We were in talks with a FORTUNE 1000 brand marketer recently, who described one of the challenges they’d faced with prior agencies: “It’s not that they didn’t come up with some great ideas; it’s just that all of those ideas seemed to come with a $100K+ price tag to execute.”
It’s not that a $100K+ idea (or million-dollar idea for that matter) can’t be awesome and effective, either; but it’s also true that the appetite for such initiatives is naturally small. There are only so many times you can convince a client to do such things. Because they tend to be elaborate they take a while to pull off (that’s an opportunity cost, right there). And in every case the price of failure is high; every project of this nature is born with a target on its back.
Gimme cheap and fast any day. Cheap, fast ideas can also be awesome and effective. They’re low-cost so you can do them far more often. They are NOT low-risk, especially for a big brand with high exposure risks, but, there is far more forgiveness for breaking stuff if you didn’t also break the bank.
Posted on: February 18, 2013 at 9:24 am By Todd Defren