I had the fortunate opportunity to join the iMedia Agency Summit last week in beautiful Los Angeles. The Sunday format of the conference is valuable, eliminating any sellers. Sitting in a room exclusively with agency professionals, it was interesting to hear the various perspectives from 3 person shops all the way up to the large holding companies.
Through the discussion, three adjustments to our general terminology and thought process surfaced:
“Price” should be “Value”
There were lots of conversations around the commoditization vs. the value agencies provide. Rather than providing a price sheet, we should be looking at a value sheet and communicating the value that the service brings to the table.
“Case Study” should be “Business Outcome”
Case studies are submitted to the academic community. Putting these together, we are essentially demonstrating the business outcomes of specific ideas, strategies or executions. Business outcomes are more closely tied to a business case or justification to execute.
“Spend” should be “Investment”
We are not just spending money. We are making an investment. We are investing in the opportunity that the media, technology, service affords us.