Q. Can the industry move away from being paid by time spent rather than value created for a client?

An age-old question with a similarly age-old answer?

(And we never tire of asking it)

The title of this note was the title of a letter written to Ad legend (and WPP Board Director) Jeremy Bullmore on 3rd March 2016 for his weekly column in Campaign.

His response highlights the difficulty in today's WPP trying to do something seemingly obvious - like getting paid by outcomes rather than hours - but is actually fraught with enough complexity as to render it almost (?) impossible.

The basic question:

How do you value an idea on Day 1 that might, 60years later, result in $700 million dollars worth of value?

His full answer is worth a read, if only to immerse yourself in his wonderful copy.

"I’ve got three examination questions for you; but first, the background.

The Minnesota Valley Canning Company started in business in 1903. In 1925, it discovered a new variety of supersized pea that it called Green Giant. In 1928, it adopted a caveman symbol called the Green Giant. In 1935, Leo Burnett made him more friendly, dressed him in leaves and called him Jolly. The Jolly Green Giant has been in constant use ever since. In 1950, the company changed its name to Green Giant. In 1979, it merged with Pillsbury. In 2001, it was acquired by General Mills. And last year, B&G Foods bought the Green Giant business for $765 million.

Now, please answer these three questions – in each case, with a numeral.

1. Given that the company already used a green giant as a company icon, what was the immediate value in dollars of Leo Burnett’s contribution in 1935?

2. Since 1935, what has been the cumulative value in dollars to the company of the Jolly Green Giant brand symbol?

3. What proportion of that value can be credited to Leo Burnett?

How did you do? No better, I suspect, than all those other thoughtful people who’ve been trying to think of a sane way of paying advertising agencies since 1864.

It would be truly wonderful if the value of an advertising idea could be established, to the satisfaction of all parties, at any point in its life.

Ideally, of course, its value would be calculated at birth so that an agency could say to The Minnesota Valley Canning Company: "This idea has not only researched extremely well but has been independently verified to be worth $5,378,451 over the course of the next 80 years. Be so kind as to sign below."

It is, of course, beyond ridiculous that the price of a marketing idea with the potential to transform the fortunes of a major company should be calculated on the basis of a few creatively completed timesheets.

But a price requires a number. And a number can be arrived at only by adding up other numbers. And one of the few numbers available for adding up is hours.

Another is days of usage. If that had applied, The Green Giant Company would today owe Leo Burnett 30,000 daily royalties."