Why do agencies get themselves into these situations where they feel they have to take work on onerous terms, where they have to put up with procurement's powerplay moves and where they have no power to affect price?
Many of your proposals fail because the client isn't sure what they would be buying. One of the first pricing principles I address in Pricing Creativity: A Guide to Profit Beyond the Billable Hour is the idea that there are three things you can sell and price: inputs, outputs or value.
I bet I can guess your Why. What I mean is, if you are one of the millions of people who have been moved by Simon Sinek to “find your Why”, as articulated in his TEDx talk and book Start With Why, I’m pretty sure I can guess what that Why is. With only subtle…
There is a period in everyone’s development, I believe, where they choose to be dismissive of New Year’s resolutions. If that’s you now, you’ll get over it. New Year’s resolutions are a perfectly valid mechanism for helping to drive change in one’s career, business or life, but most of them fail to achieve such change,…
Confidence is not evenly distributed in the world. I recognize that I probably have more than is merited, but I’ve been at the other end of the spectrum, too, having once worked for someone who seemed to actively undermine the confidence of her subordinates as a means of building her own. I quickly discovered that…
While centralizing pricing in your firm is a step toward building a firm that is intently focused on extraordinary client value creation and the corresponding profits, to finish the journey and get to the highest levels of profit you will have to centralize scoping too, and reshape the account manager role as one of dual expertise in both the firm’s subject matter and the process of mastering the value conversation.
Blair gets David to admit that he was kind of wrong about open book management being just a fad when he originally wrote about it almost two decades ago, and David offers ways that it can actually improve relationships with both employees and clients when used appropriately.
Blair and David analyze and then look beyond the requests for reassurance potential clients make during the late stage of a sale to address their underlying motivations.
By learning to say what you’re thinking you create a real dialogue between professionals and an environment where everyone can speak frankly. You’ll also find that moving from presentation mode to conversation mode, in which you ask direct questions like the ones above, shifts the power balance toward you and you communicate that, like the client, you too are discerning of the fit.
The goal of value-based pricing is not to charge more—that’s merely a beneficial consequence. The goal of value-based pricing is to create an organization that is intently focused on creating extraordinary customer value.
It's been common for a long time for agencies to kick off a new client engagement with a workshop of some form. Sometime in the last two years, however, clients started to suggest to agencies that instead of pitching for free they would pay them to workshop some ideas. It sounds good on the surface, but is it better than pitching?