5 Ways to Strategically Price Your Rates
Posted: February 28th, 2012 | Author: Genevieve DeGuzman | Filed under: Articles, Entrepreneurship & Business | Tags: business, freelance rates, FreelanceSwitch, price strategy | Comments OffHow you price your business services makes a big difference in how your business is viewed by prospective clients. For solopreneurs and small businesses, especially those just starting out, the tendency is to price work on the low end to generate client leads and interest. But what they end up doing is attracting the cutthroat bargain hunters— not a sustainable client base to have in the long run. Building your business brand starts with the price tag you put on your services. When you first begin working with clients, your rates send a message to prospective buyers: “This is what I’m worth.” If you price too low to undercut competition, you end up sending the message that you aren’t confident in your abilities, and that you’ll take any job at any price.
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Learn how to read between the lines to understand what their end game is. You’ll be surprised at how amenable clients are to approaching the discussion and scoping process in a more deliberate and conscientious way. Clients that put pressure on you to speed things up are generally “problem clients” and should be avoided. Read more at FreelanceSwitch.
