Are You Charging Enough For Your Services?

It is often hard to know whether you are charging too much or too little for your services with offline marketing services being so subjective in many respects. Web businesses are often selective on who they release their pricing to and for this reason, there is a general lack of a gauge on what price point makes a service competitively priced.

In my experience, my prospective clients do not necessarily care whether I am the most competitively priced service among those they have shopped for pricing among. In fact, my quotes are usually the highest among the bunch. Following are some intangible reasons that clients will opt for your service over your competitors, despite your price points:

* Your prospective client likes you and wants to work with you.

* Your prospective client feels or thinks that you are more knowledgeable than your competitors.

* Your prospective client thinks they will get a better return on investment if they utilize your service (especially if your project focus included marketing services with tangible and measurable results).

Furthermore, if you are unsure if you are quoting price points that are too low, you should consider the following:

Estimate the total number of hours that you are spending on the project. If you are communicating to outsourcers, then estimate that time. If you are setting up WordPress yourself, then count that time. After figuring the total number of hours, divide that by the profit you have after paying all the expenses of the project. The figure you get from this equation is how much you are valuing your time per hour.

If that is not an acceptable amount for you, then you should consider raising your rates. And if you are so boggled down with work and projects, then it means that the demand for your services is exceeding your supply and you need to find a tactful way of increasing your rates.


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