As a freelancer, Pricing is the most important criteria which should be taken care of as it is the only criteria which can make or which can break you from doing this business.
To set your prices, at the first level all you need to see the market conditions and demands of your service which you are providing to your clients.
After analyzing and observing the market of your service, second criteria is to watch your competitors who are in the same line of business. It is most important criteria because competitors have a name, fame and client base for their firm and have fixed rates for their service.
As a freelancer, it’s very important and essential to analyze and ask the prices to other firms who are in the same field. It helps you to understand the prices and can give you the proper criteria to fix your own prices.
Quality matters but at the same time your valuable time for which you expected some monetary returns is very important.
Pricing can be fixed by keeping in mind the following criteria :
o WORD based Price :
Prices can be fixed according to the words you write if the length is small or little lengthy.
o PROJECT BASED :
If you have a lengthy project of a website or PPT presentations to be made then your charge should be according to the type of project given to you.
These are 2 criteria’s whish are essential and important for fixing prices as a freelancer.
One rate can’t grow your client based so the rates should be negotiable and flexibleas prices should differ according to the client’s requirements. If they don’t then client base will decrease and your image as a freelancer can go down.
It is not possible to please clients every time. If the client wants you to meet the deadline and you are ready to devote to your valuable time with the highest range of quality then it is very essential that you fix a charge which is best suited to your time and gives emphasis on the quality.
It is should be a rule of yoursthat first client’s requirements and then your profits; only then growing is possible with the best possible prices in which you and your both are comfortable.
Also, it should be noted that while dealing with pricing criteria at first analyze and confirm whether it is possible to do the work within the stipulated time frame.
The basic criteria should be understood and interpreted by you the same way the client wants and should meet his/her requirements; which is also an important factor that works for fixing prices as a freelancer.
Another and last important criteria are trust based deal with the client. It is essential that you take some advance amount from the client so that a relationship of trust can be made. Pricing with trust is the best pricing that you can offer and grow your freelancing work.