Do you advertise your prices/rates?
I've recently been working to productise my brand identity design service by offering 3 packages to small and medium sized enterprises that may be considering taking their business to the next level.
I've been grappling with whether or not to put prices on these packages - perhaps a 'from' price, or even a range, but I see the majority of my peers seem to use POA (price on application).
What's your experience of this - does being transparent with your rates help or hinder you?
Replies9
- @Scott Morrison Great advice - thank you
- Positioning is critical here.Make a clear statement about the type of clients you like working with (eg ambitious clients)Show who you’ve worked with and at what scale.Create a downloadable ‘product cost indicator’ with your prices for your products prefaced with a ‘from’ - this allows you to negotiate up if there’s bigger scope.Reason it’s downloadable is then you know who has downloaded it. They’re more likely to have an interest in your work if they’ve got that far. And you can follow up with them with a programmable email system to create more value to them in the sales cycle (eg FAQs, testimonials, free content).Stay Boom!S
- I do advertise my daily rates because I think it's useful for the clients to understand my seniority (and I spent so much time making proposals when the price level they expected was the one of a junior designer) . I don't offer packages because - unless it's a fixed product - it's very difficult to estimate and each client is different.
- I think it helps to let prospects know what they're paying for when they purchase a service, rather than listing rates. If you guide them and give them as much information as possible about what goes into your service, they will see the value. You can also help by informing them how to keep your fees as economical as possible. Things like writing a clear brief will lead to less amends which makes your offering more cost-effective.
- Price positions a business (as does quality), a couple of universal truths are there is always someone younger and cheaper than you are.It depends on how you are communicating the rest of your offering, you need to know your market very well in my view if you want to clearly step away from those promoting their business on price.It is very difficult to justify your pricing to a prospect if you don't get invited to bid. Particulalry if a prospect has already taken that decision out of your hands by not inviting you having seen your prices, - even if you are in fact the best person for the job but neither of you yet know why.
- I'd say yes to advertising prices for products, like those in an online shop e.t.c. - but with services every client is different, so it's best to probably tailor prices to the needs of each client :)
- Hi Graham,I personally think to put prices out there makes it seem if you would offer a one fit for all service, between the idea of branding to find the uniqueness of a brand. Also I never had two projects in life where they asked / needed the exact same thing so it doesn't really solve the purpose. However based on my experience it does make sense to say what is the minimum they have to spend when they get in touch, but also clarify it can be much more and offer an intro call when we discuss deliverables and based on that I give an official quote.
- Every project is different. I think the calibre of your work should speak for itself and all one must do is ask if they are not sure. Always keep an open and clear dialogue. Break down prices by category and explain if needed.As I was told by someone working at the top level, if you have to ask, you can't afford it...
- It depends. I offer a service rather than products, and while I have concrete rates, I'd rather have a conversation with a client about budget/fees so we're both comfortable with all that entails. I can tell a lot about a client about how they talk about money and it helps cement relationships between clients and me.That said, if I did offer products - for instance, pre-made book covers - I'd absolutely advertise prices.
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