Agency Mindset, Value Creation
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During the recent 4A's Webinar on value pricing, Tim Williams and Ron Baker discussed fundamental steps to overcome client commoditization of an agency:
1st—Create real value for clients.
2nd—Measure and quantify the value that is created.
3rd—Communicate with your clients and prospects the value that your agency creates.
4th—Price agency services based on value rather than based on costs.
The principles of the Baker-Williams “Marketing Services Value Chain” seem to be relevant in any economy.
Do these foundational value principles represent an untapped opportunity for agencies in 2009? What do you think?