TUNE IN: Spotify | Apple Podcasts | Stitcher

Looking for closed captioning or a transcript? Watch the episode on YouTube!

A Sneak Peek at the Episode

[2:10] Pricing copywriting services is more of an art than a science—there’s no exact formula that will work every time. Be wary of online tools and calculators for pricing as they are often unreliable and produce unrealistic figures (like the calculator that suggested Kate charge $13,800 for a homepage—good luck finding a client for that!)

[5:00] Every single client and project is different. As professionals, our strength lies in adapting to each project’s unique needs and tailoring solutions for our clients. Fixed pricing doesn’t allow us to be the partner that we should be for our clients.

[6:50] It’s important to understand the specifics before setting prices, especially since clients who aren’t copywriters may not know what questions to ask initially. Don’t feel pressured to provide a quote until you have a clear understanding of the project’s scope and requirements from the client’s perspective.

[12:10] Nicki and Kate discuss key factors to prioritize (and disregard) when establishing baseline prices and hourly rates, including project scope, rush time, previous pricing, and more.

[15:00] How do you know how long a project will take? Nicki and Kate discuss the importance of timing tasks like drafting emails accurately, and to consider factors such as revisions, client communication, and urgent project requests.

[17:37] Avoid providing a quote during a discovery call. Take into account all necessary elements before preparing and sending the quote to your client!

[22:44] There are a number of elements that you want to factor in as you’re coming up with your quote.  Kate and Nicki encourage us to work at a rate we are happy with instead of comparing your rates to other copywriters.

[28:50] Nicki and Kate touch on some of the other ways people charge, including by the word and hourly work. As a copywriter, you want to avoid clients that are asking to pay by the word!

Must-Hear Takeaways

“Part of what makes us valuable as professionals is that we go into each project fresh and build a solution for a client based on their individual needs and that individual project. So if we say, ‘This is the only thing we offer, and this is the only price for it,’ then we’re not being the partner that we should be for our clients and not offering them everything that they need in order to accomplish their goals.” – Nicki

“You can’t have templatized costs for things because it’s going to vary from client to client. And you can’t base your prices on what other people are quoting either. Sometimes in the group, our students will ask, ‘OK, guys, what are you guys quoting for this?’ And I completely understand that impulse because everybody wants to know, ‘Am I in the right area? Am I in the right ballpark?’ But it’s going to be so different from client to client and from project to project, and even the area that your client is based in.” – Nicki

“There are lots of questions you want to dig into before you even start working on the pricing. And bear in mind too that clients don’t know what to ask. They’re not professional copywriters. So the only thing they know to ask is, ‘Oh, are you a copywriter? Are you available? And how much does it cost?’ That’s the only thing they know how to ask. So instead of automatically going, ‘Oh, I have to figure out what to tell them my’, take a step back and you can say to them, ‘You know what, that’s a really great question, but I can’t really quote you a price until I have a better understanding of your project.'”

Related Links

• Why Most Advice About How to Price Your Services is Dead Wrong for You
• Copywriting is Only 1/3 Writing, Here’s Why That Affects How You Charge
• What Copywriters Charge for Content Writing
• When and How to Raise Your Copywriting Rates

Tell us what you love about the podcast and what you hope to hear next! When you do, you can get access to an exclusive bonus recording featuring five wildly successful entrepreneurs who share what they do (and don’t!) look for when hiring copywriters. You do not want to miss it! 

Get all the details on how to get your recording here »

About the Build Your Business Podcast

Ready to turn your love of writing into a successful copywriting career?

Join professional copywriters Nicki Krawczyk and Kate Sitarz to get the tips, tools, and training to help you become a copywriter and build a thriving business of your own. Nicki and Kate have 20+ and 10+ years of experience, respectively, writing copy for multi-billion-dollar companies, solopreneurs, and every size business in between.

Whether you want to land an on-staff job, freelance full-time and work from wherever you want, or make extra money with a side hustle, the best place to start learning is right here.

The post Summer Rewind: Ep. 17 How to Set Your Copywriting Rates appeared first on Filthy Rich Writer.

TUNE IN: Spotify | Apple Podcasts | Stitcher

Looking for closed captioning or a transcript? Watch the episode on YouTube!

A Sneak Peek at the Episode

[1:39] As consumers, we see sales and discounts everywhere, tempting us to make purchases. So for copywriters (who are also learning to be marketers), it’s natural to question if you should also offer discounts.

[3:21] As a way of getting their first clients quickly, we often see new copywriters offering discounts on their social media pages. But if a client sees they can get your service at a reduced rate, why would they ever want to pay the full price?

[4:42] We have a reason for quoting the rates that we do—there’s a formula to it. So by offering a discount, you’re implying that there isn’t anything real behind your numbers.

[6:05] When you run a sale as a service provider, the implication is that you can’t get people at your standard rate or that people think your standard rate is too high.

[8:56] Discounting your rates usually comes from a place of fear. If you haven’t landed clients yet, then you don’t know that it’s possible. But you have to go in with the mindset of, “This is my rate. I’ve done the work, and I know what I need to charge to make a living.”

[11:25] You can still run promotions that encourage people to take action, but they shouldn’t be based around price or discounts. For example, you could offer a limited number of free strategy calls.

[12:34] Just posting on social media and waiting for people to come to you is not an effective strategy. Pitching is the number one way to stay in control of your opportunities. 

[14:28] If you are offering supplemental promotions like free strategy calls, make sure you limit the number of people that can have access to it and the time you spend on them.

[15:42] Our hosts do not recommend writing free projects for people. This doesn’t give a good impression of your service and if you work for free, why would a client ever bother to pay you? 

[16:42] For any of these promotions, just like with a pitch, make sure you’re sending over the “what”, not the “how”—remember the “how” is what they are hiring you to do.

[17:37] If a client responds to a quote by saying it’s out of their budget, you have the option to negotiate in a way that adds value for the client but makes it work for both of you. For example, you might remove some of the deliverables and save them for a later phase.

[21:17] Don’t make assumptions about who can and can’t afford to pay your rates. Go into conversations with your best foot forward and give yourself the opportunity for someone to say “yes” to you. You’ll be pleasantly surprised when it actually happens!

Must-Hear Takeaways

“If we’re able to discount something by 15-20% at any time, the implication is that our rates are malleable, not based on anything real to begin with and/or our rates are inflated, in case we want to discount. Either of these impressions are a really, really bad impression to give to potential clients.” – Nicki

“I think we get into our own heads to start discounting and reducing our rates because we are afraid. It comes from a place of fear, it comes from a place from not knowing what we don’t know. If we haven’t done the thing, we haven’t landed the clients then we don’t know that it’s possible and so going in with the mindset of this are my rate, I’ve done the work, I know what I need to charge, and you know what you need to charge to pay your bills, to make a living, and that your time is valuable. And once you start valuing your time, you don’t want to discount your time.” – Kate

“It’s the idea of not making assumptions of who can and can’t afford to pay your rates, and so enter conversations with your best foot forward, saying this is my rate and then weighing the decision of what you want to do for your business after that. But there’s no sense in putting up your own roadblocks, in saying no to yourself before someone else says no to you.” – Kate

“Give yourself the benefit of the doubt. Give yourself the opportunity to have someone say yes to you. Because by not doing it, you’re taking away that opportunity from someone to be able to say that to you. And again, you’ll be so surprised, I think, once it actually happens. And so it’s something you just have to do and have to practice. And then if you do eventually get a firm no, it’s also not a no forever. You can follow up with them and say, ‘hey, is it cool if I follow up in six months that this might be better timing for everyone?’ That happens all the time too.” – Kate

Mentioned on this Episode

• How to Set Your Copywriting Rates

Related Links

• Are Your Copywriting Prices Leaving Money on the Table?
• Why Most Advice About How to Price Your Services is Dead Wrong for You
• Copywriting Is Only 1/3 Writing—Here’s Why That Affects How You Charge
• Set Your Copywriting Business Up for Financial Success

Tell us what you love about the podcast and what you hope to hear next! When you do, you can get access to an exclusive bonus recording featuring five wildly successful entrepreneurs who share what they do (and don’t!) look for when hiring copywriters. You do not want to miss it! 

Get all the details on how to get your recording here »

About the Build Your Business Podcast

Ready to turn your love of writing into a successful copywriting career?

Join professional copywriters Nicki Krawczyk and Kate Sitarz to get the tips, tools, and training to help you become a copywriter and build a thriving business of your own. Nicki and Kate have 20+ and 10+ years of experience, respectively, writing copy for multi-billion-dollar companies, solopreneurs, and every size business in between.

Whether you want to land an on-staff job, freelance full-time and work from wherever you want, or make extra money with a side hustle, the best place to start learning is right here.

See Previous Episode

Ep. 178: Combatting Anxiety-Inducing “What Ifs” with This Tactic

The post Episode 179: Should You Offer Discounts or Sales on Your Copywriting Services? appeared first on Filthy Rich Writer.

TUNE IN: Spotify | Apple Podcasts | Stitcher

Looking for closed captioning or a transcript? Watch the episode on YouTube!

A Sneak Peek at the Episode

[1:44] Any money that you’re leaving on the table in your copywriting business undercuts the goal of having a free, exciting, and fulfilling life. When you’re pricing out projects for your clients, there are certain things you need to remember to factor in.

[2:51] If you are just factoring in meetings, writing time, and some editing, you’re overlooking many tasks that can end up taking a lot of time when you add them all together.

[4:37] If you can do something special for a client like delivering a project early, let them know that it’s something special. Otherwise, you’re just breaking your boundaries and letting them think that’s normal. 

[5:38] It takes the human brain a little bit of time to transition into different projects so it’s important to factor in time for task switching.

[7:58] It can take a bit of time to get your brain in the right space for writing copy. As this is part of the process, it’s something that you should be charging for.

[9:30] Definitely factor in the discovery call (and the prep work you did!) when charging your client. You might also think about factoring in a small portion of other discovery calls that you’ve had that have increased your skills, experience, and abilities.

[11:28] Estimate the time you spent creating and sending your quote, as well as the time for any research you had to do for that input call and the time you spent consolidating your notes from the call.

[13:57] You shouldn’t have that many unbillable hours when doing work for your copywriting business. Project management systems like Asana can help account for time spent on tasks for specific projects.

[17:08] Don’t forget to factor in the creative review meeting, as well as a couple of rounds of edits. Even if you do a great job first time round, they end up getting the final copy faster, which is a benefit to them. 

[19:20] Your client is paying for the end result, not the individual hours to get there. They only need to know the deliverables they’re getting rather than an hourly breakdown of your time.

[23:30] If you are outsourcing admin tasks or elements of copywriting projects, make sure you know exactly what kind of profit you want to make. Dig into the numbers and factor in all the time it will take to get them up to speed to avoid losing money on the project.

[25:37] Invoicing is still part of the project and this time should be accounted for.

[27:46] When you work with a client and they drag their feet or make things a bit more difficult, consider charging what Nicki calls a PIA (pain in the…rear end) tax!

[29:39] Kate reminds us that if your client uses a payment software with a fee attached, make sure to include it in your project price as it is a convenience for your clients that you’re offering.

[32:59] It can be frustrating that there is no perfect formula for knowing exactly how much to charge your clients. The problem with calculators is that every project is different, every client is different, and every experience is going to be different. But with each project, you will learn.

Must-Hear Takeaways

“Considering that all of us got into copywriting to start a career, we all get into it to make money as a business, to support ourselves. Any money that we’re leaving on the table or we are forgetting to factor in, or missed opportunities…that just undercuts our goal of having a free, exciting, fulfilling life.” – Nicki

“As a freelancer, as a writer, sometimes we get caught up in our emotion and fear and self-doubt, and all that kind of thing. But as business owners we have to step back from that, put on the CFO hat and look at our actual numbers and make sure that we are getting paid for all of the work that we’re doing. Because a business is not going to succeed and thrive if it’s not getting paid for all of the work that it’s doing.” – Nicki

“I think we underestimate just how much time effective, good communication takes. And so you want to build in and bill for all of those hours because it does add up to hours of your time.” – Kate

Mentioned on this Episode

• The Right Way to Raise Copywriting Rates
• Increase Your Copywriting Pricing Without Burning Bridges

Related Links

• How to Set Your Copywriting Rates
• Why Most Advice About How to Price Your Services is Dead Wrong for You
• Copywriting Is Only 1/3 Writing—Here’s Why That Affects How You Charge

Tell us what you love about the podcast and what you hope to hear next! When you do, you can get access to an exclusive bonus recording featuring five wildly successful entrepreneurs who share what they do (and don’t!) look for when hiring copywriters. You do not want to miss it! 

Get all the details on how to get your recording here »

About the Build Your Business Podcast

Ready to turn your love of writing into a successful copywriting career?

Join professional copywriters Nicki Krawczyk and Kate Sitarz to get the tips, tools, and training to help you become a copywriter and build a thriving business of your own. Nicki and Kate have 20+ and 10+ years of experience, respectively, writing copy for multi-billion-dollar companies, solopreneurs, and every size business in between.

Whether you want to land an on-staff job, freelance full-time and work from wherever you want, or make extra money with a side hustle, the best place to start learning is right here.

See Previous Episode

Ep. 162: #1 Secret for Copywriting Success

The post Episode 163: Are Your Copywriting Prices Leaving Money on the Table? appeared first on Filthy Rich Writer.

TUNE IN: Spotify | Apple Podcasts | Stitcher

Looking for closed captioning or a transcript? Watch the episode on YouTube!

Read More: How to Manage That First Copywriting Client Panic

When you start getting work, your first reaction will be elation. But then the panic may set in. Learn how to overcome that feeling and push through the panic with our blog post here >>

A Sneak Peek at the Episode

[1:44] Challenges are likely to come up when building your own business but panicking about them will only hinder your progress.

[5:31] Whatever the problem is, start by viewing it objectively and ask yourself what you know for sure about the situation and what the absolute facts are. Your feelings are valid, but they’re not objective.

[10:48] The next question to ask yourself is what problem you are looking to solve, e.g. are you working too many hours? Then you can go through all of the elements that may have contributed to that.

[13:55] Nicki and Kate discuss some possible scenarios for working a certain number of hours and not making enough money. Are you factoring meetings into your price? Are you making an assumption about the number of hours you’re working?  

[21:59] As you go through and see what all of the contributing problems are, it will be clear exactly what is causing the main problem. The last step is figuring out what to do now instead.

[23:26] Having too much work can be a sign of not setting or enforcing effective boundaries with your clients. Make the shift toward wanting your clients to respect you, rather than like you.

[26:35] Using this process is useful for hitting your financial goals, but can also be used if you have too much work. 

[27:58] Once you have the facts about business activities like pitching and social media, you can figure out what you need to objectively do to move forward. You can’t make those decisions in a state of panic.

[33:33] Tracking the metrics in your business is key for determining if the activities that you’re doing are generating revenue.

[35:44] Aim for slightly higher goals, as achieving them can happen a lot faster than you think. It’s all perfectly possible but not if you spend all of your time in panic!

Must-Hear Takeaways

“Whatever the facts end up being, once you have the facts you can figure out what you need to objectively do to move forward. Not just sit there and say “ahh I don’t know what to do!!!” Yes, absolutely take a moment to feel your feelings, but when you know the objective facts, you can come up with the steps to move forward.” – Nicki

“If we’re not enforcing our boundaries, if we’re working well beyond the hours that we told our clients that we would work, or if we’re doing extra work for our clients just to be nice, that’s going to compound and that’s going to end up with us working way too much for way too little.” – Nicki

“We’re looking for what objectively happened because as you start to list out these problems and list out the symptoms, the factors that contribute to those problems, you’re going to start being able to come up with what I would then call hypotheses or possible scenarios to fix it.” – Nicki

“It is a spiral that’s hard to get out of because you just keep saying yes to work and keep taking on work. And then you still have all of these problems and you’re wondering what’s going on. And sometimes the cash is nice enough to make up for that, but you’re somehow burned out and miserable in some ways like ‘I thought I was going to have more time as a copywriter’. You can, you just need to go through this framework to make sure you’re setting up your business in the right way.” – Kate

“The truth is, there’s no problem in your business that can’t be fixed and I hope that makes everyone feel really good. Wherever you are, whatever you’re facing, there’s nothing that can’t be fixed and whatever your goal is, it is absolutely possible to get there.” – Nicki

Related Links

• Frustrated, Disillusioned, and/or Procrastinating? It’s Time to Fight Resistance
• Copywriting Rush Fees: When and How to Charge Them
• Ep. 17: How to Set Your Copywriting Rates
• What Are Your Copywriting Business Rules?
• Ep. 134: Keep Copywriting Fun: 3 Must-Implement Business Boundaries

Tell us what you love about the podcast and what you hope to hear next! When you do, you can get access to an exclusive bonus recording featuring five wildly successful entrepreneurs who share what they do (and don’t!) look for when hiring copywriters. You do not want to miss it! 

Get all the details on how to get your recording here »

About the Build Your Business Podcast

Ready to turn your love of writing into a successful copywriting career?

Join professional copywriters Nicki Krawczyk and Kate Sitarz to get the tips, tools, and training to help you become a copywriter and build a thriving business of your own. Nicki and Kate have 20+ and 10+ years of experience, respectively, writing copy for multi-billion-dollar companies, solopreneurs, and every size business in between.

Whether you want to land an on-staff job, freelance full-time and work from wherever you want, or make extra money with a side hustle, the best place to start learning is right here.

See Previous Episode

Ep. 146: Face Your Freelance Finances Fears – with Crystalynn Shelton (CPA)

The post Episode 147: How to Avoid Freak-Outs & Solve Any Challenge appeared first on Filthy Rich Writer.

The vast majority of copywriting projects do not need to get completed in a rush. As we like to say, there’s no such thing as a copywriting emergency.

However, occasionally clients will have a copywriting need that they need done fast. And in these cases, you will likely want to bump up your rates and charge a copywriting rush fee. By “rush” we mean scenarios like a client reaching out to you on a Friday and needing copy by Monday.

Often this is a result of the client not having a project manager or someone staying on top of the tasks that need to get done for the project. But, should you want to take on the quick turnaround, there are a few things to consider.

What is the Definition of “Rush Job?”

Everyone’s definition of “rush” may vary. It’s your business so you get to decide! Typically, a rush job would be something within 48 hours. You may decide that’s 48 hours excluding weekends and that anything that needs to happen over a weekend is a rush job.

However, be careful you’re not tacking on rush fees due to your own schedule mismanagement. If you and a client kicked off a project and you told them you’d have the copy to them by a certain date, but waited until the last minute to get additional information you needed, that’s on you.

You may decide that within 24 hours you charge a higher rush fee than something within 48 hours. Again, it’s up to you, but it’s best to implement parameters for yourself so you know exactly what to do each time you’re faced with calculating a rush fee.

Calculating Your Copywriting Rush Fee

Once you have your parameters for what constitutes a “rush” job, it’s time to calculate the cost. There are several ways you can calculate a copywriting rush fee.

Percentage-Based Rush Fees

One of the most common ways to charge a rush rate is to charge based on a percentage of the project. It’s like the time-and-a-half overtime rates that some employers use for employees working holidays, for example.

That means if you calculate the project price at $1,000 for a “normal” timeframe, you’ll add a percentage fee on top of this. So, if you were using the time-and-a-half method, it’d be $1,500 for the rush version of the $1,000 project.

The percentage you use is up to you and you may determine that you charge 25% for certain scenarios, 50% for others, and perhaps even more!

Come up with a framework for these scenarios, adding it to the criteria you determined above for what is a “rush.” So, perhaps you charge 25% more if it’s within 48 hours, 50% within 24, 100% if it will involve giving up your weekend.

You may add criteria for the complexity of a project, too. So, one email may be a 25% increase while five webpages may be a 100% up charge.

A Note on Flat Rush Rates

You may decide that you have a flat $100 rush fee for any project that fits your criteria for rush. However, this flat fee doesn’t give you as much wiggle room. A flat $100 fee on a $1,000 project that eats away at your nights and weekends is only a 10% bump.

That 10% may be fine if you can complete your work in normal business hours. But that bump may not feel adequate to you if you’re burning the candle at both ends to get the work done.

Do You Need to Tell Your Client About Your Rush Fee?

No one likes to feel nickled and dimed. When you’re quoting a project rate, incorporate your rush fee into your project quote. You do not need to break it on its own line.

However, you may call it out to your client that the project quote includes the time to tackle this project faster than you would a regular project. Basically, you want to make it clear this is not a normal timeline and you’re helping them out.

Most clients understand this is simply a fact of doing business. So, rather than worry that you’ll lose a client by charging a higher rate (chances are, you won’t!), respect your time and value!

The best scenario is that you disclose your rush rates to your clients before you have to use them. You want clients who plan and respect your time. And you want to equip them with as much information as possible upfront.

If you work with a client on an hourly basis, then you will inevitably need to discuss a rush rate. This is where a time-and-a-half scenario can come into play, too.

When to Waive Your Rush Fee

Sometimes, it may make sense to waive your rush fee. If you have a client that you work with on a consistent basis that simply needs to check “accept changes” on the edits they’ve added to your piece or wants one or two headline options for a landing page you wrote, you may consider waiving the rush fee.

These small asks, particularly with a client you enjoy working with (and want to continue working with), may not be worth tacking on additional costs. Consider it the cost of being a good business partner to them.

Again, it’s your business so you may decide you never waive rush fees, and that’s fine, too!

When to Say No to a Copywriting Rush Job

We almost started the post with this section. That’s because sometimes it may make sense to turn down the job. If your schedule is jam-packed with copywriting projects and squeezing this client in to the front of the line means jeopardizing any of the other projects you already agreed to, then you may want to turn the work down.

A rush job may mean a bigger payout for you, but that doesn’t mean you should risk delivering sub-par work to clients who followed the proper project process.

Rush jobs should be jobs you take on because you have the time.

The other thing you need to consider is whether you can deliver good work within the timeframe! If a client wants a series of 10 emails turned around in 24 hours, that may not be a project you want to take on or even feasible! The stress of delivering your best work in a tight timeframe may not be worth it to you (or your reputation).

Helping out a long-term client who is in a pitch may be the type of rush project that works for you because you already know the brand and voice and have a good working relationship. (Taking on a rush job as your first project with a client is not a recipe for success!)

But, if you have time in your schedule or, for example, you’re willing to give up days you had planned to take off, then you’ll need to determine your rush fee.

If you DO say no to a rush job, but you find yourself with some time say a week or so later, check back in. You may find they haven’t even started that “rush” job!

No matter what you decide when it comes to rush rates, make sure you’re respecting your own time! If you do fast work for clients all the time without adding a fee, the only person you’re hurting is yourself.

Your Turn! Have you ever charged a rush fee and, if so, how did you calculate your fee?

The post Copywriting Rush Fees: When and How to Charge Them appeared first on Filthy Rich Writer.

TUNE IN: Spotify | Apple Podcasts | Stitcher

Looking for closed captioning or a transcript? Check out the episode on YouTube!

A Sneak Peek at the Episode

[2:30] Pricing your services isn’t an exact science. Nicki and Kate discuss all that goes into calculating your project price – and why you can’t just use a calculator.

[5:00] The importance of individualized solutions for clients is a key element in any and all discussions on pricing for a project. No two projects are the same.

[6:37] Clients are not professional copywriters. There will be a lot of questions back and forth because you cannot price a project without knowing the scope of what the client wants.

[13:07] Nicki and Kate outline what to consider (and what to ignore) when determining a baseline price and hourly rates such as project scope, rush time, previous prices, and more.

[14:00] How do you know how long a project will take? Nicki and Kate discuss how to account for various time inconsistencies between clients.

[16:30] You should not quote on a discovery call. Factor in all the elements needed to come up with the quote and then you can send it to your client!

[23:00] Ask yourself “Will I be happy working at this rate?” Kate and Nicki explain how to push past comparing your own copywriting business (and rates!) to others.

[27:45] Nicki and Kate discuss various pricing outlines such as paying by the word and hourly work.

Related Links

• Why Most Advice About How to Price Your Services is Dead Wrong for You
• Copywriting is Only 1/3 Writing, Here’s Why That Affects How You Charge
• What Copywriters Charge for Content Writing
• When and How to Raise Your Copywriting Rates

Tell us what you love about the podcast and what you hope to hear next! When you do, you can get access to an exclusive bonus recording featuring five wildly successful entrepreneurs who share what they do (and don’t!) look for when hiring copywriters. You do not want to miss it! 

Get all the details on how to get your recording here »

About the Build Your Business Podcast

Ready to turn your love of writing into a successful copywriting career?

Join professional copywriters Nicki Krawczyk and Kate Sitarz to get the tips, tools, and training to help you become a copywriter and build a thriving business of your own. Nicki and Kate have 20+ and 10+ years of experience, respectively, writing copy for multi-billion-dollar companies, solopreneurs, and every size business in between.

Whether you want to land an on-staff job, freelance full-time and work from wherever you want, or make extra money with a side hustle, the best place to start learning is right here.

See Previous Episode

Ep. 16: Freelancer to Full-Time Remote Copywriter: Karisa’s Story

The post Ep. 17: How to Set Your Copywriting Rates appeared first on Filthy Rich Writer.

The rates you charge when you first get started as a copywriter will not—and should not—stay the same throughout your career.

Remember that copywriting is a merit-based career. Regardless of your background, your age, your gender, your race, any demographic difference, if you can write great copy, people will hire you.

And since it’s a merit-based career, that means your compensation is also merit-based. Basically, the better you get at writing copy, the more you can charge.

But rates aren’t quite that cut and dry. You can also charge more if the demand for your services is high. You can charge more if the client wants an especially fast turnaround. And you can charge more if the company is a giant corporation and, frankly, has a bigger budget.

So, there are a lot of factors that come into play, but here we keep the scope narrow: when you should increase your copywriting rates and how you should do it.

When You Should Raise Your Copywriting Rates

So, when do you know that it’s time to increase your rates? Well, to start off, if you’re getting signals from clients that your rates are low, you need to think about increasing them now. And not just one or two clients since some people’s perceptions are skewed—but if the vast majority of your clients are bowled over by how little you charge, it’s time to up that rate.

Beyond that, though, we recommend a yearly check-in and self-evaluation.

Kate, our Head Coach, shared these questions that she asks herself:

• What have I learned this year that allows me to deliver more value to my clients?
• What have I already delivered this past year to my clients that goes above and beyond my rates?
• Am I being extra flexible for a client or offering additional services?

“One ongoing client gave me a company email address,” she explains. “So, naturally, I had to manage that inbox in addition to my regular business email. That ate up additional time and I was delivering a level of convenience for them by using their email, fielding more emails than on a normal project, and delivering emails with a ton of strategy-related questions they hadn’t thought through. Extra convenience equals higher fees.”

So, each year, evaluate how you’ve grown and developed as a copywriter.

How to Raise Copywriting Project Rates

Though I say “hourly,” know that we’re not just talking about by-the-hour projects. You’ll use your hourly rate to estimate the time it will take you to complete a project, so your hourly rate also affects your project rates. (As you know, project rates are the best way to charge for copywriting projects.)

But you don’t need to announce an increase in your rates if you work with clients on a project basis since your rates are baked into your project prices and they never actually KNOW what your hourly rates are.

Here’s what I mean: You may have done a project for a client and priced it out with a $50/hour rate, but what they saw was a quote for $700. They don’t KNOW that your rate was $50. So when you price out projects in the future with a $55 or $60 an hour rate, they won’t know that there’s a difference since each project is unique anyway.

How to Increase Hourly Rate

Bear in mind that you’re only going to need to increase a price announcement if you’re working with a client on a regular basis and you are billing hourly. These are clients who are used to paying you a certain amount and now you’re going to increase that amount.

Most copywriters tend to overthink this, but it can be a simple email. See the template below.

Get Your Mindset Right

Before you hit send on the email, you need to get in the right mindset. Too many copywriters build this moment up to the point they’re ready to adjust their rate increase so it doesn’t “seem” so high or, worse, back down from increasing rates all together.

Stick With Your Rate

You’re raising rates for a reason. Often, copywriters aren’t accounting for all the time they’re spending and they wonder why they’re not hitting six figures. If that sounds like you, know you need to move forward with the increase. It’s not serving you to work for less than your value.

Plus, you have no idea how your client will react. We build up worst case scenarios, when all too often clients say, “OK!” We’ve then spent days or even weeks worrying about a rate increase for nothing. Remember: if you’re providing great copy and they like working with you, they do not want to go through the trouble of finding someone new!

Negotiate or Walk Away

Very occasionally, a client may say something like, “We just can’t make that work with our budget.” At this point you have a choice.

One of the business rules you need to create for yourself—if you haven’t already—is your “no lower than rate. This allows you to walk away from clients who simply can’t meet your “no lower than rate.” Now, you may decide that you don’t want to go lower than your rate ever—that’s totally fine! Time to find a new client!

But sometimes, you may love a client, or really want a piece for your portfolio, or really want to crack into an industry. In these cases, you want to have flexibility, but you also want to maintain a boundary. Set your no lower than rate and see if your client is willing to meet you there. If not, walk away.

Set those boundaries now so they’re ready to go when the time comes. (Otherwise, you’ll find yourself saying “yes” to rates that are way too low.)

Make Room for Clients Who Can Pay Your Rate

There are so many more opportunities than you realize. Remember that there are clients willing to pay your rate. And if you take on clients who can’t pay your full rate, you’re not giving yourself the time and space to find clients who will pay your full rate.

A Note on Justifying Your Rates

When it comes to raising your rates with regular clients, here’s something I want you to remember: You NEVER have to justify raising your rates. Your rates are your rates and you have the right to charge whatever you want to charge. You don’t have to justify (to them) that now you have more experience, or you’ve been taking more classes, or whatever. It doesn’t matter. If YOU feel that it’s time for a rate increase, it’s time.

Before you send an email to let your clients know that you’re raising your rates, check any contracts you’ve signed. If you’re in the middle of contract work with a client and the rate is in that contract, you’re going to have to wait until that contract is over. But if you’re doing more ad hoc work with a client, you can just send a simple email.

Email Template for Raising Hourly Copywriting Rates

SUBJECT LINE
A quick update about rates

BODY
Hi, [NAME],
I just wanted to send you a note to let you know that my rate will be increasing to $XX/hour as of [DATE]. Please let me know if you have any questions.

I’ve really enjoyed working together and I look forward to our future projects.

Thanks!
[YOUR NAME]

Easy, right? And the only thing to keep in mind is that your client also needs to email you back and acknowledge this rate increase; you can’t just email them and increase it.

How Much Do You Increase Copywriting Rates?

A few more things to bear in mind: When increasing your rates, you’re most likely not going to want to think in terms of huge jumps ($50 to $100 an hour) but more along the lines of increasing $5 or maybe $10 per hour. (If that sounds little, remember that $10 an hour over the course of a year is $20K+.)

You also don’t NEED to raise your rates every year, we just recommend a yearly check-in. You won’t be able to raise your rates indefinitely. Three hundred dollars an hour may put stars in your eyes, but clients are going to balk if they ask you to write a simple welcome email and you quote them $700 for that email.

As we’ve said before (and will continue to say a million times after this) pricing and rates aren’t an exact science. But if you take a look at the work you’ve done and the amount you’ve learned and improved your skill, and it’s not reflected in what you’re charging your clients…it’s definitely time to think about increasing your rates.

Watch More

On episode 109 of the Build Your Copywriting Business podcast, Nicki and Kate discuss the right way to raise your copywriting rates, including making sure you’re valuing your time and knowing when it’s time to raise your rates.

Want More Career Advice?

If you’re looking for more advice for a successful copywriter career, we’ve got it! Here’s how to get a promotion, when to make a change, and other tips. 

Your Turn

When will you plan to evaluate and raise your copywriting rates? Have you raised your rates recently and, if so, what happened? Let us know in the comments below!

The post Increase Your Copywriting Pricing Without Burning Bridges appeared first on Filthy Rich Writer.

We hear a this a lot: Should I put prices on my website? After all, when you go to buy anything else online, there’s a clear price.

But it’s a little different with copywriting.

As a copywriter, you’re always going to customize the service you’re providing to meet your client’s specific needs. A website for one client may require a lot more work than a website for another—even if they’re both five pages long.

For example, a product page for a $5,000 service is going to require a bit more benefit-driven copy than perhaps a product page for a $15 scarf.

Should I Put Prices on My Website to Filter Out “Cheap” Clients?

It may seem easier to list prices to “filter” out clients you don’t want to work with, those clients who can’t afford your rates.

But why let your clients decide for you? Don’t YOU want to decide whether or not you take on a project?

Having a conversation allows for the nuance that comes with every single project and every individual client. Maybe a client can’t afford your regular rate, but they can afford something close to it and you really want to work with them, whether because you like the client, like the project, or both.

Or maybe you know the client stands to make a ton from your work and can afford more than your regular rate. Give yourself the flexibility to charge based on the specific need and situation.  

Plus, clients may take the rates you have on your site and guess for themselves what you’d charge for other types of projects not listed within your packages or services (and it’d get really clunky to start listing out everything you could possible write—T-shirts, ads inside buses, ads outside buses, radio spots, pre-roll video scripts…the options are truly endless).

Or worse, they may assume because you don’t have a price for something, you can’t do it.

Many First-Time Clients Want to Work With You on a Smaller Project

The other major thing to consider: is the client “cheap” or do they just not know you yet?

Taking on a smaller project with a client can open the door to larger projects.

For example, when I was first starting out as a copywriter, there was a copy agency I wanted to work with. I was still relatively green, so they gave me a small project. The client literally said, “Kate blew some of our more senior writers out of the water.”

That one small project has led to hundreds of thousands of dollars in work over the course of our 10-year relationship.

This isn’t uncommon. Just like you want to help your clients build that know, like, trust factor with their audience, you need to build that KLT factor with your own prospective clients.

What About Listing Package Pricing?

This is another case where you can set yourself up for frustrating conversations. Say you want to sell a package for online business owners with web copy for five pages, a welcome email, and a Facebook ad. Even if you say something like, “starting at $X” you’ve now created an anchor price in your prospective clients’ brains.

You get on that discovery call (make sure to check out our video below!), you talk with your client and realize they do, indeed, need this package. But their five pages require a lot more time and research to create than your base rate.

So, you send the client a rate twice as high as your base price. What do you think your client is going to say?

Best case: They’re totally fine with it. Worse case: you’re potentially going to find yourself justifying rates more than you need to.

Have packages in mind so you can easily present options to clients, but there’s no need to present it on your website.

What If All I Want to Write Are Email Funnels?

First, choosing to focus on one type of deliverable will significantly limit your copywriting opportunities. And, especially when you’re first starting out, who wants that?!

The niche trap applies to industry as well as deliverable. You can certainly focus on email funnels, but if a client wants a funnel and other work, why risk that client dropping you for another copywriter who can deliver it all?

If you do focus in on one type of deliverable, you may think, “well, won’t it take me the same amount of time to write any type of email funnel?”

Probably not. Every client is different.

One client may want significantly more content in each email than another. Or you may find certain clients need more meetings to review copy.

You want to give yourself the flexibility to adjust rates based on the situation (and as you go on in your career, you’ll get a pretty good sense of which clients may need more hand holding than others).

So, as with everything, it’s your copywriting business. You can absolutely include rates on your site. But before you do, weigh the pros and cons. What’s the benefit to you? Does that outweigh the potential limitations you’re placing on your business?

Watch More: How To Nail a Discovery Call

In this episode of the Build Your Copywriting Business podcast, three CCA students each ask their most pressing questions. Discover what Nicki and Kate tell Lindsey about the best way to approach a discovery call.

Your Turn

Do you include prices on your copywriting website? Why or why not? Tell us in the comments below!

The post Should I Put Prices on My Website? What Copywriters Need to Know appeared first on Filthy Rich Writer.

First, let’s define the difference between content writing and copywriting so we’re on the same page: Copywriting is advertising and marketing writing; words that are designed to sell or persuade. Websites, emails, banner ads, brochures, magazine ads, billboards, etc. Content is writing that’s designed to educate, entertain, or inspire. Think: blog posts and articles.

They’re both forms of writing, but copywriting requires more training, more skills, and more mastery and, thus, it pays much better. I’m not saying that content writing is easy, only that it’s easier. They’re both climbing mountains, but one mountain is steeper.

Professional copywriters know the difference between copy and content. But they also know that, as copywriters, it’s likely that their clients will want them to write content at one point or another.

But what too many copywriters don’t know (even the pros!) is that they shouldn’t be charging content rates for copywriting work.

Why Content Writers Aren’t Paid As Well as Copywriters

You’ll find that, in general, content works pays a lot less than copywriting. There are plenty of jobs offering content work at $0.05 a word—as if that’s actually a reasonable price.

Part of the problem is that people don’t think content writing requires any expertise and, as such, there’s a glut of writers in the market. On top of that, companies want (and even expect) to get content writing services cheaply. These companies also don’t even know how to screen for a certain skill level and so, the market is flooded.

But just because there are a lot of unskilled writers out there writing content, and there are some people (those writers included) who don’t think content benefits from expertise…well, doesn’t mean that it doesn’t benefit from expertise!

Are there content writers who are paid well per article? Absolutely. (Many of them are also copywriters charging their copywriting rates for content writing.) However, too often content writers charge by the word. As a copywriter, you know this makes absolutely 0 sense. You’d be penalized for doing your job well. Even content writers know that writing more for the sake of writing more doesn’t produce a quality product.

Why Copywriters Are Paid Well

Copywriting, on the other hand, pays well because it requires a higher level of skill and often directly translates to helping a client increase revenue. Of course, there will ALWAYS be some clients that try to get great copywriters for cheap, just as there are always people trying to get anything for cheap. But in the professional world, clients are generally willing to pay well for good copywriting.

So, all of this is why I teach copywriting: it’s more challenging, more interesting, more versatile and it pays better. If you want to make six figures as a copywriter? It’s absolutely possible. If you want to make six figures as a content writer? Unfortunately, good luck.

Copywriters Can Charge Copy Rates for Content Writing

But here’s the thing: Just because we’re copywriters doesn’t mean we don’t write content sometimes. In fact, I have a couple of clients who ask me to write a few blog posts periodically in addition to their copywriting projects.

Content writing can and should be strategic, and your training as a copywriter helps to make it more so. You know how to focus on benefits, speak to your target audience, and inspire action and content that is built with that kind of backbone is more effective.

Skilled writers produce more effective content than unskilled writers and, as such, should command higher rates.

So what does a copywriter charge for content work? Do we charge the 10¢ a word (or less!) that many content writers have to settle for? In three words:

Oh HECK no.

When I (and my students and other professional copywriters) write content for our clients, we charge our copywriting rates. Why? Because our clients are still getting the extra level of strategy and insight that our copywriting training has given us, now infused into their content and content strategy.

Sure, some clients may want to find content elsewhere for cheaper (and best of luck to them!) but most of them respect my skill, what I have to offer, and are willing to pay for it.

I would strongly suggest you structure your rates similarly. You deserve to work with clients who are willing to pay according to your level of skill, and you bring so much more to the table than your average writer.

Becoming a copywriter doesn’t mean that you’ll never write blog posts again if that’s what you like to do. It means that you’ll write them better and you’ll command higher rates for your services—which is a win for both you and your client.

How to Add Content Writing to Your Copywriting Services

If you’re a copywriter looking to add content writing to the services you offer clients, watch this video before getting started. (And, make sure you’re charging your copywriter rates!)

Your turn! What appeals to you about copywriting versus content writing? Or vice versa? Let me know in the comments below.

The post What Should Your Content Rates Be As a Copywriter? appeared first on Filthy Rich Writer.

I was watching an online training about freelancing a few weeks ago, and something the trainer said threw up a big red flag.

(By the way, I’m always taking new trainings and watching webinars to pick up whatever new tactics are out there. I strongly encourage you to do the same. You may know a ton already, but there’s always a new insight to gain.)

Anyway, this trainer was talking about how to price your services. He asked the studio audience how much they charge and then said, essentially,

“Okay now: Double it. And, once you get lots of clients at that rate, double it again.”

Double it again??

Wait a minute here. As a new copywriter, if you take this advice, you will price yourself right out of business.

I do agree that many service providers are undercharging for their expertise. And I do believe that you should command rates that are worthy of the value you provide.

But…as a new copywriter…your work just isn’t worth $150 an hour.

YET. Will it be eventually? If you keep working and getting experience and honing your skills? Absolutely.

But right now, within the first few years of your copywriting career, if you double and double your rate, you’re going to price yourself right out of business.

How to Price Your Copywriting Services Starting Out

When you’re building your experience and your business, you need to charge a reasonable rate. Reasonable means that:

1. It adequately compensates you for your time
2. It’s a price that’s similar to the going market rate for your level of experience
3. It’s a price that your level of clientele is willing to pay

It’s very easy to get squeamish about your rates and charge too little. Very easy. This is one of the biggest reasons that people “don’t make it” as a copywriter. They charge too little, or they charge by the word. (Read more about why that’s a huge mistake here.)

But you also can’t go too extraordinarily high over the going market rate for your level of expertise. If you’re new to copywriting and new copywriters generally make around $50 an hour in your city, no one’s going to hire you for $150 an hour.

(Or, if they do once, they’ll certainly never do it again.)

Now, of course, you may be using your hourly rate to calculate the total project price.

Consider Your First Clients

Remember, too, that your first clients are going to be local small business owners, then likely design shops, and newer solopreneurs. It’s very probable that they simply can’t afford to pay you $160 per hour for a 15-hour project.

I have no problem with you trying to make as much as you can. In fact, I fully support it! Part of the reason I started this business and created our trainings was to help writers earn comfortable, even cushy, incomes.

But you have to be sure that your rates don’t price you right out of your career. Pricing your services may never be a comfortable subject for you. However, when you calculate what’s reasonable to charge, you have a good baseline to work with.

And then, later on when you’ve developed a great deal of expertise and built a robust portfolio of work, then you can think about doubling your rates. You’ll be able to command these rates because you have a portfolio of work and experience backing it up.

But if you still need work in your portfolio? You can still price your services so both you and your client win. Remember: $50/hour will get you to six figures.

Your turn! What’s the trickiest part for you about calculating or telling new clients your rates? Let us know in the comments below!

The post Why Most Advice About How to Price Your Services is Dead Wrong for You appeared first on Filthy Rich Writer.