Are you responsible for marketing activities in your company? During the past years I have met dozens of buyers, who want to bargain. So far I haven’t seen any of them succeed, and there are a four reasons why.1. Marketing is a cost, not an investment
Yes, you have heard this before. It relates to loss aversion way of thinking, where you want to maximize the money you already have in your bank account, not the money that should be coming in. Many times this problem occurs when the marketing service provider is not able to provide a clear, reasonable, credible and risk-free marketing ROI. If the service provider handles this well, you are nearly a fool not to grab the opportunity.
2. Less quality for less money
For some professionals, bargaining may be nearly an insult. Why? When you don’t give value to the service provider’s expertise, surely it will affect their enthusiasm, commitment, and eventually, quality. Quality also means delivery time, so your bargaining will lead to lower quality delivered late. Hard to imagine you would be satisfied with that.
3. Bad buyer reputation
Thanks to social media, if you gain a reputation as a buyer who will always bargain, the reputation will harm you. How come? Service providers who know their value to their clients, and can present a reasonable ROI, will dodge your RfT’s. You will end up with a bunch of cheap amateurs. Imagine what this will do you among your competitors, who choose otherwise. They use the high-quality providers, take the passing lane, and leave you eating dust.
4. Corporate image has flaws
Let’s face the fact: your company is like any other in your market. It does not stand out from the crowd, it does not raise emotions, nor does it draw attention. Although you pitch your company providing high-quality services or products, your corporate image conflicts with your values and customer value proposition. It is not about what you say, it is about what you do. And what you do, has a lot to do with how you appear in the market. Graphics, photography, content. Those three not in line, and you’re doomed.
Luckily, I know a lot of companies who would sell jackets off their backs just to invest in marketing. I have seen success stories, leading to acquisitions, merging, market-leading and fame. When you have a good reputation as a buyer, the best providers in the market will fight over you. They will provide the best they can – and beyond. They will lead you to lead the market.
After these words, would you bargain?