Cadence #14 - Would you pay for SEO in Disney Dollars?

Howdy folks,

I hope everyone in the UK is enjoying the long weekend! In this week's cadence, I'm covering a sensitive topic in SEO, and that's the transparency of pricing models.

In reference to this newsletter's title, for 30 years Disney used a scrip currency known as Disney Dollars allowing for control over the economy of its Disney resorts, parks, and event spaces.

As Disney controlled the exchange rate of the "real world" currency to the Disney Dollar, they could control inflation, profit margins, and the entire economy within a Disney nation.

Some agencies take this approach to pricing and in exchange for your Dollar, Sterling, or Riyal you can get credits, tokens, and pixie coins.

Services and deliverables are equated to said scrip, much like buying Gems or Coins on a mobile game, like Candy Crush or Angry Birds.

As a business owner, you want to make data-driven decisions about how you invest your marketing dollars, but opaque pricing structures make that nearly impossible.

The truth is, transparency in pricing matters for your business and your budget. When agencies are upfront about their rates, fees, and billing practices, it allows you to find the right partner for your needs and set proper expectations about the investment required to achieve your goals.

So the main question is, would you want to pay for services that are critical to business, in a scrip?

You can go into the relationship with your eyes wide open, feeling confident you’re getting what you pay for. Transparency builds trust between agencies and their clients, and that trust is the foundation for a successful, long-term partnership.

The Hidden Costs of Opaque Pricing Models

When marketing agencies are opaque about their pricing, it often means hidden costs for you.

• They may start with a lowball offer to win your business, then nickel and dime you with extra charges for “optional” services along the way. Before you know it, your budget has exploded.
• It’s hard to compare agencies when you don’t know what’s included in their fees. One agency may charge more upfront but actually save you money in the long run by including more services. You’ll never know unless pricing is transparent.
• Opaque pricing models often mean the agency’s incentives aren’t aligned with your goals. If they’re focused on maximizing billable hours, they may drag out projects unnecessarily or push you to spend more than you need to.
• You can’t determine if you’re really getting good value unless you understand exactly what you’re paying for. Transparent agencies will provide a detailed statement of work that spells out all fees, services, timelines and key performance indicators to evaluate success.

The bottom line is that transparent pricing builds trust and helps ensure you get what you pay for from your marketing agency. Don’t be afraid to ask tough questions about fees, costs, and billing practices upfront. If an agency can’t give you clear answers, keep looking. Your marketing dollars—and results—will thank you.

Why Retainers and Fixed Pricing Promote Trust

When an agency is upfront about their pricing, it builds trust with clients and leads to better working relationships.

• Transparent pricing means the agency shares exactly what services are included for the fees charged. No hidden costs or surprise bills. As a client, you know exactly what you're paying for each month. This gives you confidence you're getting value for your money and the agency isn't taking advantage of you.
• Fixed retainers provide predictable pricing so you can properly budget. When you know costs won't fluctuate each month, it's easier to allocate the right amount of funds to your marketing efforts. No worrying about variable bills that change each month.
• Retainers encourage long-term thinking. When an agency knows they have your business for the long haul, they can take a strategic approach to your marketing. They have the security to invest time in planning comprehensive strategies, not just quick fixes. This long-term view will benefit your business in the end.
• Transparent communication is key. The agency should clearly explain their pricing model, services included, and the value you can expect. They should also regularly report on key metrics and insights to show the impact of their work. This level of communication builds a trusting partnership between client and agency.

In summary, transparent pricing and fixed retainers are the hallmarks of a trustworthy marketing agency. When you find an agency willing to openly share their pricing and billing practices, you've likely found one that will become a true partner in your business's success.

How Transparent Pricing Leads to Better Client Relationships and Results

Builds Trust

When you're upfront about your pricing from the start, it establishes a foundation of trust with your clients. They know exactly what to expect in terms of costs and fees, with no hidden surprises down the road. This transparency gives them confidence that you have their best interests in mind.

Sets Clear Expectations

Laying out your pricing clearly and openly ensures that you and your clients are on the same page regarding the scope of work, deliverables, and budget. There won't be confusion or frustration over unexpected costs. Both parties can enter into the relationship with realistic expectations about what can be achieved based on the agreed-upon budget.

Encourages Collaboration

Transparent pricing often leads to a more collaborative dynamic between an agency and their clients. When pricing is opaque or unclear, it can breed suspicion and negatively impact the working relationship. But when clients understand how your rates are determined, they are more willing to work with you to find creative solutions that meet their needs within budget constraints. This spirit of partnership will produce better outcomes for both sides.

Results in Satisfied Clients

Ultimately, transparent pricing leads to happier clients. When people know exactly what they're paying for and why, and when the final bill aligns with initial expectations, they feel satisfied with the service and value provided. Transparency is the foundation for a trusting, long-term relationship between an agency and their clients. And satisfied clients who get good results are the best source of repeat business and referrals.

In summary, transparent pricing is a win-win for both marketing agencies and their clients. While it may require educating clients on your rates and billing practices, the investment in building understanding and trust will pay off through better working dynamics, satisfied clients, and lasting relationships.