The Price Is Wrong
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This document discusses pricing strategies for freelance services. It recommends determining your own value and not letting clients dictate prices too low. The author experimented with hourly, flat rate, and value-based pricing, finding value-based pricing most effective. Key lessons are to know your worth, study how others price similarly, and test different approaches to develop the right strategy. Communicating your value clearly to clients is also important. The overall message is that pricing requires understanding your skills and market to set prices appropriately.
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The Price Is Wrong
- 1. THE PRICE IS…WRONG Pricing Strategies and Understanding Your Value @nathanalloteynathanallotey.com
- 2. HI. I’M NATHAN (freelance web designer)
- 3. WHO AM I?
- 4. You are valuable, if you don’t give yourself a raise no one else will @nathanallotey
- 6. • Sesame seed bun • Add Lettuce • Add Big Mac sauce • With a Bun in between THIS IS A DOUBLE CHEESEBURGER
- 8. This is the auction mentality
- 9. This is what I was doing with my pricing. I allowed my clients to determine what the pricing was.
- 10. Don’t allow your fears or anxiety to limit your income. @nathanallotey
- 11. HOW MUCH DOES A WEBSITE COST?
- 12. Pricing is not a decision, it’s a strategy. @nathanallotey
- 14. HOW MUCH ARE MY WEBSITES WORTH?
- 15. NATHAN $1,000
- 18. I made $1,000 @nathanallotey I missed out on $9,000
- 19. When you price too low, you run the risk of people not taking you seriously Lauren Hooker, Elle & Company Design
- 20. y x price willingness to pay LUXURY / PREMIUM LOOKING FOR A DEAL GIVE ME A HOOKUP OPPORTUNISTIC
- 21. People will put you in a box at the least give them a box to place you in @nathanallotey
- 22. HOURLY PRICING FLAT RATE PRICING PRICE ANCHORING VALUE BASED PRICING (rate x time + expenses) (one price for all work) (focus on client benefits) (pricing options)
- 23. EXPERIMENT WITH PRICING • Hourly Pricing • Flat Rate Pricing • Pricing Anchoring
- 24. $75 / hr PRICING $250 FLAT FEE
- 25. • Hourly pricing should have a minimum. • Flat rate pricing works if you can manage your time. • Price anchoring increase the chances of winning a project (client’s choice). EXPERIMENT RESULTS
- 26. VALUE BASED PRICING Price based on the value provided not on the amount of time it takes to complete the job.
- 28. “I WILL PAY YOU $300” - client
- 29. If you give people the opportunity to pay less, they will @nathanallotey
- 30. Value Based Pricing 1lead / day 7leads / week 28leads / month 15%turn into customers 4 customers / month
- 31. Value Based Pricing $3,000/ customer $12,000/ month $400/ day
- 32. Knowing your value is one thing but communicating your value is another. @nathanallotey
- 33. PRICING IS HARD IS A PROCESS
- 34. KEY TAKEAWAYS • Know your value • (re)Position yourself in your niche. • Reach out to others to study their pricing. • Experiment with pricing options. • Use options in proposals involving price.