How do I price myself as a freelance writer? This is the second most asked question after “How do I get clients?”
Interestingly every top freelance writer once had this question plaguing their minds and I so much believed that how they answered this question contributed to their success.
Back then I remembered an incident that transpired between me and my first client. She had asked “So how much will it cost me for 5 articles?”
I’m sure you’re wondering my response, well, I didn’t have any. I asked the client to pay me whatever amount she could. She was surprised by my response but didn’t make a big deal of it. She agreed to that and I happily got to work. At the end of the project, I got my pay. It was marvelous in my eyes at the time. Unknown to me in the past, I was paid about 40% less than what I was supposed to get for that kind of project.
Looking back at it now, I don’t blame my client. I could say I was cheated but then again it is solely my responsibility to control how much I earn as a freelancer.
As a freelance writer, you have the opportunity to develop your own price range based on your skills and the types of writing services you offer.
However, this doesn’t always come easy. You want to price yourself well and at the same time offer reasonable rates that clients are comfortable with.
And in this article you’ll discover 6 intricate steps to arrive at a standard fee as a new freelance writer.
Let’s dive in.
HOW DO I PRICE MYSELF AS A FREELANCE WRITER?
Now, before we talk more about pricing, a little piece of information about freelancing. It is an incredibly versatile method of working that gives you a chance to work at your own pace and set up your own time.
However, just like any other industry, there are people working in it way longer than you have. Certainly, their rates and your rates cannot be the same. They are offering years of experience and knowledge that you, as a beginner, are just starting to gather. So in as much as you want to be making a lot of money like the big guys, you need to understand that your clients are not stupid. They will not pay you the same amount as they would pay a freelancer with 5 to 10 years’ experience.
Addressing what you should charge as a beginning freelance writer is very important, because too many times in the past, I have witnessed some budding freelance writers lose potential clients just because they were insisting on a price range that was way above their expertise.
That takes us to the first point in this article:
- Be wise: One thing to fully understand is that you’re going to need to place flexible prices on your services.
This is important because no matter the job, you need to be careful not to enforce your price on your client. Always be assertive with your price ranges, but be careful not to chase off potential clients because you’re placing a ridiculous price tag for your skill set.
Set prices that are reasonable and will attract the right type of clients that you’re looking for. Pitching clients and sending out proposals is not easy. Prospective clients are more likely to hire you when your rates are at a rational point. Having a good rate makes the hustle a lot easier.
- Stay open to negotiations: Speak to your clients with a sense of understanding. This means that you are open for negotiations once a client walks through the door.
Think about it from their perspective and try to see where they are coming from. They need to hire a freelancer for a project and already they have exceeded their budget on other expenses. Be willing to meet in the middle and strike a balance between assertiveness and consideration.
Stand your ground but not too firmly so they don’t walk out the door, but strong enough to still get a deal that’s good for you and great for your client. Remember, if you do an excellent job, they might love to work with you again in the future and so already you’re building connections with your clientele.
- Research, Research, Research: This is the only way you’re going to get solid information about the market prices and see what other freelancers are charging for their services. Rates vary from country to country and from region to region so be particular about that too.
Also, narrow down your research to writers who work in the same niche as you do and offer the same kind of written content. This provides a clearer picture as to what your prices should be and how you can set your own rates.
Don’t forget about experience level. It plays a big part in how much clients are willing to pay and your final earnings as a freelance writer. More experienced writers will most likely be earning more so search for rates according to your expertise.
- Full-time or Part-time freelancer?: Ask yourself this question. It’ll help you figure out how much you need to be earning per month.
Are you doing freelancing full-time or part-time? Do you need just some extra cash to add to your existing job or are you looking to make freelancing a full-time career? Asking these questions provides insight into your finances and helps you see how much you should be charging your clients. Remember that you do not have to work with one client.
If you can, offering services for two or more clients can help you reach your financial goals. So be honest with yourself, that way you get the most practical solutions that can be implemented easily.
- Choose your pricing method: What I mean by this, is for you to choose the best pricing option for your services. As a freelance writer, you can place rates per hour, per page, per word, per article, per project etc.
Whatever method you decide to use can vary from client to client. But if you do choose one method, try to stick with it as it will help form the basis of your rates and charges.
- More work, more money: This last point just places emphasis on the benefit of gaining experience and improving your skills.
The more you work, the more you get. It’s as simple as that. Do not be afraid to adjust your rates as your skills improve and your experience expands.
You deserve to be paid well for the expertise you offer. As you gain experience, make necessary changes to your prices. Not only will this increase your income, but you become a respected freelancer when you charge reasonably.
In summary, pricing as a freelance writer can challenging but with these 6 tips, you’re already on the right track to a great freelancing career whether full-time or part-time. Save this article for later so you can always come back to it and share to your community to help them out as well. Feel free to drop a comment if you like this post.
If you find this article helpful please leave a comment and want to learn more about how to scale up as a freelance writer as shared by Sheharyar popularly known as POSTMAN on LinkedIn because he delivers the daily post then click here, to follow him on Linkedin click here.
