One truth across all service industries is that there will always be another freelancer or creative professional offering the same types of things for a cheaper price. Instead of engaging in a race to the bottom and not getting compensated appropriately for your skills, learn how to compete on another level. With intelligent marketing and a focus on quality, you can raise prices and still succeed.
Forget the Race to the Bottom
Far too many freelancers and other online professionals believe they have to keep charging less to get attention. Eventually, this leads to a glut of incredibly inexpensive offers made by people who cannot deliver anything sufficiently valuable to the clients. It also creates buyer expectations that they will be able to get an exceptional article, marketing video, or display ad for an incredibly small amount of money.
Do not start running this race to the bottom unless you want to work 15-hour days and barely make minimum wage. You can compete with cheaper price offers and succeed.
Four Tips to Remain Competitive When Charging Higher Prices
1 – Offer higher-quality products or services. Become the expert that people need and make sure they know that your offers are better than your competitor’s.
2 – Market to a different group of people. True professionals who need the types of services you offer are not looking for the cheapest option; rather, they are looking for the best. If you market effectively to them directly instead of throwing your low-priced offer in with everyone else, they will get your message and respond to it favorably.
3 – Present yourself as a true professional. Maintain a high-quality website, engage on social media in an effective manner, and network with other business owners and freelancers to establish yourself in a niche or industry.
4 – Do not give in. Marketing data through the decades has shown that giving occasional discounts is a more effective way to attract attention than having a super-low everyday price in many cases. If you want to lure away some of the low-price seekers, create a coupon or special offer. However, make this a temporary situation, as you want potential clients who understand the value you bring.