The other day I was chatting with a client about the scope of one of their service offerings. They have been considering offering one component as a stand-alone offering. It’s less about the offering that struck me, and more about what they were focused on that I want to talk about.
In talking about next steps and what was preventing them from moving forward any which way about it, this client commented to the effect of, “Mostly I need to just sit down, see what other agencies are charging for it, and then go from there.”
There is some truth to that statement, BUT the most important variable is missing from the equation. Their customers!
When you are evaluating an adjustment in service offerings, your focus needs to be on who you are serving – the customer – not on what everyone else is doing.
When you have an existing customer base that you think you can serve better by making a change, seek out their thoughts.
- Will this actually help them?
- Would they have thought of doing something like what you’re thinking to offer?
- How much are they willing to spend on something like that?
Then, determine if you can add enough value to the customer with enough profit margin for the price you determine you could charge. This is how to assess whether an offering is worth pursuing.
THEN, you can determine how competitive your offer would be against alternatives in the market and adjust from there. But, start with ensuring it’s something the market wants, not just something you want to sell.
I think marketing agencies often put the cart in front of the horse because it feels easier now to launch a website page and see if you can get any interest on the offer rather than picking up the phone and asking for feedback from customers. This behavior is exactly why you should not just look around at competitor websites, see what they are offering, and create mimicking service offerings.
Getting feedback from your customer’s does not have to be overcomplicated matter either. You just need to wisely inform your offerings.
You can have the account managers ask existing customers what they think of the idea and get feedback for how the offering could be improved.
You can pitch the idea during sales calls, even, and see what kinds of responses you get.
This qualitative kind of approach will need to be assessed more manually, but the exercise in and of itself can help to bolster your offering and increase your confidence for how to price and deliver the service.
Building a successful marketing agency takes grit, a focus on your value, and sometimes a *loving* kick in the pants.
Needing an ally as you achieve your long-term goals?
I’d be happy to help.