Factors to Consider When Pricing Your Freelance Work

Most freelancers face tensions while quoting fees to clients or potential clients for their services. It is quite tricky to pull off the right amount since it should be giving value to the freelancers themselves and at the same time be competitive with other similar businesses. Pricing should be simplified, competitive and valuable to the freelancer. Also, if the services offered are multiple in numbers, they should each have different pricing based on the efforts they will have to put into them. There are various factors freelancers must consider before deciding on the prices. Here they are:

  • Level of complexity and responsibility: A freelancer should be fully aware of every minuscule detail of the project before committing to it. It is always a good idea to ask questions, if any, before starting the work to deliver exactly what the client expects. A freelance work does not simply require using a single skill; it involves following various inputs and tasks in order to deliver it with quality. This gives a sense of responsibility which a freelancer must be aware of.
  • Managing time till completion: While most freelancers charge all their services by the hour, they at times don’t get full value for their effort. This is particularly because every project is different and requires a different kind of attention. Many projects come with urgent deadlines, and it is okay to charge extra for getting the work done more quickly than normal.
  • The expertise and skills with which the service is offered: If you’re a qualified and experienced freelancer, it is never advisable to under-price and under-value your services.
  • The clients should get what they pay for: Which is the best quality you can offer. It is good to negotiate a little bit to keep the client happy and not lose business, but at the same time, the service should be worth the amount of effort and expertise you’re putting into it.
  • Creating a packaged project price: Every client expects as much a simplified and competitive rate as possible from the freelancer. Things that should be made clear before starting the freelancing project include:

(A) Whether the expenses for phone calls, travelling, resource material, etc would be reimbursed or have to be a part of the package

(B) How count the number of hours, if the service has been settled on a per-hour basis

(C) what other costs will be covered and if there will be any other benefits.

When freelancers need to talk about rates with clients, they must be open and upfront about how much they charge and why they charge that much. It is very important to negotiate with the client and also be confident about how much the service is worth. You should never undervalue yourself. The pricing should also depend on whether the customer is an old one or a new one. The pricing should remain competitive to keep getting business from the old ones and to make new contacts and get new business ties with the new ones.