Compare the Bottom Line
3 Actual Bids Side by Side
A prospective client, sent us bids they received and asked us to help them understand the significant difference in bottom line price.
BOTTOM LINE DIFFERENCE
The bid was for 250 participants. The analysis is based on 200 completes. All the bids were for the same specifications. The True Cost differences were stunning:
How to Calculate the True Cost
As we reviewed bids, we found many different charges, frankly it was very confusing, so we took the final project cost and divided it by the number of participants to come up with a true cost. Here’s our formula:
Task Fees + Participant Fees + Time Fees + Penalties = True Survey Cost
We analyzed bids from more vendors and realized someone needed to make sense of all the different kind of fees. We organized the fees into categories. Each category impacts your budget differently. No matter how it’s worded… (We charge the two underlined fees.) To see how each specific fee may impact you, mouse over the item or view as list.
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People InvitedLicenseMissed Volume
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CustomizationSubscriptionData Access & Ownership
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On-boardingRaters RespondedHourly Customization“Use It Or Lose It” Prepays
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Additional FeaturesHourly Project ManagementContract Termination
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Client Admin AccessMaintenanceVolume Discount Resets
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Project ManagementReactivation
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Enhanced Service Levels
Here’s how each fee category may impact your budget:
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Task – one time fee for a specific task; adds predictability to your budget.
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Participant – variable fee tied to the number surveys participants; can cost you additional money if it includes people that do not complete their survey.
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Time – repeating fee that shifts the vendor’s risk to you. If you don’t use their service, you still pay. If they underestimate their time requirements, you pay the extra cost.
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Penalty – exception fee, charged when expectations are not met; upsets your budget by adding surprises to the final bill.
Knowing how the fees impact your budget will help you accurately compare bids.
Take a look at, the fees we charge..
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We analyzed competing bids and discovered 3 tactics -- deal busters for any 360 survey. Get the analysis now:
