How to Get Paid On Value and Not Time
Benefits of Value Based Selling For Your Agency
Are you the Bentley or the Volkswagen? Bentley is owned by Volkswagen but why does the Bentley demand more value? Do you know the benefits of value based selling for your digital agency?
Currently, agencies get paid on time spent instead of value and results. They give away the most important asset (strategies and ideas). This model makes clients devalue the execution, which makes the most money for the agency.
[ctt title=”When agencies are billing on time alone, they are focusing only on the cost and not the value. This penalizes their experience and efficiencies.” tweet=”When agencies bill on time alone, they are focusing only on cost not value. http://ctt.ec/fwmKs+ via @jswenk #agencygrowth” coverup=”fwmKs”]
When you think about it, what clients are buying are results. So, let’s come up with a new model (The Value Model) where agencies focus on the client’s desired outcome. Ask the client what they think the result is worth.
When you want to start getting paid on value and not time you need to ask these three questions:
- What price would be too expensive and more than the client would be willing to pay?
- What is the result worth to the client?
- What price would be too inexpensive and would make the client question its value?
Do you believe you’re worth more than you are charging currently?
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How I Can Help You
I explained the importance of value based selling in your digital agency but what else do you want to know? Through my experience in the industry, I have advice on many topics from the struggles you may face with failing economies and recessions to how accepting a speaking opportunity can create business and using social media and Youtube can boost marketing for your agency.
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