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Fees and Pricing Benchmark Report: Marketing, Advertising and PR Industry 2008
Rain Group, Aug 2008, Pages: 73
Pricing in the marketing, advertising, and PR industry: How do you compare?
A key element of growing your marketing, advertising, and PR firm is keeping ever-vigilant watch over your competition...who are they? What space do they occupy? Why do they attract – and retain – the same clients you aggressively pursue? What marketing and sales strategies do you need to put in place to guard against competitive inroads and help secure a profitable, leadership position?
The bedrock of competitive analysis includes having a solid grasp of competitor sales and marketing practices, especially the fee structures, discounting guidelines, pricing approaches, and overall pricing models that can spell the difference between champion players and the also-rans.
With the Fees and Pricing Benchmark Report, you will learn exactly what the pricing landscape looks like in the marketing, advertising, and PR field, including:
- Does brand affect pricing?
- How often do firms discount their fees? How much of a discount is offered?
- What are the most important factors firms consider when pricing marketing, advertising, and PR services?
- What pricing strategies are most commonly used? Is the billable hour really dead?
- Are service guarantees being used? What do these guarantees cover?
- What do the firms that are premium priced do differently than the rest? Which strategies do they use more and less often? What factors do they consider important when pricing?
- What factors influenced price increases and decreases over the past two years?
Plus, this research provides a median hourly rate index by level of professional:
- Highest-level professionals (principal, senior partner, C-level managers, etc.)
- Upper-level professionals (VPs, newer partner, etc.)
- Advanced-level professionals (directors, experienced professionals)
- Mid-level professionals (managers, several years of experience, post-MBA, etc.)
- Entry-level professionals (new associates)
The Fees and Pricing Benchmark Report will allow you to measure your pricing strategies against the competition and determine if, and where, you may be leaving money on the table.
It will also provide keen insight into what the leaders in your industry are doing differently to stay ahead in a crowded market space.
The report includes special attention, analysis, and commentary for the following subsets of firms:
- Premium-price firms: Those firms who charge higher fees than the rest
- Profit leaders: Those firms who report higher profits than the rest
- Brand leaders: Those firms who are better known
- Price increases: Those firms who have increased their prices over the last two years
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