How to Price Your Copywriting Services
When I first started offering online copywriting services I was faced with how I would price my work.
Part of this research led me to the websites of other copywriters as to get an idea of the average other copywriters were charging for their services.
I also found a website that gave the industry averages based on research they did.
They provided price scales from lowest to highest for different types of copywriting work.
But then I was left with the question of where on the scale I should price my services, top, middle or bottom? There are several different ways that product owners set prices but for copywriting it is done basically in two different ways: either by time or per project.
Some copywriters quote you a price based on how many man hours it will take to complete the project.
Other price based on a flat fee irrespective of the hours it will take to complete the job.
Apart from whether a royalty or commission will be charged, this base fee can vary a lot.
I think that the best way for copywriters to price their work is price to value.
Find out the value that you are offering the client and then let your price be based on that.
This may mean that different clients may be quoted different amounts for similar jobs but this is not a matter of equity but getting compensated for the value you are offering the client.
Now if a copywriter were to price according to hours then he will be setting a limit on the amount of money he can make.
For example, a copywriter may charge $75 per hour as an hourly rate.
If the writing project takes 10 hours then the copywriter simply multiply this by 10 times $75 and determines the bill.
Another copywriter talks to the client and determines the value he is offering the client and sets the fee accordingly.
With this second model the client knows what he will pay upfront before the work is completed so there are no surprises in the end.
When the copywriter determines the value of the service he is providing then he may end up charging $10,000 for a 12 page sales letter and $3,000 for another 12 page sales letter.
It is not the length of the letter he writes but the value he is offering.
The first sales letter may be used to sell a $1,000 product while the second is used to sell a $27 ebook.
Now this may not seem 'fair' to the casual reader but this happens in selling physical products as well.
For example, the same chemical used in a fingernail polish remover (acetone) is the very same chemical used in paint thinner.
But guess which product cost the most in terms of dollar per unit quantity? The finger nail polish remover for sure.
Apart from the difference in quantities, (the paint thinner is bought in more bulk) the fingernail polish remover is used in the cosmetic industry while the paint thinner is used in the construction industry.
This is just one example but there are several cases where a product is sold for different prices depending on what it is used for, so why not a sales letter? So why not use the price-for-value method when quoting your copywriting fees? He who gives much should get much.
It's the fairest pricing principle there is.
Part of this research led me to the websites of other copywriters as to get an idea of the average other copywriters were charging for their services.
I also found a website that gave the industry averages based on research they did.
They provided price scales from lowest to highest for different types of copywriting work.
But then I was left with the question of where on the scale I should price my services, top, middle or bottom? There are several different ways that product owners set prices but for copywriting it is done basically in two different ways: either by time or per project.
Some copywriters quote you a price based on how many man hours it will take to complete the project.
Other price based on a flat fee irrespective of the hours it will take to complete the job.
Apart from whether a royalty or commission will be charged, this base fee can vary a lot.
I think that the best way for copywriters to price their work is price to value.
Find out the value that you are offering the client and then let your price be based on that.
This may mean that different clients may be quoted different amounts for similar jobs but this is not a matter of equity but getting compensated for the value you are offering the client.
Now if a copywriter were to price according to hours then he will be setting a limit on the amount of money he can make.
For example, a copywriter may charge $75 per hour as an hourly rate.
If the writing project takes 10 hours then the copywriter simply multiply this by 10 times $75 and determines the bill.
Another copywriter talks to the client and determines the value he is offering the client and sets the fee accordingly.
With this second model the client knows what he will pay upfront before the work is completed so there are no surprises in the end.
When the copywriter determines the value of the service he is providing then he may end up charging $10,000 for a 12 page sales letter and $3,000 for another 12 page sales letter.
It is not the length of the letter he writes but the value he is offering.
The first sales letter may be used to sell a $1,000 product while the second is used to sell a $27 ebook.
Now this may not seem 'fair' to the casual reader but this happens in selling physical products as well.
For example, the same chemical used in a fingernail polish remover (acetone) is the very same chemical used in paint thinner.
But guess which product cost the most in terms of dollar per unit quantity? The finger nail polish remover for sure.
Apart from the difference in quantities, (the paint thinner is bought in more bulk) the fingernail polish remover is used in the cosmetic industry while the paint thinner is used in the construction industry.
This is just one example but there are several cases where a product is sold for different prices depending on what it is used for, so why not a sales letter? So why not use the price-for-value method when quoting your copywriting fees? He who gives much should get much.
It's the fairest pricing principle there is.
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