Understanding Value-Based Pricing in Business | See Girl Work

Good freelancers price by the value they provide to their clients. Pricing by value emphasizes quality and benefits, not quantity or speed. Here’s how to implement a value-based pricing strategy.
Since I started my freelance content writing business a little over a year ago, I’ve gone through several iterations of my pricing strategy.

At first, I started charging per project, but then I realized that I didn’t do the math right because I was working more hours than I had quoted on and now the project fee wasn’t compensating me for all the hours worked.

Next, I implemented a time-based pricing strategy and started charging by the hour. I quickly realized that I was taking on plenty of additional tasks that weren’t being billed for. Items such as phone calls, research, admin, in-person meetings, travelling, and briefings.

An hourly rate wasn’t working for me, but either was a project-based fee.

I decided to re-evaluate how I was charging clients for the work I was providing and move into a value-based pricing strategy.

According to an article in Fobes: “Value-based pricing is a technique for setting the price of a product or service based on the economic value it offers to customers.”

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Understanding Value-Based Pricing in Business | See Girl Work.