Dear Sangeeta and other Members; In addition to what is listed below I think the reporting process (read: coverage report) to the Client can be enhanced ... Eg: Every week take the top 5 clips and ask Client to evaluate it on a scale of 1-5 and the score you get needs to be above a certain set average. Do the same process for all weeks in a month and at the end of that particular month add this qualitative score and average it: the score will be an indication of what Client thinks of the important clips Another report can be of important industry / competition news that appeared in a particlura week, triggers for the news, whether our Client was quoted or not, if listed then were inputs from our Client shared with the Target Public(s) and how did the stock perform ... similar such analysis can be compiled and shared with the Client. He will understand where he stood during the particular news / trigger Similar reports / charts / numbers can be customized and presented to Client with the monthly / quarter review: all this vis-a-vis the deliverables (already) set (will) help the Agency ask for a higher incentive / performence fee! Cheers Nikhil Lodaya
--- On Tue, 7/29/08, sangeeta irani <sangeeta_irani@rediffmail.com> wrote:
From: sangeeta irani <sangeeta_irani@rediffmail.com>
Subject: Re: Re: [Image_Management] Performance based fee
To: Image_Management@yahoogroups.com
Cc: "narendra None" <sunarendra@gmail.com>
Date: Tuesday, July 29, 2008, 4:50 PM
Dear Mr Narendra and Mr C J Singh thanks for the insight. Thanks to all the inputs that i have got from this forum.
The intention has been to ask a question - in advertsing the agency commission is no longer sacred...Are we also witnessing any change in PR...Just sitting in my agency I am but a frog in a well. My point was are things changing else where
What I have conluded is :
Lay down paramters on what is performance and review regularly
Basic fee is a must then comes a retainer- so I will not agree for any full risk/reward model.Which is what i think the client is trying !
Have arbritration process ready for smooth relationship - he wants to cut costs and I want to increase them!
Thanks all
Regards
Sangeeta Irani
On Tue, 29 Jul 2008 narendra None wrote :
>Hello,The profession of advertising has already successfully faced the issue
>of performance based fee.Perhaps we in PR are new to it.ITV in Britain was
>the first one to intriduce performance based fee to Tv progs,incentivising
>quality production that gels with audience.At one time DD in India had
>examined a similar proposal but gave it up.
>No remuneration can be totally based on performance. There has to be a basic
>retainer fee to cover basic resource deployment.
>The second parameter is output in terms of clippings,activites
>The third tier is outcome, sales,perception change ( initially client/agency
>arrive at indicators,such indicators at two levels,one at basic level and
>second at desirable level),costs saved (avoidance of crisis,and linking it
>to cost of a crisis).These are indicative.
>The problems arise from client's ignorance of PR and what it can achieve and
>cannot achive.Also clients reluctance to change but expecting others to
>change.
>It is wise to record clearly the performance parameters,client' s
>responsibilities, a well defined arbitration mechanism.
>Since the concept is new to PR and the profession is not well
>organised,there are serious problems faced by both agency and
>client.Narendra
>
>
>On 29/07/2008, sangeeta_irani <sangeeta_irani@ rediffmail. com> wrote:
> >
> > The time for review of a retainer arrived and I asked for an
> > increase for we had delivered. The client talked of performance
> > based fee.
> >
> > I have checked with a few Pr friends and only one had heard of an
> > incentive - but that was over and above the basic retainer.
> >
> > Has any one heard of performance based fee system only - no
> > retainer ? If yes some questions ?
> >
> > What is performance ? The 250 clips and the 400 internet clips you
> > have for the year . The qualitative articles in ET, HT ,CNBC etc
> >
> > How do you quatity performance - vauation of clippings, cirrus score?
> > What if client is too small not even listed company - you know in
> > cirrus he may not get good scores inspite of the work you have put
> > in.And that fact that client has non-metro cities news.
> >
> > And just wondering if like Ekta Kapoor and Star Tv deal for Tv
> > shows - In Pr we have basic fee and extra fee. Star TV paid if
> > TVR's of serials increase. Except in our case what is the way we
> > judge the work?It's not as transparent or easy.
> >
> > Would appreciate inputs and also gyan - is this the trend any where ?
> > I have never ever heard of it- may just be a cost controlling
> > measure by client !
> >
> > Regards
> >
> > Sangeeta Irani
> >
> >
> >
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