How to Price Your Business Services
I’m Invaluable, But My Content Costs This Much
I used to struggle with how to price my content or work. I didn’t want to negotiate with clients and would get offended when I received a low offer. Because honestly, how much is my brain worth?
How can I put a value on my experience?
I couldn’t put a price or value on my brain, so I categorized it and tried to look at my work objectively.
Value As A Creator vs How to Price Your Business Services
I am new to the Creator Economy as a writer. I'm approaching seven months of being a freelance writer and content curator, but I have two years of experience as a podcaster. But I have consumed content for years, and I have some favorites.
I determined how to price my content by looking at my favorite bloggers, podcasters, etc., and their pricing strategies or media kits from when they first started. I cannot compare myself to their current rates because many of them have yeeeeeears in the game.
This research allowed me to determine a price range for each project, and then I chose the price based on the value that I would bring to the project.
Value As A Creator and Pricing Don’t Have to Comingle
I determine pricing based on the value I bring to a project.
I found that to get paid what I felt I deserved for each project, I had to remind myself oy value constantly.
The first step to determining my value in the Creator Economy was to create a brag book. A brag book is a series of photos, writings, or awards that you have received, kind of like a creative resume. It contains highlights from your career and relevant client messages that propelled you to improve.
I used to look at that brag book once a month, but it wasn’t enough, and (honestly) I was starting to idolize it. It was like a yearbook where I could look back at my Golden Age and that’s NOT what I want.
I have not peaked; I am still progressing.
So I took some aspects from the brag book and the paystubs from finished projects and posted those on my wall. I see what others have paid me for my work when I enter my office. When I sit down to write, I am reminded of that 10,000-word article that I never thought I would complete. And two things happened:
I realized that my value lies in my ability to show up
I am valuable because I have completed difficult tasks.
With this in mind, I do not have a set pricing sheet, instead, I present ranges to clients after we discuss the project. We can discuss the level of research and development that I need to express in a written piece. I can understand the level of detail required in podcast editing, and together, the client and I can determine what they want to receive in the completed project.
I ask for a day to determine the pricing and I have only had to negotiate this once because the client knows that this pricing is specifically tailored to them. And honestly, that negotiation was for a rush job so it shouldn’t count in this list.
Not to be narcissistic or arrogant, but I produce content that you want. Right? Isn’t that why the client is here? So, how do I see myself in this similar way?
What is value?
Assessing your value is difficult, which is why so many creators use the hourly pricing method fo value their content. I wrote for three hours to produce this so if you pay me $75 an hour, this blog is worth $225.
The client gives you the $225, and you are left feeling like you put your heart and soul into that article and wanted $400. Why does this happen?
Lack of Honesty
Many creators can make something based on a prompt or task. I am writing right now because the task if you write about assessing value as a creator but creating content from a prompt, feels different from creating that piece of content that establishes you as a creative.
To truly value your content, you have to determine what the content means to the creator.
When you have difficulty finding a value to place on your content, you can present a range. I tell clients that a 500-word article could range from $250 to $400. This is because the amount of research involved in the assignment will vary. The amount of editing of the content will vary. And the complexity of the writing will change.
What Does The Creator Value
Another reason the hourly pricing method is an incorrect measure of time is that a seasoned writer could spend 5 minutes brainstorming and 30 minutes writing and creating a beautiful 1,000 article. However, the time spent creating the article does not dictate its value. That writer spent hours at their desk and with their laptop, allowing them to make that content in 35 minutes. How do you value that?
How do you value your services? Let me know!
Until the next blog,