Manage episode 218631593 series 164106
Pricing for creative services has always been a difficult topic. As creative entrepreneurs, we often feel embarrassed about charging a high amount for our work. We’ll set rate based on time spent or put a fixed package rate up on our website. As a result, we often undervalue our services.
The prices you set shouldn’t be based on the cost of the input or the market value of the deliverables. They should be based on the value that you’re adding to the client and also the risk that you’re taking on. At the end of the day, value comes down to a feeling and what people are willing to pay for that feeling.
Services are either a productized business (pursuing scale) or a customized services business (pursuing quality). If you’re not a productized business, you need to stop pricing yourself as such. You can reserve the right to charge different clients based on how they value your business. Bring the same creativity you use in your work to your business model.
To dive deeper into this concept, I’ve brought on an expert who knows all about the art of pricing: Blair Enns. Blair’s sales training program for creative professionals, Win Without Pitching, seeks to change the way creative services are bought and sold in the world. Blair wrote The Win Without Pitching Manifesto and Pricing Creativity: A Guide to Profit Beyond The Billable Hour.
Download this episode today to learn to price your creative services based on value to the client and risk involved instead of a fixed rate.
WARRIOR OF GRACE
“In life, all profit comes from risk.” -Blair EnnsHighlights -
- Our prices should be based on the value to the client.
- The Value Triad consists of revenue gains, cost reduction, and emotional contributions.
- Ending a price with a “9” signals to people that the item is on sale.
- Always offer price options.
- Price the client, not the job.
- Don’t put prices on your website.
- You need to decide whether yours is a customized service business (pursuing quality) or a productized business (pursuing scale).
- The last obstacle in pricing creativity is you.
- Don’t be embarrassed about making a lot of money.
- The exchange of money is a certificate of appreciation.
Guest Contact -
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- Music by Jawn
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