So, following up on part 1, now you have your ranges:
1) Total Task Price
2) Market Price (high and low)
3) Budget Average (high and low)
What now?**
Well, now you can stack them up, like in the table below. Once you have that, you can finally use your price with intention, wielding it like a tool instead of flopping it on the table in front of a client and hoping it survives the encounter.**
A couple of tips:
– Never, for any reason agree to go under the “total task price” because at that point (marked with “L” in the table) you are effectively paying the client to work for them.
– Point “H” is for the desperate moments only
– Point “F” should be your default, just another Tuesday go-to price.
– Positioning point “D” just over the high market average is deliberate. It’s an average after all:)
– Point “B” should be high enough to ward off 90% of bad clients, but not so high that it’s unambiguously clear you are “taking the piss”, as the Brits say. I’m known to call it the scarecrow price and some less-than-polite variations. Use with care.
The trick with pricing is it’s not about finding the one price that fits them all. Clients and projects come in many shapes, and trying to cover them all with a single price point is simply inadequate. Trying to shoehorn it all to have a simple answer to “how much” often risks damaging the relationship, the wallet, or both.