It Is Not About The Price, It Is All About The Value

Some freelancers fear to request a fair rate for their services. This may be due to many social factors. They might be scared that requesting a higher fee might scare the clients. However, this is very far from the truth. It is true that your bid range is a factor your client will consider while estimating whether to hire you or not. But it is important to remember that what you are providing your client is a service that brings value to his business or life. So never under-price yourself!

Do Not Set Your Rates Low Expecting To Get More Jobs

Good quality clients are actually willing to pay higher rates if they are sure they will achieve the desired results from the project. They do not want to lose their time and money with cheap people that do a poor job. This is why quality clients often select freelancers that are charging higher rates, but they are experts in their field, and they are sure to receive excellent service.

HIGHLIGHT THE VALUE THE CLIENT IS GETTING

This is why you need to keep in mind the value that you are bringing to your client and to highlight this to them when you are making your offer. At the very start of your career, you do not have the experience and reputation to charge high fees. But once you get established on the platform – make sure to know your value well and start increasing your rate according to the goals you have set.

DO NOT CHARGE ALL YOUR CLIENTS THE SAME RATES

Not all clients you will encounter in your freelancing career will be the same. Some startups, for example, have a limited budget. Working with them can be uncertain as they are not established on the market, and they do not have a steady stream of income. You may decide to help them and charge them a rate that they can afford.

However, when you work with a multinational well-known company that is already steady on the market, you can comfortably ask them a higher fee and they will be willing to provide for your expenses, as long as they get their required service and outcome. So, before you start working with a client or company, do your research beforehand and adjust your rates based on your research!

PER HOUR AND FIXED PRICE

In the freelancing world, projects can be priced per hour or by fixed price. Some freelancers prefer per hour pricing because it is easier for them, and they have the guarantee that each hour worked will be an hour paid. This is very good if you are a beginner in freelancing and you want to explore the market and your industry.

However, experienced freelancers prefer working per project. This way they focus on the value the completion of the project will bring to their client and not on the hours that they need to create it. In fact, you can offer a project and charge for it thousands of dollars, if you are sure it will make or save tens of thousands of dollars to your client! You can complete it in just one or two hours, this is not important to your client. What matters is the result or outcome you are providing!

Remember, your services are making or saving money for your client. So, consider the solution you are providing from the client’s perspective and value your work accordingly!

Tips on establishing your price:

• Do research among other professionals in your industry
• Do a calculation of your expenses and needs
• Set clear goals of your rates
• Start on the lower range and gradually increase
• Use an online calculator as a reference
• Research your client and their business beforehand
• Keep in mind the value you are providing

What to avoid:

• Setting a low rate for your service can turn off good potential clients
• Charge all clients the same rates