As freelancers, it is so easy to get in our heads about every little decision. Unlike working a 9-5 for someone else, the choices we make directly affect our businesses and this can be incredibly intimidating. Every choice, such as the way you present your prices to customers or clients matters, but even so, you can’t let this pressure make you hesitant when setting the price for how much your goods or services are worth.
Value yourself by being transparent
It can be our kneejerk reaction to hold our prices out of sight when speaking to a new potential customer. In actuality, this behavior is unprofessional and can make you seem untrustworthy to that customer. Even worse, you’re very possibly wasting your own time if what you charge is vastly out of their budget, and your time is money!
We’ve even seen instances where hiding prices until the last minute has caused a potential customer that the business owner has been going back and forth with for days to simply go ghost. The entire relationship is lost because it’s so late in the process, the customer was likely too uncomfortable to try to haggle the cost into a range that made sense for their budget, so it was easier to not respond at all. Both parties lose out here.
Retain control over the sales process
The way to avoid all of this awkwardness is to be transparent upfront. When you initially have that first interaction, clearly and concisely state what your prices are. You will be able to tell how the relationship is going to go based on their reaction to your prices, and this is ultimately not a bad thing. The hard truth is that you will likely go through the experience of not getting a client or customer due to your prices being out of their budget. However, you have worked hard to think about your offerings and packaged your offer so that it provides great value for your potential customer base.
There is certainly a time to price yourself competitively, but if you have an established business, you’re past that! Lowering your rates is the same thing as devaluing your work. If you know what you provide is something of value and that what you charge is fair, then you will get customers. This is simply the bottom line. The few you don’t get will be vastly outnumbered by the customers who can afford you and do see how much what you provide will benefit them.
Understand that online transactions have become the norm
Many times our fears of failure for our online business come from an outdated standpoint. We think that if we can’t pitch ourselves in person or over the phone, we won’t be able to land the sale because this is what salespeople have been preaching for decades. Hiring a company online without ever interacting face-to-face is completely standard in today’s day and age.
Personally, we have never met our SEO specialist, web developer, or the person who creates our products but have wonderful relationships with each of them. Two of the three have even raised their prices a few times. Having a face to face interaction is, of course, valuable in many respects, but it’s no longer necessary. Just like you no longer have to call a travel agent to book a flight or go into a lot to buy a car, you don’t have to interact in person to make a sale or get a new client.
Don’t sweat pricing yourself competitively
One of the very valid fears that come with plainly listing your prices for all to see is that a competitor in your industry can easily come in and undercut you. This fear is by no means crazy, but what you have to understand is that the clients you want comprehend that they will get what they pay for. The customers we discussed earlier that couldn’t afford you and rejected your original offer will likely go with this cheaper competitor, and they’ll quickly learn that they get what they pay for. They may even hire you to clean up the mess that was made!
Understand that there will always be someone who does what you do for less, but keep in mind that if they’re charging a significantly smaller amount, they’re not doing their job as well as you are. With this knowledge, you shouldn’t give a second thought to listing your prices plainly. Your customer may ask you why your prices are higher, and that’s well within their rights. It’s part of your job to be able to clearly articulate why your prices are what they are, and more often than not, that customer will stick around and move forward with you.
In the end (it doesn't even matter)
In the end, if you let talking about what you charge scare you away from doing it, then part of you is not yet seeing the true value of what you provide. Please know that you got where you are based on your effort alone and be proud of that fact. When you practice your business with confidence, clients and customers will recognize that and be inspired to work with you. So don’t be afraid to be honest and charge what you’re worth. Doing so will only help you and your business grow!