Bidding Prices Should Include Time Spent Working With The ClientAugust 9, 2023
Bidding Prices should incorporate the real cost of the time-consuming back-and-forth process because your business time = money. Just as we charge for the equipment you own, the same goes for managing your time.
Value your time in the bidding process. Part of the bid that is often overlooked is the time spent negotiating with clients and managing their expectations. While this time may not be explicitly spelled out in the bid, it is important to factor it into the overall cost of the project. We recommend adding this time to the creative fee, prep days, or production fee to ensure that it is covered. By doing so, we ensure that we are compensated for the time spent on client management, which can be a significant portion of the project. Ultimately, the goal is to have a bid that accurately reflects the time and effort required for the project, including the time spent managing the client.