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 Insider Tips - 24 The absolute toughest work in the freelance communications business is assigning fees to projects, especially for those who are just starting out in their own business. How does one judge the financial arrangements is a question we've been asked frequently, especially by students. It's hard to gauge especially since it's really "not on" to ask your closest competitor! There are situations where you'll have to work your contacts endlessly, in person and by phone, and if the timing is wrong, you won't land much in the way of positive press despite spending a lot of hours on the job. Other times, a single phone call will land you a major cover story, if the winds and the client's salient points are all in your favour. So, if you're billing by the hour, scenario number two isn't going to net you much money. Then again, spending lots of hours, with little to show for it, isn't going to make your client very happy. You may get paid but there will be little chance of repeat business. Your track record will dictate fees to a large extent, and that doesn't necessarily mean time spent in the business. It means results, just like any other business. You can calculate the value of "earned media" by comparing the space your story occupies to its cost if your client had to buy the same number of lines or minutes in the form of advertising. The value of "earned media" is significantly greater than paid advertising since publicity is accepted by readers/viewers/listeners as a third-party endorsement. Ads are sales tools; media coverage is objective and has no underlying motive, from the consumer's perspective.
Contact Davidson Communications for any help you may need in writing and releasing news or statements, and for appropriate follow-up. |
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 INSIDER TIPS - 24 |
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