Posted by Kathleen Moore, CastleView 3D:
I was talking recently with a potential client, a builder from New Jersey, about doing some 3D renderings for him and his clients. He was very impressed with the quality of my work, but when we got around to discussing prices, he balked.
He said, “Down here people aren’t willing to pay a lot for 3D renderings, although they can see the value of them immediately.” I’d like to say I was shocked, but unfortunately this was not the first time I’d heard a statement like that — and not just from New Jersey.
So how does someone make a decision about “value” and the price they’re willing to pay for something they admittedly perceive as being of value to them?
A current client recently called to rave about the benefits of 3D visualization for him and his wife in the process of remodeling and redecorating their home:
- saves money
- saves time
- aids decision-making
- reduces aggravation
- improves communication
- eliminates costly re-dos and change orders
- increases peace of mind
I’d say those things are priceless! This couple feels that, for their money, 3D visualization offers a great return on investment.
I recently conducted some impromptu focus groups with women attending a higher education conference. All of them were well-educated, all were homeowners, and all at some point had either built or remodeled their home — sometimes numerous times. But before our discussion, the majority of these women were not even aware that 3D visualization was an option for them — they thought it was just high-end pixel magic they had seen on HGTV or in million-dollar architectural presentations!
As we talked, their feeling was that 3D visualization and renderings would be of such value to them in their building and remodeling projects that they would be willing to pay 5-10% of the total cost of the project, depending on size and complexity, to be able to actually see and make decisions about their project in advance. That’s quite a different story than the one I got from the New Jersey builder and others.
So, how do you approach the value proposition? How do you decide what’s it worth to be able to “see it before you build it”?