So you are a fresh freelancer, you have a properly filled profile, good working skills and some minor work history. The time has come to work on the pricing strategy. A big part of freelancers starts to plan the income and that is wrong. Usually freelancing has no fixed salary, so there is no need to drop a project if it does not fit your salary paradigm. The first thing that you need to remember is — don’t try to fool yourself and the client. It is always better to say the truth. If you ask more because of the quality of your work, tell it to the client. If the rates for this project are too low tell it to the client. Your pricing strategy must have one simple basis — the amount of money that you need for living. The work of a freelancer is hard and at some points you will be definitely left without a large, profitable main project. During such times it is vital to reconsider your salary. A good solution is to have few pricing schemes that include different rates for your main types of jobs. As a good real life example I have minimal and preferable rate. Usually I post the preferable one, or a little less than preferable and I also post the minimal one (for a possible large project) in case the client has more work. Pricing for large projects is tricky. On the one hand I usually offer lower prices if the project is large and ongoing. On the other hand during large projects (especially if you need to be available for some tasks 24/7) it is okay to ask for some additional payment for reliability.
Keep in mind that you are advertising yourself to the buyer and use the most effective strategies of advertising. For example everyone knows that buying a larger pack of snacks for example is economically more effective than buying three small packs, but not everyone can use such ideas in freelance. In negotiation with the client you are selling your time and skills, so try to show that you have good quality and most important flexible and negotiable prices. It gives the client a feeling that he has an influence of the situation, while you are the one who will define the price in the end.
Another good pricing strategy are bonuses. Don’t hesitate if you see that a part of clients website for example is poorly coded or needs additional search optimization, offer to fix the problem for a bonus fee. In one of my latest projects I easily raised the article price by %5 with simply offering additional meta tags for each page. Of course %5 won’t give a huge sum but for a 200 articles project it will already be a difference. So remember to grab as much extra work as possible especially if the buyer pays well.
The most important thing that you need to know about pricing is: don’t be afraid to loose the project because you wanted too much; there is always another project nearby.
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