Pay-on-Performance

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David Oates's Blog – April 2008 Archive (13)

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Publicis forms Pay-for-Performance division

Kudos to Publicis for joining the rest of us Pay-on-Performance PR and Marketing firms, albeit not within its core business. However, this does validate my publicly-held belief that such models will be the dominant standard in our industry within the next decade.



Within the year, the discussion will turn to standardize such practices. I hope this site leads that debate.…



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Added by David Oates on April 28, 2008 at 11:06pm — No Comments

Memo to Wal-Mart - DO THE MATH!

Wal-mart's lawsuit: legal, but wrong



"The retail giant's pursuit of funds paid to a severely injured former employee puts hardship on a family.



"Deborah Shank's story would have been sad enough, considering the devastating injuries she suffered in a traffic accident seven years ago. Nevertheless, Wal-Mart found a way to add a brutal coda.



"As chronicled in the Wall… Continue

Added by David Oates on April 25, 2008 at 6:20pm — No Comments

Recession - A Marketer's and Pay-on-Performance PR Agency's Best Friend

This is a great article with a great perspective on today's marketers not understanding what Hard Times really mean.



In addition to great products and industries, might I also add that I believe that PR firms that operate on Pay-on-Performance revenue models will see growth in the next 18 months instead of loss!



Recession Can Be a Marketer's Friend

Ad Age



Previous recessions have spawned… Continue

Added by David Oates on April 23, 2008 at 10:20pm — No Comments

Part V: Measuring the Value of Pay-on-Performance: Direct Marketing

This seems to me to be one marketing discipline that begs - if not demands - a Pay-on-Performance strategy. In fact, I know of no company doing this that doesn't measure the response and conversion, be it a mailer, Internet or social networking campaign.



But to make your numbers ring truest, marketers should ensure the following tenets are present:





* The targeted list is qualified and within the firm's demographic and psycho graphic base.





* You've… Continue

Added by David Oates on April 21, 2008 at 7:53pm — No Comments

Part IV: Measuring the value of Pay-on-Performance: Crisis Communications

All bets are off for Pay-on-Performance working in a crisis communications situation, right?



WRONG!



Typical goals of executing crisis communications plans usually include these elements:



- Reducing the amount of internal resources used to respond to queries



- Effectively getting the corporate message out in a timely manner



As such, agencies can show their effectiveness in meeting those goals on a quantitative level, such as where and when… Continue

Added by David Oates on April 18, 2008 at 12:00pm — No Comments

Part III: Measuring the value of Pay-on-Performance in Event Marketing/PR initiatives

This one is a no-brainer, right? I mean - event market on a Pay-on-Performance model.



Well.....yeah!



If the purpose is to draw qualified prospects - be they customers, investors, partners or other stakeholders - to an event, then the marketing and PR firms on record should hold themselves to a metric that aligns the consulting fees to doing just that. While I believe the hard dollars (costs of equipment, space rental, food, etc) should be paid by the client, the firm… Continue

Added by David Oates on April 16, 2008 at 10:30pm — No Comments

Forrester's "First Look" should be old hat to PR folks

I received this "First Look" e-mail from research analyst firm Forrester last week, noting that the economic downturn will require marketers of large companies to curtail their budget by 3%, or an average of approximately $2.5 million.



Jaap Favier, Vice President of Research Director for Forrester, noted that areas likely to get hit are branding, advertising and traditional media,… Continue

Added by David Oates on April 14, 2008 at 10:51am — No Comments

Why Pay-on-Performance will be the dominant revenue model

I've received a great deal of comments over the past year about Pay-on-Performance model. Some wholeheartedly agree in this revenue structure, while others...well...let's just say they thought I should apply for Mars citizenship.



While I sincerely appreciate all comments, here are some reasons why I firmly believe in this model, and why I'm convinced that it will evolve as the standard within the PR and Marketing industry:



1. Pay-on-Performance delivers new clients.… Continue

Added by David Oates on April 11, 2008 at 4:27pm — No Comments

Marketers: Be sure to read a PR agencies' pitch carefully

A client of mine got this unsolicited e-mail pitch from another PR agency this week (I've omitted the names to protect both the innocent and accused):

______________________________

Hi [CEO],



This is just a brief note to see how things are going on the PR front, and specifically to inquire whether you plan to review your PR resource in the near future.



As a brief introduction, [FIRM] is a tech-focused PR agency based in San Diego, with 31 wholly-owned offices… Continue

Added by David Oates on April 11, 2008 at 12:30pm — No Comments

Part II: Measuring the value of Pay-on-Performance - Media Relations

Many retainer-based PR firms today tell you the value of a well-placed article in a key publication is worth three times the rate charged to place a similarly-sized ad. Even if that's true (and I've yet to find an objective reference to back that up), I don't think that's good enough. While I agree agencies like mine that operate on a Pay-on-Performance model should tie their revenues to article placement, stopping there only measures part of the… Continue

Added by David Oates on April 10, 2008 at 9:00am — No Comments

Part I: How to measure value in the Pay-on-Performance model

Lately, I've been getting more questions about exactly how to measure value in a Pay-on-Performance model. This begs the question - is there a growing interest in my new type of PR services or am I not explaining it right?



Well, it's probably a bit of both. My firm, Stalwart Communications, now boasts a client base in the double digits after a little more than a year in operation, and its customers have certainly become partners by offering unsolicited testimonials and providing… Continue

Added by David Oates on April 8, 2008 at 5:30pm — No Comments

I hate the phrase "Taking It To The Next Level"

I was speaking to a marketing consultant (who I won't name) some time ago. She said that the focus of her agency is to "...find companies that want to get to the next level."



Man I hate that phrase!



Firms use this all the time without telling anyone what it really means. To me, it means a client's retainer just went up!



Marketing and PR firms need to stop throwing around buzzwords and start using quantitative stats - like "...we want companies that are… Continue

Added by David Oates on April 3, 2008 at 5:44pm — No Comments

Advertising equivalent rates vs. REAL returns

I was in a new business meeting some time ago, and the marketing communications people on the other side of table mentioned how difficult it is each month to justify the retainer payment they make to their PR agency with their CEO.



This is not surprising at all, given that a typical PR firm will only make a feeble attempt at providing an ROI is by tying the amount of press coverage to an advertising equivalent. Here's an example - let's say a PR firm got a wireless technology… Continue

Added by David Oates on April 1, 2008 at 7:42pm — No Comments

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