Difference between Price and Value


Difference between Price and Value

pablo (17)

A social media professional contacted me few days ago. It seems he had met me at an event where I was a speaker on Entrepreneurship.

His query was very simple: He said, “Hi Ananth, most of the companies I meet ask me why do I charge or charge so much for posting on facebook and twitter. Each of these sites are free? What should I tell them?

I remembered and shared this story with him:
The source of this story is originally from
“IT and Business Alignment: Finding the Mark by Ruby Gates | BetterManagement.com, July 23, 2004”

This is how the gist of the story goes:

Charles Steinmetz was once called out of retirement by General Electric to help it locate a problem in an intricate system of complex machines. After spending some time testing various parts of the system, he placed a chalk-marked ‘X’ on a small component in one machine which then GE’s engineers concurred. Some time later, GE received a $10,000 invoice from Charles and they argued asking for justification of this cost. Charles shared a break-up of the cost as “Making one chalk mark= $1 and knowing where to place the mark= $9,999.

Businesses today can relate a lot to this story, especially digital agencies and digital marketing or social media professionals.

The problem arises when people or organizations fail to see Value in your service and are able to focus only on the price.

pablo (16)

Social media or digital marketing today is not about posting content on social networking sites. Why? Because, anyone from any background and age group who has access to a social site can do that sitting at home.

But what you as a Brand would need is, someone to understand the Branding, marketing, analytics part of it so that your campaign leads to some results. Which is why you need to hire professionals.

It’s very simple: If organization’s refuse to pay you what you are asking for, either they don’t see value in your services or in the medium itself.

pablo (18)

Social media case studies from our digital agency have always showcased and proved that ROI from digital marketing exists. And that we, as a digital agency at Techdivine have been delivering it for many of our client brand partners since 2010.

We ourselves, as a digital agency, have acquired more than 70% of our clients using digital marketing and we are proud of this fact because with this process we have confidently assured our clients over the years that we too use the same services to grow our BRAND and Business too. And yes, of course, with the added benefit of the fact that Digital marketing works!

Always remember, Price is what you pay, value is what you get.

If you are serious about your brand and truly understand what this digital medium can deliver for your business, then be ready to invest time and resources.

Nothing valuable ever comes free.

This is after all, “social” media.

Feel free to reach me for queries or customized campaigns on Digital Marketing, Branding, Social Media or custom designed Corporate Training courses or workshops for your teams, would be glad to connect: Click HERE.

Let’s connect: Facebook Twitter LinkedIn Social Media Book – Digital Marketing Corporate Training

Ananth V

 

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