#FridayFails - When You Can't Prove Value, Take a Guess and Drop Your Prices

This week's fail was forwarded to me by a friend.  As I looked at the original message (and the exchange), I was contemplating whether to use this one as an example.  It is not awful.  But there are some little issues that can make a big difference.    And, the followup after a response was just wrong.   Same rules as always.

Subject: [Publication Name] invites [Firm Name] for the Cover Story feature in The 50 Fastest Growing [Industry] Companies

Dear [My Friend], <<Nothing wrong so far>>                                                                                                       

Hope you are doing well!

I am [rep name] from [publication name]. Our editorial team has advised me to invite [firm name] on the cover page for The 50 Fastest Growing [Industry] Companies listing for the month of August 2016. We believe there is a great story line about [firm name] that can be communicated to prospective clients. <<This is okay (some weird grammar), but this is where it starts to break down.  There is nothing that states that the firm was named one of these 50 fast growing companies (or confirming why they were selected) and there was nothing about why the editors felt it was an interesting story.   If that had been present, the reader would have been hooked (they may not buy, but they would be interested).  As it is, there is probably enough to read on, but this was an opportunity missed>>

Please do let me know if this is something you would like to pursue. A typical cover story will be of 5-pages. The cover story will touch the base upon the products/services that [Firm Name] provides for Consultant, we will provide an in-depth perspective on how [Firm Name] has been constantly differentiating in order to stay ahead of the competition portraying the company's strengths and unique proposition to customers worldwide. <<Opportunity lost.   This is generic, poorly worded boilerplate.>>

It will take a business-perspective allowing readers to get a clear picture of the company, the culture and value that drives it towards excellence. Focusing on the company's vision, mission and future plan, we will also talk about the CEO's leadership and the challenges in steering the company. <<More generic boilerplate.   The more I read, the less I feel he knows about the company he is targeting>>

 

If you want to explore this peachy opportunity, you will get five full Page of Space to cover all your company features, products and Services along with all that you will get more visibility as you will be on the cover page. <<Aha, this is really an advertising request, which could probably have been assumed.  And "peachy" is always an adjective that gets me in a buying mode--not>>

For The 50 Fastest Growing [Industry] Companies listing, you will get the below benefits:-

 

1. Five full page of profile in the print as well as online magazine about your company aspects and details, along with CEO picture.
2. Image of CEO on the cover page.
3. Four full page advertisement in the magazine that can be utilized any month from signing the contract till one year.
4. Five complimentary copies of the print magazine.
5. We will provide you print ready high res PDF of your profile with reprint rights.
6. We will share with you logo of the listing as well as online company profile’s link to use on your website, media and press release.

 

The above benefit includes a nominal sponsorship of $6000 USD for the cover feature. <<Those aren't benefits, those  are just features...and sponsoring is clearly a magical "code" word>>

Please let me know if you would be interested to opt for the cover story option. I am sure you will agree as this will be a good branding exercise for you. <<Trial close>>

 

I am looking forward to a positive response from your end. <<Trial close again>>

Best Regards,

<<Contact name>>

As  I mentioned, on first read, this was not awful, but closer inspection made me view it as an opportunity missed.  There is nothing in this that reflects why they targeted this firm.  And there is nothing about the value of advertising in this publication.  Nothing about readership.  Nothing about reach.   Ultimately it is a pretty empty promise---unless the publication was a known brand with known impact (but then it probably wouldn't cost only $6K for this, though--right?).  If no one knows or respects the publication, then how is it a good branding exercise?

My friend responded (maybe that was a mistake) with a polite "we'll pass."

But this rep is tenacious.  He does not take no for an answer.   So he gives it another try (and succeeds in getting covered here):

Dear [My Friend],

I really respect your decision. <<But I am going to come back at you anyway>>

 

Well, it would be really appreciated if you can let me know if there is any budget issue for this opportunity, so I can go to my Management and discuss with them and I will try my best to convince them with your budget. As you are coming first time and we believe in a long term relationship with company.  <<This is where it falls apart for me.   A branding effort and the immediate assumed objection is price?  Really?   Nothing about the value.   And all kinds of sloppy wording.  This just closes the door, IMO, for ever working with this publication.>>

 

We assured you this Cover Story will offer you a great opportunity to optimize your visibility for an influential audience <<An audience that we refuse to tell you about--and have no information on their web site (I checked)>> as you will get five full page of profile to explain in depth about your company product/services which will be circulated globally and lots of top level decision makers will come to know about your company’s offering. Your current customers will also be a lot more comfortable doing business with you as you are recognized by a media company. <<A media company with no evidence of any readership of circulation>>

 

I look forward to hear from you.

 

Best Regards,

[Contact Name]

So, based on this response, maybe this is not such a great branding opportunity.  On the surface, it was loaded with potential value.   But  that value was never explained (which really proved that the real potential was not as good as it looked).  And a blanket no was immediately assumed to be an issue with price.

If you have a real value, your response to a blanket objection--if you truly believe there is real value for the customer--should be to explain that value.  Try to shift their perspective.  He could have written about the readership, or about  the  credibility of the publication.  If circulation is small, make the case for this being a value opportunity with an up and coming magazine  by highlighting other firms that have been covered (or even sponsored).

Or, just drop your price and reinforce the decision that this is not worth the energy.

Hope you enjoyed this different style of #FridayFails.