Hola Fastlaners,
Over the last few days I've had a great conversation with some of you around freelancing and increasing revenue. On the back of that thread I wanted to start a new conversation around the topic of royalites.
Over the last few years I've been freelancing (failry successful). In order to take revenue to the next level, I'm looking at trying to secure some royalty deals with clients. I'm a direct response copywriter and most of my work is designing & creating adverts. Roaylties are common in this industry but it's completely new to me so I'm looking for advice from people who have successfully done this in the past.
For example:
• How do you structure the royalty? (flat fee + a percentage or just percentage of profit etc).
• Do you have a contract in place?
• How long do you earn royalites for? (forever, or fixed time).
• How do you ensure client payment (especially if you can't see performance metrics)?
I'm sure there's a lot more questions but I'm not so much looking for one particular answer, just some insights into royalites from those who have experience in this area. Doesn't have to be copywriting related, can be from any industry or skillset.
Also any mistakes you've made or traps to avoid.
Cheers all,
Robbie
Over the last few days I've had a great conversation with some of you around freelancing and increasing revenue. On the back of that thread I wanted to start a new conversation around the topic of royalites.
Over the last few years I've been freelancing (failry successful). In order to take revenue to the next level, I'm looking at trying to secure some royalty deals with clients. I'm a direct response copywriter and most of my work is designing & creating adverts. Roaylties are common in this industry but it's completely new to me so I'm looking for advice from people who have successfully done this in the past.
For example:
• How do you structure the royalty? (flat fee + a percentage or just percentage of profit etc).
• Do you have a contract in place?
• How long do you earn royalites for? (forever, or fixed time).
• How do you ensure client payment (especially if you can't see performance metrics)?
I'm sure there's a lot more questions but I'm not so much looking for one particular answer, just some insights into royalites from those who have experience in this area. Doesn't have to be copywriting related, can be from any industry or skillset.
Also any mistakes you've made or traps to avoid.
Cheers all,
Robbie
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