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Freelance Pricing – Winning Business

Are you winning your freelance bids or losing them? Do you “stick to your guns” when it comes to hourly rates and pricing? If you are an established freelancer then you may not need to read this article because you already have customers that understand the value that you provide. When you are trying to “break ground” on a new freelancing career or expand a slim selection of customers it is important to  understand where you sit in the realm of client development.

Bidding Low

I understand that sometimes it isn’t worth taking a job for less than you require financially. Remember, long term opportunity can outweigh short term losses but a careful approach is required. If you are using a provider through a system like Elance or ODesk then consider the following when determining long term potential:

1. Does the provider have a long term history with consistent job offerings?
2. What are other freelancers saying about the provider?
3. Is the provider consistently offering similar work or does it appear to be inconsistent? (important for steady work that fits your niche)
4. Does the provider profile and style match yours? (is it a good personality fit)

Asking yourself these questions can help determine if there is long term potential for the relationship. Don’t undercut and reduce bids to get any and all business but maintain a strategy when you do. Also, establish a solid portfolio and pricing schedule based upon well founded market research and provide an easy to understand value proposition. 

Getting The First Job

Make sure you establish your foundation first and you will get hired often . Respond to the specific requirements of the provider and offer them a compelling reason to take a chance on a newbie. Make sure you are priced competitively and consider offering a money back guarantee or extra incentives to be hired. Incentives may include free articles or designs for future projects, like a verbal voucher. You could say something like this:

Dear Acme Corp,  I am a new provider here on (Elance / Odesk) and I am looking to establish my work history. Although I normally charge $XX , I am willing to charge $XX in order to establish my work history and build a long term relationship. Additionally, If you decide to select me, I am offering two free articles (200-500 words) that I would provide in addition to the successful completion of this job. I only ask that you use this free offer within the next 60 days and that you take the time to write an honest review of my work. Please take a few moments to review my portfolio. I think you will find my work to be professional, accurate and relevant. I look forward to working with you.

Regards,

Joe Freelance

Farm For More

If you have already completed work for providers, consider contacting them and asking for more of the same. Be sure to ask for referrals and testimonials from your best providers. You should be going back to past providers more and more while seeking less new work.A healthy network of past relationships should provide 75% of your work.Not all providers are good ones and many of them don’t understand why it’s important to establish a strong group of freelance talent but the ones that value what you offer should be willing to help you.

Don’t be afraid to fire the providers that seem to be eating your time. there are good customers and bad customers, fire the bad ones and spend more time helping your good ones while continually seeking referrals. Remember, when you are good at what you do, people want what you have to offer.

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