room Member Join Date: Jul 2007 Location: Alberta, Canada
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hey guys, I'm just curious what the general consensus is when it comes to determining project timelines etc with clients. So far I've been doing two month initital project payments, with discussion on further payments after they see what I can do in 2 months. I've found this helps with the businesses I've dealt with in the fact most have had bad experiences in the past, and afraid of "long term contracts" with people they JUST met. (which is fair) Hence why I like to show some results in two months (mostly for low comp. keywords and building their list) to prove I can deliver on what I say. Now I'm wondering how most of you operate, do you prefer to sign a One Year initial contract for Offline consulting/SEO? Do you work on a month-to-month basis with an initial "setup" fee? etc. What do most the businesses you do with seem most comfortable with? I guess my biggest concern (I usually focus on higher end clientelle) is signing a 1 year contract for $$ dollars, and realizing after the fact that I should/could have charged $$$$ since I'm actually making the business $$$$$$$$ dollars! For example I just had a meeting yesterday with a very large Jewellery Store (their own massive building and 40,000 sq ft. showroom) and they have billboards, radio ads, and TV ads all over the City... did my offline powerpoint presentation with them and the head of marketing is completely on board, he said they realized there was a ton of potential money online but they just had no time or people to deal with it... He told me that timing is perfect because they decide in October how much they need for budgets in what departments etc (their fiscal year)... And then he asked me how much it'll cost for me to handle their online marketing! I told him I'd have to get back to him after we do the initial target market interview etc. He's looking for SEO (keywords for engagement rings, wedding rings, watches, etc.), Video marketing, twitter, etc etc. If you were in my boots, how much do you figure you'd toss out for an initial quote? To give you an idea, on my way home from that meeting I passed TWO of their billboards side by side that just had a picture of a model with a watch and the company's name... no website, phone number, nothing! Also how long of a contract would I go for on something like this...I wouldnt want to lock myself in to a one year contract and realize I could have charged more...I mean an average engagement ring is what.. $3,500? Right now they aren't even ranking on Google for anything! PS - He also wants me to take over the redesigning of their website! On one side I'd had to scare them away by giving them a really large quote amount, but at the same time, a Yellow Pages ad is $5,000 a month for a full page ad...and we as online marketers give them much more exposure and value then that...so if they multiple times that on billboards etc....I'd assume they'd be willing to devote quite the amount to online marketing exposure and list building with their website...yes/no? Thoughts? |
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| | #2 |
| ConsultingTycoon.com War Room Member Join Date: Apr 2007 Location: Vaucluse, Australia.
Posts: 2,343
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I usually work on a project-by-project basis, and try to keep the first one as short as possible. (Usually 1-2 months.) Mostly because at this stage neither of us wants to be tied into a long-term arrangement. I can then pick and choose the most profitable projects to work on (if I continue to work with them), and because each project is distinctly separate I can establish value for each one and charge accordingly. But I've got people in my program doing a 12-month "business building" program for clients where they lock in a monthly rate. Works great for them. You don't need many clients @ $5000 a month to make a decent income. |
| Thought About Offline Consulting? Fiona - $5,500 + $600/m 1st Week... Anthony - $7k + $594/m... Liz - $12k 1st Month... Rob - $7k + $800/ 1st Month... Scott - $45,000 in 3m... 20/yo Jock 6-Figure Client 2nd Month Don't you deserve the same unfair advantage? | |
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| | #3 | |
| Success Is Intentional War Room Member Join Date: Dec 2007 Location: , , .
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| Quote:
Chris Negro | |
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| | #4 | |
| ConsultingTycoon.com War Room Member Join Date: Apr 2007 Location: Vaucluse, Australia.
Posts: 2,343
Thanks: 98
Thanked 268 Times in 128 Posts
| Quote:
$10k + 15% for a specific project with $250,000 projected revenue is usually an easier sale than $5000 per month for "seo" services with no specific return in sight. And when you make someone $250k in 2 months it's usually pretty easy to sell them the next $25k project. Don't get me wrong, both ways can work extremely well. I just prefer working on a project basis. Suits my lifestyle better. | |
| Thought About Offline Consulting? Fiona - $5,500 + $600/m 1st Week... Anthony - $7k + $594/m... Liz - $12k 1st Month... Rob - $7k + $800/ 1st Month... Scott - $45,000 in 3m... 20/yo Jock 6-Figure Client 2nd Month Don't you deserve the same unfair advantage? | ||
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| | #5 |
| Advanced Warrior War Room Member Join Date: Dec 2008 Location: California
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I am in the middle of making this decision myself. One of my first clients was in a HUGELY competitive niche, and I still decided to take the SEO project on after making him well aware that this would have to be a long term commitment/process. Everything was fine until about 4 months in, he decided he wasn't seeing results quick enough I guess. After a month he started getting impressive results, and was very happy with the results. His leads were coming in consistently, but they were obviously only trickling in at first as I started maintaining some first page rankings. Just as I was sure he would start seeing some AWESOME results from my efforts, he put the project on hold. I can understand from a business perspective, and I know he was just about breaking even just from his conversions, but it just bugs me that right as the benefits REALLY start pouring in, he puts it on hold. The sad thing is, I'd imagine that he will make a tidy profit just reaping the previous few months rewards...BEFORE he calls me to get things going again. I can understand NOT wanting to sign long term contracts, but in reality, for SEO-related stuff, I now believe that you really need at least a 6 month commitment from your client. The thing is, as we all know...SEO basically has a snowball effect, and a client can essentially cancel on you....but still reap the rewards for months at a time. Now of course its great to help the business (thats the point isn't it?), but you need to take this into consideration when figuring out your fees. Not only that, but since any ethical SEO is going to only work with one particular company for a specific location...you really are missing out on a LOT of potential other income opportunities. Just my two cents. Jim |
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