Like with any product or service on the market today, a crucial aspect of business is developing pricing and sales strategies. Consider how much of your time each service that you offer will take you to complete, and think from the point of view of the customer—what is the most logical and appealing setup for purchasing the freelance work?
First and foremost, one’s pricing strategies must be relevant in the current marketplace. Thanks to the visibility provided by the internet, it is easy to assess the competition. Understand what other freelancers are charging for similar types of services and products. What is the logic of their pricing based on, is it quantity of written words or number of photographs taken, an hourly fee, a flat project fee, or a type of project fee? Developing a pricing structure that is utilizing similar logic to one’s competitors will allow potential clients to directly compare your offerings to other freelancers in the market. Plus, it will keep prices in check—no freelancer would want to be charging twice as much as everyone else without a good reason to do so, or else they will lose significant potential business.
Within the menu of services offered, consider what types of products customers are likely to want to purchase together. If one is selling video editing services and offers a YouTube video edit, it is very possible that a customer will also want a shorter preview-edit to use as a feature on their social media platforms. Consider what existing services that are already on offer would pair well together, think about what else could be offered to supplement those existing services, and create add-ons where clients can purchase multiple products under one bundled price. This strategy will help generate even more business, as many customers will choose to buy more than they initially had planned, once they realize the benefits of the other products in the bundle.
There is nothing more valuable to freelancers than returning clients and long-term customers. It is essential to build up relationships of trust with clients who are dedicated to your services, and for whom you play a crucial role in their business. Treat these clients well and value their business—send them special deals and create a pricing structure that works well for both of you. For an ongoing client, often a subscription method is a successful idea because it allows customers to produce regular, predictable payments for ongoing services, and it allows the freelancer to receive regular, predictable income.
Keep an ongoing dialogue going with past and present clients. Send out periodic deals and specials, alerting them when new services are launched, or bundles are available. Check-in to see what kind of work they are doing now and if there is anything they are struggling with that your skills may be able to solve. This is a great method to generate repeat business, especially during slow times when looking for extra work.
