{"id":36867,"date":"2024-11-28T15:45:35","date_gmt":"2024-11-28T02:45:35","guid":{"rendered":"https:\/\/www.nzie.ac.nz\/?p=36867"},"modified":"2024-11-28T16:36:17","modified_gmt":"2024-11-28T03:36:17","slug":"blog-setting-prices-as-a-freelance-digital-marketer","status":"publish","type":"post","link":"https:\/\/www.nzie.ac.nz\/blog-setting-prices-as-a-freelance-digital-marketer\/","title":{"rendered":"Setting Prices As a Freelance Digital Marketer"},"content":{"rendered":"\t\t
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Of all the things involved in setting up a business as a freelance digital marketer, working out pricing that will net you a profit but won’t send potential clients running for the hills is often the trickiest\u202fof the lot. So\u202fhow\u202fdo you come up with that elusive figure?<\/span>\u00a0<\/strong><\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Four Types of Pricing Options to Consider\u00a0<\/h4>


1. Hourly Rate<\/strong><\/h6>

Simple! Put a dollar figure on an hour of work – your rate x the\u202fnumber of\u202fhours you\u2019ve worked.\u202fThis\u202fis a fair way to get paid for\u202fthe work you\u2019ve done, but some clients get put off by hourly rates as they think they may overpay.\u202fAs you get more efficient in your work, you may also lose out by using an hourly\u202frate\u202fas you\u2019ll get the job done quicker. An hourly rate can\u2019t disguise that\u202fbut\u202fa project fee can. Hourly rates are usually good for a new freelancer digital marketer who is still getting established. It can also be good for those working with clients\u202fwhose\u202fworkload varies\u202ffrom month to month.<\/p>

2. Per Project Fee<\/strong><\/h6>

Instead of charging by the hour, you decide on a fee for the whole project and charge that\u202fas\u202fan\u202fagreed rate.\u202fThe rate\u202fis fixed\u202fno matter how\u202fmuch time it ends up taking\u202fyou.\u202fIf you choose this method, make sure you have a good idea of the complexity and scope of the project and keep good control of it so it doesn\u2019t\u202fend up taking\u202flonger than planned. It\u2019s a good idea to\u202fagree on\u202fa contract and scope of work before starting the project so you know what’s expected. Project rates work well for an established freelancer digital marketer who’s more efficient in their tasks and knows roughly how much time they take to do things. It\u2019s also easier to sell the value you offer when you have more experience and examples\u202funder your belt!<\/p>

3. Set Packages or Fixed Fee<\/strong><\/h6>

This concept puts work into packages\u202fwith fixed prices, or\u202fcharge\u202fa fixed price for each week or month of work. For\u202fexample,\u202fyou might offer\u202f3\u202fblog posts and\u202f5\u202fsocial media posts for a package price. You might also offer a certain number of social media posts and one\u202fresults report each month. Packages are good if you know you can complete tasks efficiently. They can also be a good way to attract new clients because they can\u202fclearly\u202fsee what you’re offering\u202ffor the money. Fixed fees can be useful for planning because you know how much money will\u202fbe coming\u202fin and what you need to produce each month.<\/p>

4. Retainers<\/strong><\/h6>

In this scenario, you agree a set number of hours or projects per month for a set fee\u202fwith the client. You agree to\u202fset aside the required time each month and they agree to pay you the fee each month regardless of whether they use any or all of the assigned workload.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Things to Think About When Setting Your Rates\u00a0<\/h4>