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Price Versus Value

katy hinz synectics mediaI recently came across the story of Paula Scher and the Citi logo design. Paula, a seasoned typographer and graphic designer was approached by Citi to create their new logo signifying the merger of Citigroup and Travelers. At a simple lunch meeting, Paula met with the client and sketched out – in a matter of seconds on a cocktail napkin – what was to be the new logo.

How can a multi-billion dollar corporation rationalize paying a nice chunk of change for just a few seconds of work? As Scher puts it “It’s a second done in 34 years.”

A new logo, designed in a matter of minutes.

A new logo, designed in a matter of minutes.

Citi paid for value. Had Citi been interested in finding the lowest hourly rate in a design firm, they would have. But they saw the value in those 34 years of Scher’s experience. Every job, mistake, stumble and success in Scher’s career is wrapped into that price tag. She’s an expert in her craft, and that’s what they paid for.

When looking for a marketing agency (or anything for that matter), it’s easy to get swayed into comparison shopping. Company A can build my website for 25% less than Company B. That’s only part of the equation. What can Company B offer you? Is it truly apples to apples? Or does Company B bring experience, guidance and a do-what-it-takes-no-matter-what attitude that Company A lacks?

When you’re out in the business marketplace, consider the whole of what you’re being offered. It’s price versus value. And, well…you get what you pay for.

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