Pricing Value in a Social Media Enviroment!

Negotiating price without value in mind is a sure way to loose not only your perceived but your real value in the eyes of your clients.

I guess what Im trying to say is that , Yes you need to negotiate but not by sacrificing self worth. You negotiate by creating bilateral social incentives that promote engagement and offer the best alternatives for your clients and yourself.

Remember businesses needs are what they are regardless of  diagnosis and those needs will still remain long after you’ve walked away. So might as well figure it out…

So, where does this leave us?

Well as a business owner, and in terms of project delivery,  your responsibility is not as much to get the best pricing as much as it is to get or provide inherent value for what you are paying or being paid for. If you start beating down on pricing early and exclusively you might come across as superficial and further commoditize your image.

There are two other major areas to focus on beside what you’ll end up paying for a service…

• value
• terms

Value is obvious and tied to your business model. Terms however are infinitely underrated.

Why is this?

Well because, we still operate from a price mentality instead of a value and terms mentality, and because and especially during a down economy, we tend to overplay our decisions which tend to be defensive instead of  from a “change is opportunity” approach. We just  haven’t nurtured habits of negotiating from a value/terms position. This is obviously not a good strategy!

Remember whether you are providing a service or receiving one…the following still applies,

• Start from a value oriented reasoning…How is this making me better in the eyes of my customers and clients?
• How is this differentiating my company from the rest?
• Am I engaging differently, How do I measure these results?
• Even if pricing is not locked, use terms to negotiate a better position, but don’t do it only for you…if it betters your position but it worsens the other side is no good either…Approach it from: What’s better for everyone involved, use a problem solving angle instead of a what’s in it for me angle!
• Factors such as Internal financing, project delivery and time-lines,  peripheral incentives, bundled packaging, referral programs, etc…are all extremely valuable elements to consider.

At a time when the world of PR, Marketing and Advertising are going through a gigantic metamorphosis; business owners should know what changes are occurring and how these changes can affect their respective business models.

Whether you are in the receiving or giving end of Marketing Digital Services, understanding these dynamics will undoubtedly create the foundation for what a value/terms approach should look like for you.

But don’t take my word for it…When discussing your next project and whether providing or receiving services, apply a few of these elements, give it a go and see what happens!! 

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