Opinion: From our readers - Get fees right and the rest will follow

Your article 'Recession: cash flow pain worsens' (Ian Monk, 31 October) is a critical read for small-to-medium-sized PR agencies.

I am advising my clients that what they can measure, they can manage, and that staff performance and fee-to-service level ratios are two of the most important insights into the financial stability of the business.

With any fee-based business, it is essential that fees are set at the right level to cover expenses and create a reasonable profit.

While managers have a feel for who is busy and who is not, empirical evidence, such as time sheets, can be used to increase fees where you can show the value of the work.

Cliff Crown, head of Vantis' media group

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.