Why do agencies struggle to charge for strategy?

Imagine a marketing agency filled with strategic prowess and innovative thinking, yet hesitant to charge for their expertise.

Easy I hear you say…most indie agencies suffer from this predicament. But why does this dichotomy persist, and what fuels the reluctance to assign tangible value to their services?

1. Confidence Quandary: For many agencies, confidence in asserting the value of strategic work can waver. Fear of overestimating worth or potential client pushback can lead to hesitance in charging adequately.

2. Limited Budget Mindset: Agencies may match pricing to perceived budget constraints, undervaluing the strategic thinking behind campaigns.

3. Value vs. Tangibility Paradox: Strategic work can seem intangible, making it difficult to assign a visible price tag.

What do STANDOUT agencies do to overcome these barriers?

1. Articulate Value Proposition: Agencies must explain how strategic work forms the bedrock of successful campaigns and contributes to clients’ objectives.

2. Transparent Communication: Open dialogues with clients demystify the perceived intangibility of strategic work.

3. Holistic Package Offerings: Integrating strategic work into comprehensive service packages reinforces its importance.

4. Demonstrated ROI: Tangibly showcasing potential outcomes and business impact substantiates pricing.

5. Education and Advocacy: Nurturing a shared understanding of strategic expertise allows agency teams to advocate the worth of their offerings.

Reluctance in charging for strategic work stems from perceptual barriers and undervaluation of intellectual capital. Fostering confidence, transparent communication, and value articulation allow STANDOUT agencies to assert the true worth of their strategic talents.

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