For example, let’s suppose you are planning to purchase media training for two executives, who have committed to a three hour session (a half day). You’ve done your due diligence and you’ve narrowed your choice to two potential media training consultants.
In the first consultant’s proposal, which charges a fee of $2,500, each executive will be interviewed twice (four practice interviews in total). In that situation, the cost per practice interview is $625:
$2,500 ÷ 4 = $625
Your second consultant’s proposal also charges $2,500. However, the second consultant commits to eight interviews (four for each executive) during the same three-hour time frame. Each executive has twice as many opportunities to practice their skills is a safe, controlled environment (as opposed to doing their third interview with a real journalist in the real world).
The cost per practice interview is $312.50:
$2,500 ÷ 8 = $312.50
Let’s look at another example.
Suppose you are preparing to organize a full-day session for six people, for which each consultant is planning to charge $3,500. Again, the first consultant plans to interview each person twice, for a cost of $291.67 per practice interview:
$3,500 ÷ 12 = $291.67
The second consultant commits to interviewing each person four times, for a cost of $145.83 per interview (or twice the value):
$3,500 ÷ 24 = $145.83
Certainly there are differences in theory and approach in media training. Some executive teams might work better with one consultant over another.
But when you’ve narrowed the field and you’re seeking quotes, make sure you identify the commitment to a number of practice interviews.
Divide the total number of interviews into the number of dollars the training will cost, and compare the numbers.
If everything else is equal, the consultant with the lowest cost per practice interview provides the highest possible value.
And that consultant should be the one working with your spokespeople.