This has been in our head for a while...
...the topic of price and the concept of value when providing a product or service to a potential or current customer. Does the lowest price always beat out spending more to benefit you in the long run?
The first words in our heads are it depends.
We’re not saying we don’t like a good bargain and to be honest when doing a media buy for our client’s the vendors we work with might say we are talking out of both sides of our mouths...in our minds these are two totally different things. The areas we are talking about are more mission critical items that are going to drive that valuable revenue towards your bottom line, put good business practices in place and build your brand. Sure, you might be able to get that project done for a VERY low price point if you off shore the project or give it to someone’s “go to person”, but we’ll bet you are going to find yourself re-spending that capital/time/effort again in six to 12 months with another vendor, fixing what you paid the first company to do in the first place.
The number one question we get when we start talking about working on a project for someone is “How much is this going to cost us?” Our answer every time will be it depends...because it really does. It depends on a number of factors or questions that you should be asked about when discussing a project with a potential service provider.
Think about the last time you looked into using someone to help with a branding, marketing or advertising project and whether or not they asked you some of these questions:
1. Budget aside, what do you want the end result to be?
2. Months after delivery of the project, what will make you label this a success?
3. What’s your current image and do you want it adjusted to something else?
4. What are the key characteristics of the customer that produces the most profit?
5. What are the key characteristics of the customer you don’t want to attract?
6. How are you incorporating social media into this project?
7. What kind of growth plans need to be factored into the ideas we bring to you?
8. What’s your current portfolio or mix and what works best for you right now?
9. What does your competition consistently deliver that your company doesn’t?
10. What do you consistently deliver that your competition doesn’t?
If they aren’t asking you at least half of these questions...and no, they don’t have to be in those exact words Mr./Mrs. Smarty...you might want to get a second opinion. If they don’t do this due diligence, the suggested solution they bring you will place your brand directly on a pseudo foundation with the strength of an ice cream sandwich on an Arizona sidewalk at high noon in August.
Can you afford to do this with your precious budgets? You know the answer to that one.
Like we said...this has been in our head for a while...did it get in yours?
...the topic of price and the concept of value when providing a product or service to a potential or current customer. Does the lowest price always beat out spending more to benefit you in the long run?
The first words in our heads are it depends.
We’re not saying we don’t like a good bargain and to be honest when doing a media buy for our client’s the vendors we work with might say we are talking out of both sides of our mouths...in our minds these are two totally different things. The areas we are talking about are more mission critical items that are going to drive that valuable revenue towards your bottom line, put good business practices in place and build your brand. Sure, you might be able to get that project done for a VERY low price point if you off shore the project or give it to someone’s “go to person”, but we’ll bet you are going to find yourself re-spending that capital/time/effort again in six to 12 months with another vendor, fixing what you paid the first company to do in the first place.
The number one question we get when we start talking about working on a project for someone is “How much is this going to cost us?” Our answer every time will be it depends...because it really does. It depends on a number of factors or questions that you should be asked about when discussing a project with a potential service provider.
Think about the last time you looked into using someone to help with a branding, marketing or advertising project and whether or not they asked you some of these questions:
1. Budget aside, what do you want the end result to be?
2. Months after delivery of the project, what will make you label this a success?
3. What’s your current image and do you want it adjusted to something else?
4. What are the key characteristics of the customer that produces the most profit?
5. What are the key characteristics of the customer you don’t want to attract?
6. How are you incorporating social media into this project?
7. What kind of growth plans need to be factored into the ideas we bring to you?
8. What’s your current portfolio or mix and what works best for you right now?
9. What does your competition consistently deliver that your company doesn’t?
10. What do you consistently deliver that your competition doesn’t?
If they aren’t asking you at least half of these questions...and no, they don’t have to be in those exact words Mr./Mrs. Smarty...you might want to get a second opinion. If they don’t do this due diligence, the suggested solution they bring you will place your brand directly on a pseudo foundation with the strength of an ice cream sandwich on an Arizona sidewalk at high noon in August.
Can you afford to do this with your precious budgets? You know the answer to that one.
Like we said...this has been in our head for a while...did it get in yours?
No comments:
Post a Comment