Tuesday, November 15, 2005

Quality Marketing Has A Price

JD Moore over at the "Marketing Comet Blog" (one of my favorite blogs, I might add), had a nice post last week called "When You Should Hire An Expert".

Too often people think that they save money by trying to tackle complex tasks themselves. This is often true in professional services firms when it comes to sales, marketing, business development and PR. The lawyers, accountants or consultants looks at these areas as "soft skills"....and thus they rationalize that they are not difficult. Instead of paying someone with experience to handle these jobs, they wrongly believe that they can and will do them themselves (or get some young college graduate who will work for a small salary).

The results are usually not great, so then they rationalize that sales, marketing, business development and PR do not really apply to their industry.

JD uses the below diagram to illustrate why you need to think ahead about the results you want from any project, and then choose if you want the task done fast, cheap or good. The triangle illustrates that you can have some degree of any two...by you cannot be on track for all three at once.

Let's look at marketing for example. If the goal is for your firm to create marketing materials fast, you can have that...but the closer on the line you get to fast, the farther you get from good or cheap. If you want cheap....you are moving away from fast and good. If your heart's desire is for good (effective) marketing....then fast and cheap will be in your rear-view mirror.

Yes, good is neither fast nor cheap.

However, most professional service firms long to have all three at once. I know a law firm who wants a "great" marketing person. Their favorite candidate is requesting a salary equal to that of the attorneys. The firm is appalled. They are focused on the fact that this person is expensive, yet they will openly admit he is the best candidate. They want him, but said "we cannot pay a marketing person a salary equal to what we pay a lawyer!!!"

One question: WHY NOT????

Here is what will happen to that firm. They will hire another candidate who will work for the salary they are willing to offer. In the end, the results will be mediocre. They will wish they had gone with the other candidate..... but slide along with the second choice. I have seen it happen many times in service firms.

Sales, marketing, business development, branding, public relations are all important business skills. Your firms should treat the professionals who do these jobs like....well professionals!!! And quality costs money.

Have A Great Day.

Thom Singer'


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