Pricing for your graphic design services can be a tricky affair. But strategizing it properly will help you find the most appropriate price for your services. As a graphic designer, you wish to get more and more business, while also get paid for what you deserve. Here are some common billing techniques that you can choose from:
Hourly Billing
Decide an hourly rate for the services. The next step is to estimate the number of hours it is going to take to complete the task/project. Multiply the number of hours with the hourly rate and bill it to the client. Sometimes the client budgets are lower than expected. In that case you can reduce the number of hours and bill accordingly.
Having clear-cut terms and conditions is important, so there is no confusion after project completion.
Flat Rate
Flat rates do not depend on the hours worked. The rate is dependent on the nature of the task or the project. Based on the brief given by the client, you would quote a flat rate for the entire project. In this case, you can also mention the number of possible iterations to the task. This can typically be limited to 2-3 times, depending on the nature of the work. A flat rate also has the advantage of communicating the total bill to the client.
Create a Rate Card
A rate card will help you to define your pricing, pertaining to a variety of design tasks. You can list all the popular services you provide and put a price next to each. This can be circulated among clients for future reference.
Here is a simple example:
- Website homepage design – $200
- Logo design – $500
- Style guide – $200
Like this, you can add a complete list of services and mail it to all your clients/prospects.
Revise Your Pricing Regularly
Price is a function of demand and supply. As long as you have regular work and a growing number of orders at the going rate, you can go ahead and increase your price.
Advance Payments
As a designer, you need advance payments to meet your costs and grow as a designer. Getting paid in advance also secures your payments and keeps your business stable.
Use a Time Tracking Tool
An online time tracking tool is a useful way to be accurate about the number of hours you have put in. This helps billing the clients accurately and sending the invoices in a timely manner.
Deciding on the Price
There are quite a few factors that you can consider while defining the price of the design service. You can consider the amount of time it will take for to you to complete the project. One should also look into the kind of effort, and the skill level the project would require. Understand the details of the tasks that would be covered in the project before giving the final price. You can also consider the market situation and quote your price accordingly.
See what others are charging
Studying the work of other designers and the kind of prices they are charging would give you can idea about pricing your services more accurately. Besides that, one also gets to know about the latest trends in the kind of work that is being done.
Your design services can fetch you the price you deserve. You just need to make consistent efforts and be aware of the market.
Author: Veronika Tondon is business enthusiast. She writes about emerging technologies and opportunities for business. She is working as a Marketing Manager with Invoicera, a leading cloud invoicing solution.
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