The Rule of 2/3

JANUARY 18, 2019| IN BUSINESS| BY ANDREA KEIRN

You’ve heard of this rule before. You’ve seen it before applied to various industries of service providers, but that doesn’t make it any less true.  For marketing professionals, we know this rule all too well. Getting our clients to understand, however, is a different matter.

The Rule: CHEAP. FAST. GOOD. You can only choose 2.

CHEAP: You are always looking for a deal. It is our human condition to try to find ways to save money, and retain the best value for the work we are paying for

FAST: You also want your projects done as quickly as possible.

GOOD: Not only do you want it done quickly and for less money, but you want it to be good. Good design, good strategy, good in every way.

Why can you only choose 2?

VALUE: the value of quality marketing work is not synonymous with the amount you pay necessarily. Value is provided when something is done well, with intention and provides both instant results and long-term outcomes.

CHEAP + FAST: When you’re choosing two, cheap and fast end up being a likely option, afterall, those are your two primary motivational factors, get it done now and get it done for the least amount possible. The problem with this strategy is that it forces your marketing team into a situation in which they have to cut corners, spend less time finding the best possibly solutions and instead finish a “quick and dirty” version of your project. That means the thing you have sacrificed is GOOD. Your project will still have a lot of positive attributes, but will it be everything you hoped, and be perfect without any missteps? No.

CHEAP + GOOD: Ok, so above it seems like the issue is one of time, by combining cheap and fast you lost quality which is what you need in the long run. Choosing cheap and good could be a better combination because you save money while getting a higher quality completed project which could ultimately mean higher value. The sacrifice here is time. In order to perform high quality services at a lower rate, your team will need to manage this project differently. And you may be one of many projects in process and in order to spend the time wisely on your project and make it beneficial to the team, they will need to take extra time.

FAST + GOOD: Yes, this is an option. Yes, we can do what you want in the quality that you want in the timeline you want, but that will mean our team will have to work double-time, triple time and that means it’s going to cost you more, because you will have to pay for that time and extra time spent.

Keep this in mind next time you are trying to hire a marketing company, or any other services company – you will have to sacrifice one of the three. Otherwise, you will not get the value you are actually looking for.

Which 2 would you choose?