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Prepaying a budget for fixed-fee services?
I have a fixed fee services question for the group. If you offer fixed fee services, do you let your clients pre-purchase a budget in advance? We have a fixed fee services menu and a client that wants to use leftover 2020 budget to pre-pay for $20,000 in Creative & Educational services to be called upon ad-hoc in CY ’21.
Would you recommend facilitating something like this?
If you do do anything like this, would you be able to share any of the following:
- Who on your team owns the budget throughout the year and keeping track of what was delivered? Would it be the CSM/Account Manager, a resource on the services delivery team or someone else?
- How do you recognize the revenue? As the services are delivered or $20K evenly across 12 months?
- How do you in-take the service requests (since they're not triggered by an SOW closed won)?
- If you use a PSA, would you setup a program to oversee the individual projects?