Title - Pay peanuts and you get monkey’s Tags - quote
“Pay peanuts and you get monkeys.”
What a great expression from Ogilvy, who was expressing the idea that price inducements only provide a temporary boost in sales, don’t provide long-term advantage, and are like a drug addiction.
Ogilvy also noted that “the rascals who sell their product by cutting the price, expect me to sell my product at a cut price.”
Clients who haggle overagency compensation, he said, are “looking through the wrong end of the telescope.”
Rather than trying to save a little of the 15% they pay agencies, they should seek better sales results from the 85% they invest in time and space, because that’s where most of the leverage is.
Plus, if you skimp on agency fees, your advertising will suffer.
Pay peanuts and you get monkey’s.
[#ogilvy2012unpublished]: David Ogilvy (2012): The Unpublished David Ogilvy, Profile Books.