Are You Worth Your Price?
A few days ago, I submitted two proposals to update websites. While they needed different things, I gave both of them the same deal: a web audit and then website updates based on the recommendations needed. The interactions between both people were beyond different.
The first one was for a writing company that was looking to make their site responsive on mobile devices. Several people had given an offer, but mine was the most expensive. I easily got asked “what makes you worth the higher price?” My answer was simple: I provided value. I have a team of people that work with me to give the best experience possible and the web audit provides clarity into other issues the client may not know about, which is going above and beyond what is asked for. The woman recruiting was very impressed with my answers, but didn’t hire me because of the price.
The other one was for a lifestyle brand that was looking to tweak their design to improve the user experience. This time, I was speaking directly to the person owning the site, but the marketer who was helping her with her brand. I gave her the same deal I gave the previous company, but I got a different question, “Is your price the same regardless of the scope of work?'“ After chatting with her more, I was able to raise my price and be accepted for that cost as I was seen as worthy of costing that much.
The topic of how much you charge for your services comes up a lot when you’re a freelancer or entrepreneur.
If you charge too low, you can’t pay your bills. If you charge too high, you alienate your core base. So how do you know how much to charge? You listen to your target audience. They already have an idea of what they want to pay for your services and know they can’t do certain things themselves. It’s your job to listen to them and provide a price that shows off your value to their business.
I’ve had several people tell me that my prices are too high for what I’m offering, including people in my own industry. Guess what? They weren’t part of my target audience and were expecting lower prices because they wanted a better deal. If you play the price game, it’s going to be a race to the bottom because someone is always going to be cheaper. If you play the value game, you’ll get the clients who see how much you’re worth.