We hosted the first webinar in our ‘profitable pricing’ series on Wednesday 9th June, with Esther Carder, Media Partner at Moore Kingston Smith chairing the session. Esther teamed up with our panel guests, Tracey Shirtcliff, Founder/CEO at The Virtu Group, and Ian McLellan, Worldwide Head of Program Management at Ogilvy, who both answered a number of questions from the audience and explored the need to transform the conversation and methods used when scoping and pricing work.
We are delighted to share out top key takeaway points from the session:
- Scoping better is more important than tracking time when it comes to profitability
- Recognise the importance of defining the strategic value and purpose of work with clients at the point of brief
- Before you can implement a value-based commercial model, you first need to sell what is being delivered
- Selling hours rewards inefficiency. Selling deliverables rewards efficiency.
- It’s key to understand the clients desired outcomes before deciding what outputs to deliver as a pricing solution for them
- Hours and rate cards are useful indicators in assessing agency profitability however procurement can identify value easier from a defined output than a list of hours
If you would like further information or have any questions, please do get in contact.