Can you put a price on value ?

While I was offering a workshop based on Beckon’s intermediary research to agencies a potential participant reached out for more details and when I mentioned there was a fee for the session, they replied (fairly bluntly, it has to be said) that if it wasn’t free, they weren’t interested.

 

That prompted me to wonder when we should offer our services for free, and when should we charge?

 

The research in question was a significant undertaking by one of our consultants, Rebecca Lalonde, an industry expert who has spent months gathering data on intermediaries, through one-to-one interviews, uncovering valuable insights – the type of work that would take any new business team weeks or even months to compile. Our session condenses all that hard work, offering agencies a fast track to connecting with intermediaries, at a fraction of the time and effort that it would take to do it themselves.

 

We’re no strangers to reciprocity, often offering free content or sessions to attract potential clients. But should we be expected to give so much value away for nothing? But where do we draw the line – and are we at risk of giving away too much for free?

 

This ‘challenge’ isn’t unique to Beckon. In a competitive market like ours, with many other consultancies, one-man bands, automated tools and other agencies which profess to ‘deliver you growth’, strategic pricing can help differentiate you from competitors.

 

According to Up to the Light’s ‘What Clients Think’ report, in association with the DBA, clients are increasingly looking for greater levels of proactivity and added value from their agencies but there comes a point where they need to understand the difference between offering something for nothing – and engaging in a value exchange.

 

‘F**k you, Pay Me’ (FYPM) is a transformative ‘pay transparency’ tool, born from the phenomenal potential of the creator economy (currently worth $250 billion) With only a small handful of ‘professional’ and influential creators using Instagram, TikTok and YouTube etc (ie earning upwards of $100k) as outlets for their creativity, the tool creates a bridge between digital creators and brands and ensures both parties walk away from the negotiation table feeling valued and satisfied.

 

It’s no different for growing agencies; it’s essential to understand your value proposition – what are you putting a price on – the real business impact of the services you offer? After all, if something is genuinely valuable and will significantly benefit the client, it stands to reason that there should be a cost associated with it.

 

At Beckon, we, too, stand by our value. We simply don’t give away our best work and thinking for free. That way, we’re able to attract the right clients – ambitious agencies who want to grow, and who that recognise the worth of what we offer are willing to invest in it.

 

It stands to reason that, when clients invest in our services, we feel more valued and more appreciated and they are more likely to be engaged and committed. Through this strategic planning and investment in our expert services they can enjoy fruitful and sustainable growth – far beyond what any (free) quick fix can offer.