Tips for Success:
To avoid the risk of underpricing, always clearly define the results, timelines and expectations in a contract. Also, include a buffer for unforeseen challenges (e.g. revisions or additional requests from the client).
Pricing Strategy 3 – Value-Based Pricing
What is it:
Value-based pricing is a strategy in which you set prices based on the value your work provides to the customer, rather than the time or effort invested.
When to use it:
-impact projects, such as branding, marketing poland telegram mobile phone number list campaigns, or custom software development, where your work can directly impact a client’s revenue or market positioning.
Pros and Cons:
Advantages :
Maximize earning potential: You can charge a premium for work that provides significant value to the customer.
It positions you as a premium service provider, highlighting your expertise and results.
Disadvantages :
Excellent negotiation skills and a thorough understanding of the client’s business and ROI are required.
How to implement:
Start by researching your client’s business model and understanding how your services will contribute to their bottom line. Set your price based on the financial impact your work will have.
Example : If you are a marketing consultant helping a client increase revenue by 20%, you can charge based on the value you add, rather than just for the time you put in.
Recommended: What is Value-Based Pricing? How do you apply it to your products?
Pricing Strategy 4 – Withholding Agreements
What is it:
With retainer agreements, your client agrees to pay a recurring fee for a set amount of work over a set period of time. This is great for ongoing services like social media management, content writing, or consulting.
When to use it:
Retainer contracts are ideal for long-term projects where you will be working with a client on an ongoing basis.
