Dear freelancers, all the social media creators and influencers are making you earn very little or sometimes nothing. Do you want to know the reason? Read the full article below.
We as freelancers or internet workers do follow our inspiration online and listen to what they say about the industry trends, pricing, and their experience.
We learn from them, We grow professionally and upskill ourselves by learning from them.
But there’s a never-ending wave going online, where every big or small creator of your niche or industry is motivating you to charge more for your services, be it Graphic Design, UX Design, Website Development or Digital Marketing.
Listen I know that charging more is important, But when?
We freelancers depend upon our freelancing work for monthly income. For example, If I talk about myself I generally provide branding and design services to my clients. I’m pretty good at it and the retainer percentage of my clients are very much higher.
When we see these big creators who inspire us to charge more, we get into an imaginary world of FOMO (Fear of Missing Out). When we were earning a decent amount of income every month, we were good and happy. But the real decline starts when we hear the influencers and fall into this never-ending trap. When a potential client reaches out to us for our services we ask for prices much higher than their budget and that geographic market value.
Then obviously the deal never closes. I have lost many clients like that. Then we take things to our ego and never decrease our pricing and be like we will do on this price or will stay out of work. This is literally stupidity.
In India, the market is different than the abroad countries like USA, Europe or Australia. Here the pricing shall be considered depending upon the geography that you are staying in.
Your behaviour and attitude towards your clients decide your future recurring earnings. But when we started to ask for higher prices for our services in the beginning, the clients took us as arrogant and they never came back to us.
So shall I never charge higher?
No, you shall charge more. Let me tell you this. When you have enough clients and generate a good amount of revenue every month, then according to me you are doing good. You need expenses for your home, you need to pay your bills, and EMIs, take care of your family, and reinvest some of the amount towards your business upliftment.
When you are full of work and have no time for other new projects, then start sorting out the projects that make you earn more. And start asking for an increased price for the new clients as per your experience, as even though you lose them, you will not go out of work. Simply have enough backup before asking for increased pricing for your services.
Have a good rapport with your clients. Provide your services as bundled packages, give discounts frequently and promote yourself every day to attract and acquire new clients.
Don’t stay idle and expect that the next client is going to change your fate by giving you a high-ticket project. Move on from this mindset. This doesn’t work 99.99% of the time.
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