Money, money, money. This is the one thing that most potential clients are concerned about when deciding whether or not to push forward with a marketing campaign. If you work in video production, web design, graphic design… well, just about any creative field, it can be frustrating when clients want more for less money. Somewhere along the way the true value of what we provide hasn’t been communicated. Maybe the fault lies not with the client, but with ourselves.
Let me explain. In a post last year I discussed the importance of knowing what you’re worth. As a freelancer and small business owner you need to be confident in the quality of your work and the value of your time. Your rates should reflect this view. However, during leaner times we sometimes find ourselves desperate to land the next job. And what do we do? We “low-ball” our bids in an effort to beat out our competitors. Over time, this approach has two effects.
- The marketplace is cheapened.
- The bar is lowered for everyone, creating a new price standard by which all other creative services are gauged.
Before you bid on a job, you have to decide what your ultimate goal is. If you simply want the job, so you can get something on your reel or in your portfolio, then you will probably try to undercut the competition. Keep in mind that if you cut your rates just to land the job, the client will expect more of the same from you down the road. They will continue to up the work load while trying to talk you down on price.
The alternative strategy is to let the quality of your work speak for itself. Communicate the value of what you will deliver. Tell your client that you want to provide them with the most competitive product, not a quick fix. Reinforce the idea that compromises both financial and creatively will ultimately compromise the end product. And if the client continues to balk at your bid, don’t be afraid to walk away. If the client’s entire focus is on money, then the relationship might not be a good fit for you.
