Expert network platforms hire individuals with particular expertise in various fields and connect them with clients who are looking to benefit from industry insights.
A typical one-hour call with an expert may cost up to US$1,200 while the expert is paid between US$100 and US$500 for this.
Different fee structures are applied in various expert network firms. Here are some examples:
Pay-as-you-Go/PAYG model – the client is charged for the time spent with the expert. This is best suited for those who will use expert services only on rare occasions. Since it is not particularly profitable for expert networks, this service is very often not available.
Subscription model – the structure most preferred by expert networks. The client and the network agree on a number of calls within a certain period of time. This model involves the possibility of certain discounts.
Paid trial – a way for the expert network client to test the services before starting a subscription.
Credit system – one credit is typically worth a one-hour call with an expert. This model can also be used for surveys, interpreters on a call or any additional charges.
Standard vs. Premium expert pricing – senior experts or those with hard-to-find expertise usually charge more than the normal expert market rates, for example, 1.5 to 2 credits.
Additional services & fees – it is worth asking whether extra services are included in the price or what further options are available (such as call recording, interpreter on call, call transcripts or post-call expert engagement). The Expert Network Insider has compiled a comparison study of the 12 top expert networks. This study breaks down the services and fees applied within these networks all in one place to provide an easy overview of what is available.
As mentioned above, the expert network firms may retain as much as 90% of the fee charged to the client. However, while larger companies may be willing to pay for the convenience of outsourcing the task of finding and vouching for an expert, other companies may have a smaller budget.
In this case, the best bet is to contact the expert directly. You can do your own research on LinkedIn, use references from clients or colleagues or try an expert finder website such as Expertise Finder. This website allows you to search for particular expertise and then shows you a collection of profiles of those who fit your search. You are then given their direct contact information with no hidden fees.
Depending on the area of expertise you seek and the level of seniority of the individual you wish to hire, it is advised to suggest a price of around US$100 to US$250 per hour.
Suggested read:
How do you find the right expert network?
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