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The Futur with Chris Do
292 - The End of the Billable Hour - With Tim Williams
May 22, 2024
Tim Williams of Ignition Consulting Group discusses the flaws of hourly billing and promotes value-based pricing. He advocates for agencies to innovate with a product mindset and partner with brands. Williams emphasizes the shift from traditional billing to pricing based on value delivered, not hours worked.
59:10
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Quick takeaways
- Transition from hourly billing to value-based pricing is crucial for agency success.
- Breaking away from traditional hourly rate models is imperative for agency competitiveness.
Deep dives
Transitioning from Hourly Billing to Value-Based Pricing
Agencies are trapped in the hourly rate treadmill, a model inherited from the past, lacking a focus on value-based pricing. The historical shift from full-service agencies to specialized disciplines has led to agencies struggling to adapt their compensation model. The podcast emphasizes the importance of migrating towards a value-based pricing approach to address the shortcomings of the current hourly rate model.
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