Editor's note: Over the next few days, enjoy an 8-part series on disruptions that may affect your business in 2018 and beyond. They are:
Part 1: Natural Disasters and Disaster Relief
Part 2: Ownership & Planning for the Next Generation
Part 6: Sustainability & Food Waste Concerns
Part 7: Commodity vs Expertise
Check back often for the next installment!
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Commodity vs Expertise
Walk into any architectural office and you will be charged for a consultation. You meet with a degreed architect or designer, who has a portfolio for you to scrutinize. You may have also seen the architect’s work implemented when attending a Parade of Homes.
Walk into an interior design firm and it’s a similar circumstance. We don’t blink an eye to make a spend on a consultation charge because expertise is valued.
There is an expertise in the catering and event industry, however, that we don’t generally discuss with clients and most companies do not know how to charge for, despite our degrees, portfolios, and tastings. The art of executing on an event, understanding crowd flow, delivering food hot and on time, deal with an event crisis or a food allergy concern—and all the things clients take for granted—we don’t necessarily charge for. Why is it that commodity undermines expertise?
We did this to ourselves.
As long as there is one company willing to undercut and not charge for expertise, we will always be behind the 8 ball.
Photo courtesy Brandon Kidd Photography
Anticipate disruption: As ad agencies begin to take over event planning with increased frequency—and face it—they have the whole package: marketing plans, branding, and creating experiential events for their clients, we can capitalize on this trend. How so? Take a note from the Ad Agency playbook because heaven knows, they’re not designing client experiences for free. Use this: “I would love to partner on this wedding event with you. I will provide you a concept, and my fee is this.” Do away with the smoke and mirrors of a client only seeing the end result when they walk into a space. Explain and detail the pretty bows on your expertly wrapped package. Make sure you convey that part of the package includes the things that come intuitively to you, for that expertise that is part and parcel of the execution of a successful event.
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Tomorrow our final installment: Food Trends!!
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