Speaker: Tim Williams
Agencies struggle to get paid for the value they create not just because they aren't charging enough, but because they're selling the wrong thing to their clients in the first place. Instead of adopting the same modern pricing methodologies used by their clients, most agencies are stuck in the deeply unproductive practice of negotiating their costs instead of selling their value.
The result has been a 20-year decline in average agency profitability, with most agencies doing more and more work for less and less money.
But it's not too late to reverse this trend. Agencies can join the pricing revolution that has swept through global business over the past two decades. Pricing innovation is one of the hallmarks almost every trailblazing company, and agencies can apply the same kind of creative thinking to their own revenue model.
Using examples from around the world, this thought-provoking presentation explores the many other progressive pricing strategies used by today's businesses and shows how they can easily apply to professional service firms like agencies, including such concepts as:
- Why the billable hour is not a unit of value (only a unit of cost) and how to effectively sell the value you create in other more effective forms
- How to change the dialogue away from transparency of agency costs to what really matters: the value being created for the client
- Why all price setting should start with an estimation of value, not cost
- The importance of separating the value of ideation and implementation
- How to charge for the value of outputs vs. the cost of inputs
- The difference between bottom-up costing and top-down pricing
- The power of presenting pricing options
- And much more
Come prepared to roll up your sleeves and develop your competencies as a professional seller, better equipped to deal with the professional buyers on the other side of the table.
All program participants receive a comprehensive workbook as well as access to the onscreen content presented during the workshop.
Tim Williams is one of the foremost authorities on pricing and business strategies for agencies and other professional service firms. Tim's workshops have been seen by business audiences on every continent, and his books and articles have helped inform the pricing strategies and business models of hundreds of firms across the globe.
Based on his expertise in this area, Tim has written for numerous advertising and marketing publications including Advertising Age, Adweek, Campaign, Admap and Communication Arts and has been interviewed by organizations like The New York Times, The Wall Street Journal, The Economist, The Guardian, and The Australian Financial Review.
As a perpetual student and member of the Professional Pricing Society, Tim serves as a one of LinkedIn's global "Influencers," writes the popular blog Propulsion, and has authored two books, including Positioning for Professionals: How Professional Service Firms Can Differentiate Their Way to Success."