There is a classic marketing tale about a major shopping center that experienced a failure in the elevators that took shoppers to their main floor.
It was costing them thousands of dollars a minute in lost sales.
The mall manager was panicking. She had called several service companies, but none of them seemed to be able to fix the problem.
Finally, she called somebody who was able to fix the problem in 60 seconds flat by simply pressing a few buttons…. then he invoiced her a whopping $10,000 fee “for services rendered”!
The outraged mall manager asked the service man, “How can you charge $10,000 for pushing a couple of buttons and one minute’s work?”
The service man replied by re-writing the invoice to say, “service charge for pressing buttons; $1. Investment for knowing which buttons to press; $9,999”.
Do your customers understand the value of the knowledge you deliver in your value bundle?
In virtually every field, it is knowledge which allows you to ‘press the right buttons’.
Nowhere is ‘knowledge’ more important than in the rapidly-changing field of marketing and advertising.
The next time your prospect questions why your spot rate is $100 compared to the competitor’s spot rate of $90, you might suggest that your actual spot rate is only $20, the other $80 is for your expertise in capturing higher returns on their advertising investment.