“How much should I charge for what I do?” is one of those enigmatic questions like “How long is a piece of string?” But when it comes to your business, it matters, because everything starts with pricing. What kind of business do you want to run? Large or small? Do you want to work alone or attract top talent? Engage clients worldwide, or keep a local focus? Every business owner has a different plan, but they’re all downstream of the figure they quote their clients.
One thing to think about when pricing your services is that some clients like to have options, and offering them can pay dividends. In our 2022 Mailchimp & Co Benchmark Report, a survey of more than 2,000 freelancers and agencies, only 24% of responding freelancers said they offered clients 3 or more price points when presenting a proposal, and the majority of those picked up over 20% more new business than those who reported offering only 1 price point. The bottom line? Many freelancers and agencies could be leaving money on the table.
If you’re a freelancer or work at an agency, are you taking advantage of pricing strategies that can help you learn how to generate more revenue while remaining competitive and keeping customers happy? Below, we’ll review a few pricing strategies—and a dynamic, value-based pricing model that can help you learn how to take your business to the next level.