Sozo Firm Inc slashed its rates today almost fully across the board in response to the very weak economy. Hourly rates have dropped twice in the past 60 days from a recent high of $195 per hour in December 2008 to the current rate of $120 per hour. The monthly minimum to secure a discounted hourly rate fell to $1100 ($110/hour) and the hourly rate for 6 month & 12 month contracts fell to $100/hour.
“It took a while for us to be affected,” Andrew Jensen, CEO of Sozo Firm said. “But client after client began pulling back with their marketing budgets, and, sooner than we expected, the recession began taking a toll on our client portfolio. People are getting desperate, and companies–even those not yet affected–are making cuts in every room possible.”
Sozo Firm has put on hold its marketing internship program which it offers local highschoolers and college students until the economy turns around and business as normal resumes. Two open positions (a graphic designer and a junior internet marketing consultant) are also being placed on hold until the economy picks back up.
“We’ve got to brace ourselves for the long haul,” a Sozo Firm representative stated. “Right now, most clients are assuming that this trench will only get deeper, that there won’t be any surfacing until early 2010.”
To maintain competitiveness in a weakening economy, the Sozo Firm board of directors decided to follow through with the significant rate cuts.
“While some marketing firms would look down on us as “going cheap,” Andrew said, “I believe this is the appropriate response to other businesses who need our services more than ever. We’ll still be offering the same quality – no outsourcing to overseas shady firms – and the same guarantee. We’ll stand behind our services all the way. Customer service and accessibility will continue staying on top where they always have been. While we have made cutbacks with our own staff and hours, our service will continue the same quality it’s always had.”
