Your Freelance Writing Rates are too high
Have you ever been told that your freelance writing rates are too high? If not, it is safe to say that you are not charging enough for your services. When it comes down to it, there will always be clients who do not want to pay you what you are worth. Instead, they will want your high quality but at a lower price. The question is: what are you going to do when a client tells that you that they cannot afford you?
Believe it or not, many freelance writers take this as an insult. In other words, they let clients dictate future rates. No matter what you are told, you are allowed to charge whatever you feel is fair for your services. Of course, if you charge too much you will never find any new clients, but this is still within your rights. Even if a few potential clients tell you that you are charging too much, it does not necessarily make them right. You may want to consider their suggestions, but in the end you need to make the call on whether or not you change your rates.
How do I know if my freelance writing rates really are too high? Simply put, if you are charging an enormously high amount you are going to find it tough to obtain even one client. The market will more or less tell you how much they are willing to pay for your services, as well as those offered by other writers. But to go along with this, keep in mind that the market is huge. One buyer may feel that $10 is fair for a 500 word keyword article. Another may have no problem paying in upwards of $100. This is what can make it so difficult to determine whether or not your freelance writing rates are reasonable.
You should never be afraid to experiment with your rates. If you are not obtaining any new clients because they all say you are charging too much, negotiate down a bit. Just make sure that you keep your overall hourly rate in mind when doing so. On the other side of things, if you are receiving a lot of new work and clients are telling you that your services are a “bargain” you may want to consider increasing your rates a bit.
One of the most difficult parts of becoming a successful freelance writer is learning how much to charge, and how much clients are willing to pay. Once you become comfortable in these areas you will find it easy to maximize profits while regularly signing up new clients.
June 24th, 2008 at 11:45 am
Chris, I’ve found that negotiating rates to be one of the most stressful issues with freelancing. There have been two recent situations where clients were impressed with my work and not with my rates. Both of these projects were large, one was an e-book and the other needed about 5-6 pages of copy for their website.
I didn’t get either job, and I’m fairly certain it’s because they didn’t want to pay the price. Later, I was expressing my anxiety to a friend and seasoned writer, she assured me that I should never feel bad about sticking to my rates. I think it’s best to hold out for clients that are willing to pay for your work instead of lowering your rate just to get jobs.
Where do you draw the line? How far are you willing to go on your rate before you decide that the project isn’t worthwhile?
June 24th, 2008 at 11:47 am
I forgot to mention that just a few days after dealing with both of those potential clients, somebody found me who was willing to pay my rates. That job was about 12 billable hours, and they’re using me again!
June 24th, 2008 at 12:17 pm
I’ve been told that many, many times. But, I have no problem getting clients. Since that’s the case, I don’t think my rates are anywhere near too high.
June 24th, 2008 at 10:42 pm
The deal breaker usually always comes down to your rates. However, it may carry a sense of quality to it. Higher rates equal higher quality, right? Well, if you are charging bigger prices be sure to provide that sense of quality.
Unfortunately, I’ve worked with writers and designers that have charged me more than what would be expected from the work they provided me with.
I do agree, though, that once you set a successful rate (one that some clients are willing to pay for) you need to stick with it. Don’t back down because if you do it once, they will take advantage of you again.
Justin
June 25th, 2008 at 8:33 am
Hi Chris
I’ve had that - where some clients have said my rates are too high. That’s their perspective, not mine.
I don’t lower my rates because I’ve experienced what’s possible - I’ve been paid by clients at those rates that others deem to be too high. So why would I settle for less knowing what’s possible?
I’ve pass by your blog often but have hardly ever commented so here’s an official ‘hello’ and a ‘thank ya’ for all those great posts.
take care…
June 25th, 2008 at 8:34 am
did I say ‘I’ve pass’? - (tut, tut) - I meant ‘I’ve passed’.
take care…