Are you finding it difficult to price your freelance services? The thought of setting your own rates might seem exciting at first, but it can quickly become a daunting task.
The dilemma of not wanting to undercharge and undervalue your work, but also not wanting to scare away potential clients with rates that are too high, can be overwhelming.
However, with the right strategy, you can price your services confidently without leaving money on the table. Let’s take a look.
Factors to consider when pricing
Before diving into how to price your freelance services, it’s essential to understand the different factors that impact the rates. Market rates, experience and value-added services are the core considerations when it comes to pricing.
Researching and comparing industry-standard rates for similar services in your area will give you a good idea of where to start. If you're just starting out, you may need to offer your services at a lower rate before establishing yourself as a competitive player.
Your experience level is also a vital factor that can help you justify higher rates. If you have years of expertise in a particular area, for instance, writing about scheduling, it’s reasonable to charge more for your services than someone who is new. Good customer ratings can also help you justify this.
Finally, offering value-added services such as additional revisions, quick turnaround times or extra consultations can help you charge higher rates.