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Agency owners love to ask what others are charging or what services they are providing. They dig into the competition for insight on their own planning.

Chip and Gini argue that while competitive intelligence can be helpful, it should be one of the last steps in the process, not the first.

Figure out the pricing that works for your cost structure and delivers the profit margin you want. Test it with prospects to see if it works. If it doesn’t, see how you can tweak it. If it works, try increasing the price next time around.

Chip’s grandfather once cautioned him to not try to “keep up with the Joneses” and that’s good advice here. Build the agency you want, not one patterned on what the competition is up to.

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About Chip Griffin

Chip Griffin is the Founder & CEO of the Small Agency Growth Alliance (SAGA) and a longtime agency owner and executive. He helps PR and marketing communications agencies build better businesses. Full bio