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Originally Posted by Ricky Breslin A royalty is like a roomate that will never leave. Clayton would make a lot of money for that person if they were on royalties or not, it's still his work.
What a lot of copywriters like to do is put in the mind of the prospect that when the prospect pays a royalty, it makes the copywriter "work harder" because now they are "invested" in the project.
If they were worth a crap in the first place they should be "invested" in the first place. That's what quality PEOPLE do, take pride in whatever they do.
I've heard this a lot from copywriters, even high dollars ones from this board. It's BS and for the consumer, it's a ripoff.
The royalty ONLY favors one person, the copywriter.
If the copywriter needs the royalty to "give more effort" I would hate to work with that copywriter. I write most of my own stuff and usually pay for critiques but sometimes I'll have someone write a piece for me if I dont' feel like it.
When I have someone write for me, the last thing I'm thinking about is paying them every single freakin' month FOREVER. It's a terrible deal.
I recommend everybody on this board RUN, not walk away from royalties. There's a million copywriters out there who will put their whole heart into a project and do their absolute best without a royalty. |
I respectfully disagree.
My two cents: This kind of thinking pretty much guarantees you'll spend the rest of your life working with third-rate writers ... wasting months every year on drafts you wouldn't have to slave over if you'd hired a better writer in the first place ... and of course, still getting third-rate response, average sale and profits.
It doesn't matter whether or not a writer puts his or her "whole heart" into a project. Like they say, "The road to hell is paved with bricks of good intentions." All that matters is response rate, average sale and return on investment.
Let's say you plan to spend a half-million smackers to mail a million DM packages. Who would you rather hire? A copywriter who'll put his "whole heart" into your promotion? ... Or a proven master writer who has produced one out-of-the-park grand slam after another for decades?
With a half-million on the line, the 5% or 10% royalty a top writer will charge is cheap risk insurance.
And when you consider that a successful promotion has the potential to bring you millions or even tens of millions of dollars in profits -- and that top writers who charge royalties routinely produce 50% ... 100% up to 300% greater returns (sometimes more) than fee-only writers ... leaving those profits on the table to avoid a 10% royalty is illogical. Kind of like trying to get rich by buying $10 bills for $50 apiece.
On the net, where promos don't cost much, you're not risking much on each promo, so risk-reduction is less of an issue. And since you never see the profits a cheap writer never earned you, you may think they don't exist. You don't see the millions you're leaving on the table, so it's easy to pretend you picked the table clean.
That can be a costly illusion.
That's why the most successful companies in our industry pay royalties: To reduce their marketing risk and to increase their profit potential.
Is it possible to get a writer who'll slash your marketing risk and maximize your profits without paying a royalty? Sure.
In fact, just the other day, a prospective client asked me to write a promotion for him on a flat-fee basis. "Sure," I said. My fee is $300,000 -- cash on the barrelhead. After thinking about it for a nanosecond, he decided my 10% royalty was the deal of the century.
Companies that pay royalties don't do it to incentivize us to work harder. They do it because it's the only way to get proven writers to work for them instead of the competition.
Consider face-to-face salespeople. Typically, you hire newbies on salary -- a flat fee to get them started. But when they begin producing, you give them a share of what they produce: A commission.
Copywriters -- salespeople in print -- deserve a commission on what we produce, too.
Hope this helps ...