What is a Marketing Consultant?
A marketing consultant is one who provides professional advice or service, usually to the management of a business or professional group. A consultant's credibility (and therefore, worth) is generally based on having attained extensive experience and proving ability to the point that he or she is considered an expert within a specific field.
How our consultancy relationship works:
As consultants, we are compensated by one or a combination of several ways:
A monthly or annual fee for general advice and counsel, based on the amount of time we believe will be involved in servicing an account in the manner and speed upon which we have agreed. For new clients, we generally set a fee for a minimum of six months, with a stipulation for review after that time.
A fixed fee is set prior to commencement of the project. There are no additional charges, provided the parameters of the project remain the same.
Time and Expense
Hours x Rate + Expenses = Compensation
Fee is set as a percentage of some value. (Example: 15 percent of placement value for an advertisement). Because we prefer to establish long-term relationships with our clients, we usually consult on a retainer basis. In addition, specific projects are undertaken as necessary for a per-project fee, and media placement (if appropriate) is billed at 15 percent.
Projects are always estimated and the cost agreed upon in advance of our commencement of any work.
We believe that this approach holds advantage for our clients as well as ourselves. In addition to financial arrangements being clearly understood by both parties, we are "on the team" at all times, and our clients have easier access to our advice and expertise.