In last month’s blog, I talked about the old marketing adage that you could have any 3 things, as long as you picked 2. Many of you responded with strong agreement. Some said it is possible to achieve all three – with the right set of circumstances, to which I concur.
However, a couple responded with a challenge – it’s not about cost, it’s about ROI.
“As a provider, you are either saving money for the client, or you’re making money for the client. The provider must demonstrate the value. That’s the least common denominator.”
Which brings us to a key word – value. Ultimately, one could argue that timing, cost and quality go by the wayside as a focus, if you are providing the correct value as a contributor. So how do you provide the value? What would be valuable to a client or vendor? Generically, it would be the ROI. Are they getting out of the relationship/contract/engagement at least as much is being invested in time, money and effort? Or is it (hopefully) exceeding those expectations? Specifically, that conversation veers off into other topics of knowing your audience and understanding the broad picture…
We know the world is ever-evolving. Perhaps my last blog was correctly titled in using the descriptor of “old”. Or perhaps it is simply tied to one way of thinking, which is centered around a cost-based model of looking at projects; which for all intents and purposes works in a lot of industries and situations. However, as I learned in my time at an agency, there is a lot to be said for a value-based model – the 4th leg of stool. Rather than focusing on how many hours, or to what level a team is built, the focus is first and foremost the value that one can provide in a situation. What pain is going to be alleviated because of your involvement and what experience do you bring to the table to provide excellence for the result?
With cost-focused people and projects, the old adage will always play out. However, with those more concerned with ROI, value and achieving the end-result, value is the name of the game.
What do you think?
Stay tuned for more from TCS next month!
Sarah Heximer, Owner & Chief Visionary Officer
True Colors Strategy