Showing posts with label rates. Show all posts
Showing posts with label rates. Show all posts

Thursday, January 14, 2010

Thanks, but No Thanks

This week I did something that completely went against what I felt compelled to do. Even though it was was difficult, I know I did the right thing. I turned down a potential client because they refused to pay my quoted rate.

Okay, let me back up a bit – I HAVE turned clients away before for trying to convince me to practically do projects for nothing. I do have SOME pride. But I'll admit - I’ve been known to lower my rates because I believed a bird in the hand is better than no bird at all. Not any more.

I have taken a lot of time to set fair rates based on my experience, my knowledge, ability and desire to provide clients with real value. My services and skills are evolving as I continue to learn as much as I can about online marketing strategies, direct response, SEO and improve my writing skills. I have researched industry rates, the rates for my niche and settled on a very fair pricing structure for my services. And it has worth.

It’s tempting to cut your rates when you need work, but you send a message to your client that they shouldn’t be expected to pay well for response driven content that produces the results that will help them make more money. That doesn't make much sense.

There’s nothing wrong with giving out a special discount now and then, but you shouldn’t feel pressured into lowering your rates. I wouldn’t ask my ophthalmologist, dentist or local dry cleaning service to lower their prices. If I don’t believe I’m worth what I charge, who will?

Monday, November 16, 2009

Should Rates be Posted on Your Website?

About a year ago, when I was first getting started, I set up a very simple website using a free online template. It was nothing fancy, but it allowed me to establish an online presence and post a portfolio so that prospects could review examples of my work.


Since at the time I only provided a couple of different writing services, I thought it might be a good idea to post my rates. Whenever I would send out queries to various online businesses, I included a link to my portfolio page which included rates.

Clients like knowing rates upfront



I liked doing this because if someone felt my rates were too high, they could simply move on instead of wasting time emailing back and forth about services they had no intention of paying my established rates for. If a prospect liked my portfolio and found my rates acceptable, things moved along rather quickly since they had already seen everything spelled out on my website.


Rates may vary depending on...


Fast forward a year later. I tweaked the name of my business, had a designer create a custom website template, and added a few new writing services to the mix. This time I decided not include rate information because as I explain in my FAQs, each project is unique and requires a different approach when it comes to research, development, etc. Mind you, I still offer a few flat rate services as well (e.g. press releases and blog posts); I just don't post the rates.


Some writers say they don’t include rates on their websites for reasons similar to mine. Still, I can’t help noticing that when I did post prices for everyone to see, I spent a lot less time dealing with prospects that thought I charged too much. Posting rates seemed to weed those guys out.


To post or not to post rates

I spent some time reviewing a few freelance writing websites over the weekend and of course found a mix of some writers who choose to post rates and some writers who prefer not to. What’s your position about posting hourly or flat rates on your website?

Friday, May 15, 2009

In Honor of Writer's Worth Day

Have you noticed the lovely, little logo to the left with the caption that reads, "Talent is Priceless?" Well, Lori Widmer, a writer I admire, has officially declared today Writers Appreciation Day. Today is a day for us to take a moment to consider everything that we put into writing for our clients. Whether you write articles, whitepapers, brochures or expertly crafted sales letters and landing pages, the process you go through to create the final product has worth.

The low rate writing cycle

I started freelancing online back in September of 2007. I knew very little about web writing, so I went from writer's forum to writer's forum learning as much as I could about which projects were in demand, getting clients and figuring out what to charge.

While I didn't start off writing $5 articles, I was certainly guilty of accepting low pay gigs. I was spending much more of my time networking with other writers who considered those rates typical. As I did my research, I discovered I wasn't even charging average industry rates on many projects. It took me some time to realize that I really had two problems: not charging enough and a clientele that expected low rates.

Setting goals

It's not easy to raise rates on existing clients. I learned that the key to getting better rates was finding clients that knew the value of the service I provided and were willing to pay well. This meant I needed to focus on a completely different target market. I also tried to learn as much as possible from veteran writers, like Lori, who were already doing what I wanted to do.

Why low rate writers are bad for business

A lot of writers are becoming frustrated at the number of potential clients out there seeking writing services for peanuts. At first it was easy to ignore. You figured that if another writer wanted to write a 500 word article for $2.50 so be it. But in the end it really does affect us all.

It may seem like a good idea to charge clients bargain basement prices in this economy, but when things recover where can you really go from there? You'll have a tough time raising rates if you start low. You'll eventually burn out trying to get enough low pay work to pay the bills. A writer deserves to at least make more than minimum wage.

Figuring out what to charge

Setting rates can be tricky when you're first getting started, but there are a lot of pricing guides out there to help you get started. Try this one and this one. Sure, you might start out on the low end when you get started, but your value increases as you get more experience. Take the time to find clients that appreciate what you do and will pay accordingly.

Friday, April 3, 2009

Raising Freelance Writing Rates in a Recession

After lots of careful consideration over the past month, I decided to raise the rates of my older clients. See, I'd technically raised my rates quite some time ago after burning out on a couple of projects and being enlightened by Jennifer Mattern's guest post.

What was I thinking?

At first I thought it would be wrong to make those older clients start paying more; but then my husband looked at me like I was crazy and asked, "Aren't you running a business?" Oh yeah, that's right. I am!

Giving them a "head's up"

I sent the email out last week letting them know about the changes that would occur. Some responded in support for my decision, some didn't. You can't win 'em all, and that's why you should always be marketing your writing services anyway.

I believe the new rates are very reasonable – I've still managed to get new clients who don't bat an eye at the "new" rate quotes. So why was I so hesitant to get everyone on board all at once?

Okay, so here's the truth…

Honestly, I think deep down I was afraid of loosing them, even though I was trying to convince myself that I deserved better. It's kind of like being reluctant to let go of a bad relationship where you give much more than you get. I wouldn't stand for that, so why put up with it when it comes to my livelihood?

I prepared myself to loose all of those clients, so it was a pleasant surprise to see that a few have decided to stick with me. The best part of this story is that I know my worth as a writer and service based business. I know what I deliver, and I'm worth every penny.

Tuesday, January 27, 2009

Getting Paid What You're Worth

One of the biggest hurdles for new freelancing web writers is establishing rates. Where do you start? Should you charge clients a flat rate or charge hourly? Do you post your rates on your website, or avoid doing so to throw off the competition and give you more flexibility to charge projects on a case by case basis? Many web writers are settling for much lower rates than they deserve because they don't know what to what to do.

Posting a rate card on your site

See, to me the best part about freelancing is that you do what works for you; and if it stops working you can always switch things up. Except for a few constants that should remain consistent at all times: professionalism and meeting all deadlines with no excuses, proof reading/editing copy before submitting it to a client, marketing your services and having a website with portfolio are a given. Should you post your rates on your website? I post some rates on my site because it lets clients searching for $5 article writers know to keep searching somewhere else. It's a big waste of my time to send emails back and forth about a potential project with someone not prepared to pay my rates.

Reasons not to reveal your rates upfront

On the other hand, another well established and respected writer recently revealed that she never lists rates on her site because it allows her establish rates both she and individual clients can live with more easily. I can see how that works to her advantage. I guess this is one of those situations where you just have to pick your poison and do what works best for you. You can always change it if it doesn't seem to be working out.

Figuring out how much to charge

So what do you charge your clients? This had to be the single most annoying thing for me to figure out when I was first started freelancing. I underpriced myself on quite a few projects considering the work that was involved. Most freelancers won't willingly give up their rates, and you shouldn't blindly charge what someone else is charging. Consider the fact that exerience, where you live and the cost of living has a lot to do with setting rates. Here is a pricing guideline that might help both new and established freelance writers earn rates that make all of the effort put into this business worthwhile.

Tuesday, July 8, 2008

Setting Rates You Can Live With

It's a classic struggle – how should you set the rates for your freelance writing services? If you are just getting started as a freelance writer, trying to figure out what to charge can become a real pain. You worry about overcharging and having prospects pass you over for writers charging more modest prices. But at the same time, you're counting on freelance writing to pay the bills. This is no time to throw caution to the wind and start pulling rates out of a hat.

Research, research, research
If you start networking with other writers on forums, egroups and other social networking groups, you will begin to see a wide range of what writers are charging for their services. Many writers don't feel all that comfortable discussing their rates. In my case, some of the services I provide clients depend on a variety of factors. Will I need to develop the project from scratch, or is the research involved minimal? I charge a flat rate for some services, but for others it's just not that easy to determine without discussing the project indepth first.

Bidding sites versus getting clients on your own
I'm not going to get into a huge discussion about whether or not freelance writers should utilize bidding sites or not. Some writers swear these sites provide them with a steady income, while other writers seem to have more luck seeking out clients on their own. Personally I fall into the second category, but regardless of which method you prefer to build your business, you have to insist on getting fair rates for your services.

How do you know what to charge?
When I first started working as a freelance writer, I had a lot of trouble figuring out what to charge for projects. Most of the time I priced my services too low considering the work involved. I quickly realized I needed some help in this area. Two things helped me: I joined a freelance writer's Yahoo egroup, and I used the rate sheet that comes in each issue of Writer's Market as a pricing guide. The thing I like about the rate sheet is it gives you a clear point of reference for setting low, average and high rates for specific writing projects. If I come across a project not listed in Writer's Market, I consult with my egroup for feedback. We are dedicated to keeping one another from winding up as "starving artists."

Should you raise your rates?
I participated in a teleseminar a month ago that discussed setting rates as a small business. The speaker advised that businesses initiate regular rate increases to keep up with economic changes. A lot of freelance writers hesitate to raise their rates, fearing that they might price themselves out of work. This is an issue every small business must deal with at some point. But first you have to know what you need in terms of monthly (and yearly) income to survive.

This requires you to list your expenses and start crunching some numbers. List your expenses. The totaled amount is what you need to make to get there. This is an important part of establishing rates that will help you reach your monthly financial goal. Target the right market that is willing pay for your skills, and keep marketing your services. The more you work as a writer, the easier it will get to set rates both you and your clients can live with.
 
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