Your Money’s Worth

Category: News • May 14, 2024

Back in the 1980’s, a clever marketing tactic used in television commercials gained popularity where, after a lengthy sales pitch, the announcer would reveal the product’s price to the audience and then, in a moment of temporary insanity, expand the deal to include several additional items. A classic example of this approach was the indestructible frying pan priced at $90, but for a limited time, every order would include a stainless-steel strainer, a set of spatulas, the finest potholders ever made and a wire whisk. When consumers considered all the extra merchandise they were getting, $90 for a frying pan didn’t seem that bad, and they were right.

This strategy was about selling value. Not only was the product crafted to exceptional quality standards, but it also came with other useful items that increased the overall value of the purchase. And while these items appear to be “complimentary”, of course, they aren’t. The price of the frying pan might be at the higher end of the price range for such a product, but that’s only because the frying pan is just the beginning of what a customer can expect to get for their money.

Tangible value, like free oven mitts, is an easy sell. Service value is a slightly different prospect, unless your customers are also business owners in the service industry. Financial institutions like the ones we do business with understand the value of providing top notch consultative services that are often difficult to find. In addition to superior design and construction services, our clients benefit from our experience and expertise in market and data analysis, strategic site selection, space and staff planning, brand enhancement and implementation, and much more. Their projects benefit from our demonstrated understanding of Integrated Project Delivery and their team benefits from our commitment to collaboration and seamless execution.

There are some things you simply can’t put a set price on, value is one of them.