How do some agencies charge a premium for their services while others do the same work for a fraction of the cost?
It starts with a mindset shift.
First, it’s important to consider how each agency defines “similar work.” There’s no one-size-fits-all approach to creative development. You might be surprised at how many different ways to approach a project—even if you’re working with the same client with the same goals in mind!
Second, as an agency grows, its obvious costs also grow, and agencies that have been around longer tend to have higher overhead costs than those that have just started.
But there are other factors at play, too: maybe one agency has built up more trust with clients over time; maybe they’ve established themselves as leaders in their field or have developed a reputation for providing high-quality output; or maybe they have a stellar team of designers, copywriters and web developers who consistently produce great work (and therefore command higher rates).
The answer is simple: creative entrepreneurs who can leverage their value have an advantage over those who don’t.
The fact of the matter is, there are a lot of people out there who can do what you do. Maybe they’re not as good at it or don’t have as much experience, but there are people who can handle whatever projects come your way.
And if you’re charging only marginally more than your competition, how do you expect to get paid a premium price for your work?
We’ve spent years developing our process at Butler Branding (through trial and error), repeatedly proving how valuable it is for clients to help them clarify and communicate their message. It is the reason why they trust us and pay a premium price for our services.
So, take a look at your agency and ask yourself: am I leveraging my value as a creative entrepreneur? If not, what steps can you take to start doing so today?