If you want to liven up a conversation among freelancers, ask whether you should put your editing prices on your website. In no time at all, you’ll get as many opinions as there are freelancers. And many people will be convinced that their solution is the only one.
The question, as my pal Amy J. Schneider likes to say, is a “how long is a piece of string” question. Your business doesn’t look like anyone else’s. And as a result, whether to put your prices on your site will depend on who your clients are, how you operate your business in general, and how you sell your services in particular. What’s right for one editor may not work for another.
In my book, The Chicago Guide for Freelance Editors, I talk in detail about how to set your rates (chapter 2) and the basics of what you need for a website (chapter 7), but I don’t discuss this most frequent of frequently asked questions.
In today’s post, I’m going to help you answer the question for yourself by talking about the benefits and drawbacks to putting your prices on your site—and add some compromises you can consider.
The Benefits of Listing Your Prices
By listing your prices on your website, you’re building trust in prospective clients. It shows that you have confidence in those prices.
The editing you do on a manuscript will be unique to that manuscript. By sharing your prices, you’re signaling that no matter the manuscript’s needs (within the agreed-upon scope), you’ll charge a predictable amount.
Listing prices also allows prospects to determine if the service is affordable before they reach out to you. If you offer packages, they can see the value of those packages and perhaps be encouraged to purchase more than one service, netting you more work.
Too, for those prospects who can’t afford your services, seeing your prices on your site may discourage them from contacting you and wasting everyone’s time.
Why Keeping Prices Private Works
Listing your prices may nudge your potential client closer to choosing you as their editor. But it may also make cost one of the key reasons they choose you.
Winning a client at least partially on price isn’t always a winning business strategy. It can lead to a roster of clients for whom price is crucial. And when you raise prices (as you should regularly) or are in an uncertain economic environment, those clients might be the first to leave.
By not listing your prices, you create a bigger opportunity to persuade a prospect that you’re the right editor for them and not rely as much on how much you charge.
Once prospects reach out, you have the opportunity to find out more about the prospect and their project. Particularly for clients who don’t understand editing well, it gives you the chance to educate them on how editing will help remove obstacles to their publishing goals. You can also advise them on a more appropriate service without having to also change their mind about the cost.
When you have the pricing discussion later, you also have the opportunity to negotiate if your full-service price is too much. But don’t negotiate the price! Instead, negotiate the work you do on the manuscript to help balance their need with their budget.
Maybe your prices vary depending on the project or client. Seeing different pricing can be confusing for prospects. It may encourage someone to ask for a lower rate than they’re eligible for. This forces you to start a conversation on the defensive, trying to persuade someone that they must pay the higher price. That’s a tough place to negotiate from.
Compromise Approaches
If you see benefits on both sides of the argument, you can compromise by listing the median price of your service on your site, noting that pricing is finalized later. Make sure you’re clear about the variables that influence pricing so prospects know what to expect.
Or you might share example projects and their pricing. Include the service, the type of manuscript, the length, and anything else that might affect pricing, such as complexity of the manuscript, level of intervention needed, or deadlines. Help prospects get an idea of which example is similar to their own project.
Making the Decision That’s Right for Your Business
In the end, whether to list your prices is an individual decision. It’s based on many variables, including:
- Who your clients are
- How much they already understand editing
- How you approach selling
- Whether you need to discourage or encourage prospects to contact you
The best way to decide the right approach for your business is to try one out. Does it lead to winning more work at your desired price? If not, what changes can you make to draw your ideal clients to you and persuade them to hire you?
Want More?
Websites can be a big driver of new work for freelance editors, but they can also be a big stress. This spring, I’ll give a series of webinars to teach you more about how to build and maintain a business website. Sign up for our newsletter to be the first to receive the announcement.
If you’d rather have one-on-one help, I offer website reviews. I’ll evaluate your existing website based on your business goals or help you create a strategy for a new site. Either way, you’ll get guidance on a website that works for your business.
