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What To Charge For Writing
11/23/2018 at 3:05 PM ET
I am trying to find out if the time spent researching an article, press release, etc. is included with the quoted fee? I have done some PR's and marketing articles but the research takes me hours to do. If you're quoting $70 for a 750 word count PR and it takes 7 hours to complete the hourly rate comes to $10. And if you quote $45 for a 1 page marketing article (roughly 615 words) and it takes you 10 hours then the hourly rate is a mere $4.50. I believe my time is worth around $20 per hour so I am a bit confused as to what and how to charge for my services. I read that it takes at least nine hours to write an awesome press release, not including time spent on research, and 32 minutes to write a potentially awful press release. Any thoughts?
11/23/2018 at 6:56 PM
You charge based on the value to the client of your work.
Work on proving that your total effort (7hours (x $20/hr) + 30min (x $20/hr)) is worth $150, no matter if your competition is charging $70.
The client doesn't care how many hours it takes you – it only matters how great the value is to them.
11/24/2018 at 8:30 PM
Jay is exactly right. The fee should be whatever the client thinks it's worth. Your challenge is to make it worth enough to justify the fee you want to charge.
There are copywriters who earn $1,000 per hour. There are others who struggle to earn $20/hour. The difference is NOT how much time they spend on the project. It IS how valuable their deliverable is to the client.
Next point: Your fee should not be based on the time you spend. You should bid a project with a fixed fee stated up-front. Figure out what will be required and what it's worth to the client. When you charge based on time spent, you are motivated to work slowly and inefficiently. Copywriters who do good work fast are not being fair to themselves if they are billing for time spent.
P.S. Good press releases don't take longer to write than bad ones. The quality of a press release is a result of the EFFECTIVENESS of the creative. Period. Don't focus on time spent.
11/24/2018 at 11:04 PM
Thanks for the advice. It gives me a whole new way to look at it. Definitely some tings to think about. Thanks again.
11/26/2018 at 6:48 PM
Another thing to think about is that you can price yourself out of the market. Try finding ways to do the research in less time. It sounds like you're going overboard for the type of customer you're dealing with.
Let's say your customer is looking to spend no more than $.10 a word,then you either need to figure out how to do the research much more quickly, or find clients that value your work a lot more.
If you're just starting out, or not in the $1000/ hour range, I suggest cutting down on research time.
11/27/2018 at 6:15 AM
Thanks for the advice.This is true-The fee should be whatever the client thinks it's worth. Your challenge is to make it worth enough to justify the fee you want to charge.
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11/27/2018 at 4:48 PM
Personally, I prefer ongoing long-term relationships with clients. This way you can invest more time understanding your client and their offering and their market. What about trying an ongoing subscription, charging one price for individual press releases, and a lower price for a series of press releases, so many per month?
11/29/2018 at 1:39 PM
Thanks to all of you that responded. Got some great advice! Later.
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