Clients make decisions based on expertise, price and reliability. So how can you make the best decision when it comes to setting your fees?
1 – CONSIDER THE VALUE OF YOUR WORK
Evaluate your experience, the time and effort you put into your work and the value you offer to your clients, especially compared to your competitors.
2 – KNOW THE STANDARD PRICES OF THE INDUSTRY
You should know how much everyone else is charging so you can set a price which is not too high or too low compared to everyone else.
3- LEARN TO ASK FOR THE PRICE YOU WANT
Know your worth and practice asking for it until you don’t doubt yourself. Remember that your prices will reflect how much you value your work.
Author Julie Murphy Casserly says: “If your fees are too low because the perception is that you must not be as good as your competition.”
Rebekah Epstein, Founder of Fifteen Media agrees: “When providing a service, if you don’t charge enough, you are saying that you aren’t the best at what you do.”
4- FOCUS ON CLIENTS WHO CAN PAY YOU
Focus more on clients who can afford the price you set for your work, rather than having a bigger number of clients who can’t pay.
5-EXPLORE YOUR OPTIONS
You can try exploring different pricing options and increase your rates over time.
“The key is that over time, [you should] create systems that slightly increase your fees enough to keep the business Rolling…” Julie Murphy Casserly recommends.
Source:
Rebekah Epstein, How Much Should I Charge Clients
Margaret Kelsey, Money Talks: Charge What You’re Worth
