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COSTS VS. VALUE

September 1, 2019

Since 2014, I’ve been deeply rooted in the advertising world. Having run operations for an agency and owning now two separate LLC’s, I’ve grown to learn how to approach the costs vs. value conversation with clients. While I may not win all bids, knowing that a client has been educated on value is a significant win in my book.

Now I understand that sounds arrogant — but one of the most difficult aspects of being a creative is feeling unappreciated. Truth is, creatives and strategists add significant value to businesses. That said, we now live in a NOW world where people expect excellence on a shoe string budget and they need it yesterday.

So in approaching business now, I learned from a mentor/friend (Larry Hubatka) that there are three focal points that clients should consider when approaching projects: costs, timeline, and quality. And here’s the trick, you can have two of the three (but never ALL three). If you need a project quick and cheap, it’s going to lack quality. If you want a quality project and and one a quick turnaround, it’s not going to be cheap. Are you getting the picture?

This is where value comes in. Before approaching a new project with a creative business and/or freelancer, consider what the value of the project is to you. And really think about it. For example, if you need a logo to represent your organization strategically or a website to attract new business — don’t sell yourself short by compromising on quality. Success is an investment.

If a new business website has potential to bring in $250k in revenue, a $10-$15k website should be a no brainer. Again, it’s an investment.

With all of this said, here is a warning to all businesses looking for the right creative partner — DO YOUR HOMEWORK. Look at their previous work. Read reviews on Google and/or Facebook. Ask about their process. After all, this is YOUR investment. Be a good steward and the return will be astronomical.

For more information about our pricing, process or to see more examples of our work — click here.

Tags business, quoting, pricing, new business, process, advertising, value, advertising agency, freelance, creative

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