Beware the Marketer who wants 100% payment upfront
It’s rare for any professional -whether it is a solicitor, a graphic designer or a car mechanic -to ask you for payment upfront in full. There is simply no reason why anyone should have to do this when they haven’t seen any work.
Many business owners who have not been through the process of hiring professional marketing advice before may be tricked by fakes into believing that upfront payment is commonplace. I am here to tell you that it is most definitely not and there is no reason a marketing consultant should ask you to pay 100% upfront. What’s more, you should never have to agree to sign a long-term contract or sign over copyright.
What are the implications of these things?
Signing contracts or paying 100% upfront, it means that you are locked in to their services and completely trapped.
Fake marketers who receive payment in full before doing the job have no motivation to see it out. They may put no effort into their strategy or even disappear before the job is complete.
Long-term contracts mean the marketer is relying on a legal obligations, rather than their skills, to keep you as a client.
Signing over copyright may not seem like a big deal now, but if you wish to sell or franchise in the future, copyright is crucial and you could risk losing a lot of time, money, and effort trying to work it out.
It’s simply not work the risk.
How do I handle a marketer who asks too much of me?
If any of these things come up in the initial meeting, I would suggest walking away. Payment will, of course, be discussed, but long-term contracts, pre-payment, and signing over of copyright are all alarm bells warning you of an untrustworthy marketer.
Beware of the bargain bin Marketing Consultant
Above, I discussed the danger of signing a long-term contract, signing over copyright or pre-paying in full. Now, in this, my last post in this series, I want to discuss the opposite – the marketer who uses bargain prices, rather than skills, to draw you in.
You get what you pay for when it comes to marketing. Creating a successful marketing plan, and on that is going to draw profits, takes time and energy. The competition needs to be analysed, industry research performed, communication should be constant, and a strategy should be created, reviewed, and finalised. Each of these steps is as important as the last, and for a marketer to create a strategy that is going to work for your business specifically they are going to need time and money.
How are Marketing Consultants paid?
Generally marketers are paid either a flat rate for a range of services agreed upon in the initial meetings or on an hourly rate.
Either way, there is no reason for specials to exist in marketing. Why would a marketer’s rate be marked down? If a marketing consultant is offering a bargain price, it is likely the strategy they offer you is one that is rehashed from an old plan. I cannot stress enough how vital it is to have a plan that caters to your business specifically and your target audience.
Don’t be tempted…
It is tempting to just go with a bargain bin marketer to cut costs, but so often businesses who do this wind up hiring another marketer down the track and essentially paying double what they would have otherwise.
In time, your marketing will pay for itself if it is successful. Hiring an excellent marketer who costs a little more could see you paying for your marketing ten times rather than just once.
Remember, pay peanuts, and get monkeys. Marketing is an area well worth investing in and a good plan can last you a long time.
That concludes my series on the Fake Marketer. Beware of these types and if you want an easy reference guide to keep by your side when choosing a marketer, I suggest you download my eBook, Beware of the Fake Marketer, in which I not only give examples of each of these marketers but also have a quick and easy checklist that can be used when choosing a marketer.