When you set a price on something, it should be the number that is what you are worth and profitable on.
Wriggling around on price isn’t something I do. In freelancing, you need to know your numbers and this is a paramount opportunity for you to stand out from the crowd.
But I will offer other options. These options are reduced scope of work which then corresponds to a reduced price.
If a lead or client say something to the effect of “Well I need Option A, but is there any way to get that price lower or closer to Option B?” Holding true to what the offers are I simply and politely say “no”.
A few things may happen from this:
- They will see that I’ve thought through their project and know the solution that will get them results for their budget
- They’ll see that because I’m not wavering on price, that may I’m a little bit different than the vast majority of freelancers and consultants out there.
- They may just walk away. Which for me is ok.
Not negotiating on price doesn’t mean that I’m not flexible. It just means that when I put a number of a scope of work, that’s a true value number.
The final thing I’d like to talk about on this topic is that if you present a proposal, you want to position your price to the value the client would get from the project.
You do this by figuring out during the sales process what the project ultimately means to them. Is it a time saver? Is it something to bring in more customers? Is it something to keep current customers longer?
If you can position your price against that of the value of the solution to their problem and make it a clear no brainer, they won’t even ask about a lower price.
Pricing & Recurring Revenue
More episodes in this topic:
How do I talk to a lead and turn it into recurring revenue?
How do I raise my rates?
Do you negotiate on price?
How do you price your work as a freelance web developer?
How do you price your work as a freelance web developer (Part 2)?
How do you price your work as a freelance web developer (Part 3)?
When it comes to getting premium freelance clients, what's your single biggest challenge?
Do you charge for meetings?
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Best of Season 3 - Building Relationships
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S03 Bonus - Tom McFarlin on Blogging, Balancing Work and Family, and Building a Business that Lasts
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S01 E11 - Kai Davis helping freelancers get more clients with outreach