Week 8 meeting

Week 8

·         Look at 10 Questions for Report

·         Look through and sort/ insert reference files and sources i.e. NESTA, worksheets, project 1, session notes, knowing and growing etc.

·         Look at reading list

·         Talk to friends and family and respond to any outstanding issues or questions.

·         Start draft

Customer and Marketing

·         Do Primary research

o    Small print shops

o    Local craft shops

o    Bridal forums

·         Market research

o    How to target a specific customer?

o    Marketing companies and budgets

§  http://marketingteacher.com/lesson-store/lesson-marketing-budget.html

§  http://www.entrepreneur.com/article/205412

Outstanding costs and research

·         Excel document

·         PR Agencies

·         http://www.resourcenation.com/buyers-guides/buyer-guide-public-relation-services/pr-services-costs-and-billing-options

• Public Relations Options
• PR Services Costs and Billing Options
• Expert Tips to Consider When Selecting a PR Provider:
• Benefits of a Good PR Firm

PR Services Costs and Billing Options

Buyer Guide to Public Relation Services

PR services are an art form and like art, the perceived value varies and there is no true standardized cost. Aside from perceived value, there are two other things that factor into the price of hiring a PR consultant: the geographic location of the project and who is hired. Costs vary per city; the costs of PR services in Bakersfield, CA differ greatly from Boston, MA. Although a large PR agency may seem as though it will be more expensive than a freelancer or in-house team, it is not so clearly cut.

Here is a breakdown of sample pricing per hour for Freelancers, In-house teams and Agencies:

Freelancer: $25 to $125/hr

In-House Team: This is a salaried position that ranges from $30,000 to $80,000+

Agency: $60 to $250/hr

In the long run, an in-house team may be more expensive because of the overhead costs with hiring a salaried person, but it all depends on your company needs.

Billing Options:

There are a variety of different ways that outsourced public relations agencies or freelancers bill their clients:

1. A base fee with an hourly or project rate plus any out-of-pocket expenses

2. Hourly/per project billing plus out of pocket expenses

3. Fees for a particular amount of time worked plus extra hours at an hourly rate and out-of-pocket expenses

4. Flat fee for all time plus out-of-pocket expenses

5. Pay for performance is a newer model used by agencies where they only get paid once results have been achieved. (This is not a common billing model.)

*Out-of-pocket expenses can be charged either at cost or with agency markup.

Public relations is considered a service rendered. Therein, charges are not based on quantity of press releases produced, or number of e-mail marketing campaigns, but rather on the time and effort placed into crafted the material. Each PR option has its advantages and disadvantages, and it can be difficult to know which to select. Starting off with an agency or a freelancer may help your company understand what its PR needs are, the amount of time it will take to complete particular projects and what future PR goals may be. Being able to answer these questions will help you determine if hiring an in-house team or outsourcing the work to a marketing firm is more cost effective.

·         Web designer quote

o    Function of website

o    Database needed?

o    Registration?

·         http://www.toucher.co.uk/website-price.htm#websiteprices

·         1. Single Page Business Card Type Website
Most businesses now recognise that they need a web address. But some businesses are not ready for a full website or they have no real content to place there. In this situation I can create a single page website, with some information about what you do and your full contact details, including an email link.
Single Page website price from £250.

·         (Note that the cost of a website is not proportionate to the number of pages required. A single page website still requires layout and graphic design. Developing the standard "look" and the graphics for a single page can take as long as it does for 100 pages).

·         2. Four or Five Web Pages in an Online Brochure Format where the material is supplied by you and no interactivity is involved.

·         This is a basic website with four or five pages such as home page, about us, products, contact details, enquiry form, etc, where you provide the required content and no consultancy is involved. We can design a suitable masthead in this and source some images for you.

·         Four or Five Page website price will cost about £350 - £450. If you require search engine optimisation (SEO) add about £50 - £100. If you need us to help you define your requirements this may also add to the cost.

·         3. Ready Made Website. We have an offer on a nice, ready made website with six pages. This lets you know exactly what you are getting and how much you will be paying. Ready Made Website details >

·         4. Approximately Ten Web Pages on a Small or Medium Business Website

·         This would be as in (2) with a few more pages illustrating products and services and perhaps including portfolio or testimonial details. If required it would also include an online enquiry form asking the questions you specify to help generate business. Keyword Research and Search Engine Optimisation would be included.

·         Ten Page website price will be from £550 - £800.

·         5. Basic Ecommerce Website with Approximately Ten Pages
Perhaps you require a site like the above but you also need to sell a single item or very small number of items online using Paypal or a similar payment processing service? Or perhaps you need to take variable payments online for services you provide?

·         Ten Page website price with some ecommerce functionality will be from £600.00 to £900.

·         6. Full Ecommerce Website with Admin Area
We can Design a full Ecommerce site with shopping cart setup to to take online credit card payments. This can include a user friendly website administration area that will allow you to input your own stock, change prices, etc. The admin area is accessible online via a user ID and password.

·         Shopping Cart and Ecommerce website price will be from £1000.00 to about £2500 with our standard solution coming in at £1200. This would normally include some search engine optimisation.

·         7. Content Managed Website Component (CMS)
If required we can make your website user updateable with a website content management system (CMS). You can then make your own website updates and change your website content on a daily basis if necessary.
Full Website Content Management System add £200.

·         8. Interactive Websites, Forums, Membership, Employment and Estate Agencies, Subscription Websites, etc.
We cannot really put an estimated price on websites like these since complex features are often requested that can make the cost of one significantly more than another. All we can say is that most of them would probably be in the range of £1000 to £2000.

o     

o    One.com

§  http://www.one.com/en/

o    Hosting/ admin costs

·         Affiliate window

§  https://www.affiliatewindow.com/about_us.php#mission_statement

o    Our Mission Statement

o    "Enabling partnerships with an accountable, transparent and ethical marketing solution that adds to the consumer’s online experience, and a work environment that is both challenging and rewarding to all" - Kevin Brown, CEO

o    Our Ethos

• Service
• Ethics
• Technology
• Performance
• Innovation

·         Google/ advertising income?

o    Specific advertising to specific people

·         Funding?

o    Grant?

o    Loans

o    Repayment/ interest?

o    http://www.j4b.co.uk/

o    Business grants

§  http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1073858790

o    Business loans from banks

§  http://www.barclays.co.uk/Businesslending/ThePrincesTrustLoan/P1242559057322

• A business start-up loan of between £500 and £5,000
• Choice of repayment terms – from one to three years
• Free assistance from The Prince's Trust to help you write your business plan
• An optional six-month repayment holiday at the beginning of your business start-up loan (interest will continue to accrue over this time and will be payable in future repayments)
• Fixed interest rates make it easier to manage your cashflow
• No early repayment fee
• Ongoing support from The Prince's Trust and Barclays once you've received your business start-up loan
• Free business banking initially to help you get started

o    funding from peers

§  http://www.fundingcircle.com/borrow/business-loans/

o    Lottery and community projects

§  http://www.biglotteryfund.org.uk/funding-uk

• A business start-up loan of between £500 and £5,000
• Choice of repayment terms – from one to three years
• Free assistance from The Prince's Trust to help you write your business plan
• An optional six-month repayment holiday at the beginning of your business start-up loan (interest will continue to accrue over this time and will be payable in future repayments)
• Fixed interest rates make it easier to manage your cashflow
• No early repayment fee
• Ongoing support from The Prince's Trust and Barclays once you've received your business start-up loan
• Free business banking initially to help you get started
• A business start-up loan of between £500 and £5,000
• Choice of repayment terms – from one to three years
• Free assistance from The Prince's Trust to help you write your business plan
• An optional six-month repayment holiday at the beginning of your business start-up loan (interest will continue to accrue over this time and will be payable in future repayments)
• Fixed interest rates make it easier to manage your cashflow
• No early repayment fee
• Ongoing support from The Prince's Trust and Barclays once you've received your business start-up loan
• Free business banking initially to help you get started
• A business start-up loan of between £500 and £5,000
• Choice of repayment terms – from one to three years
• Free assistance from The Prince's Trust to help you write your business plan
• An optional six-month repayment holiday at the beginning of your business start-up loan (interest will continue to accrue over this time and will be payable in future repayments)
• Fixed interest rates make it easier to manage your cashflow
• No early repayment fee
• Ongoing support from The Prince's Trust and Barclays once you've received your business start-up loan
• Free business banking initially to help you get started
• A business start-up loan of between £500 and £5,000
• Choice of repayment terms – from one to three years
• Free assistance from The Prince's Trust to help you write your business plan
• An optional six-month repayment holiday at the beginning of your business start-up loan (interest will continue to accrue over this time and will be payable in future repayments)
• Fixed interest rates make it easier to manage your cashflow
• No early repayment fee
• Ongoing support from The Prince's Trust and Barclays once you've received your business start-up loan
• Free business banking initially to help you get started

Advertising

·         How to gain customers through originality?

o    Mood magazine

o    Exclusivity

·         Think beyond a sale, consider the existing customers

·         Competitive advantage

·         Google/ advertising income?

o    Specific advertising to specific people

·         https://accounts.google.com/ServiceLogin?service=adwords&cd=GB&hl=en_GB&ltmpl=regionalc&passive=false&ifr=false&alwf=true&continue=https://adwords.google.co.uk/um/gaiaauth?apt%3DNone%26ltmpl%3Dregionalc&error=newacct&sacu=1

·         Google AdWords offers you:

·         Targeted reach

·         Now you can advertise to people searching on Google. Even if you already appear in Google's search results, AdWords can help you target new audiences on Google and our advertising network.

·         Greater control

·         You can edit your ads and adjust your budget until you get the results that you want. You can also display a variety of ad formats and even target your ads to specific languages and geographic locations.

·         Measurable value

·         There's no minimum spending requirement or time commitment. And with the cost-per-click option, you're only charged if people click your ads. This means that every pound of your budget goes towards bringing new prospects to you.

·         Set your budget

·         There's no minimum spending requirement – the amount that you pay for AdWords is up to you. You can, for instance, set a daily budget of five dollars and a maximum cost of ten cents for each click on your ad.

·         Avoid guesswork

·         We provide keyword traffic and cost estimates so that you can make informed decisions about choosing keywords and maximising your budget. (Estimate keyword costs)

·         Pay only for results

·         You're charged only if someone clicks your ad, not when your ad is displayed.

·         Payment options vary by country and currency. Learn more

Visuals

·         Research Brands

·         Refer to images cleanly and clearly in the appendix

·         Visual modelling: shop, web etc

·         Prototyping: cover, inside layout, shop interior, website and blog

·         Packaging

·         Business cards

·         Stationary

·         Name the business

·         Logo

Growing and other issues

·         Environment conscious

·         Recycled paper, magazine, dresses, etc

·         http://www.google.co.uk/#q=recycled+paper+printing&hl=en&prmd=imvns&source=lnt&tbs=ctr:countryUK%7CcountryGB&cr=countryUK%7CcountryGB&sa=X&ei=63PCTov0LoWW8QOo-qS_BA&sqi=2&ved=0CF0QpwUoAQ&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=d1e017030f2793b2&biw=1280&bih=899

·         Grow: geographically, partners, new branches within the business

·         Barriers to overcome to succeed: funding?

·         J4B.org

Case study: Rapit

What people are paying for?

Making income

What am I offering?

At what point am I generating income?

Services sign up

Don’t do anything for nothing, people don’t expect it