Most people want to start working online for its numerous benefits. For one, you can earn income while staying at home. And you can have more time compared to careers that need commuting to the office.
With just a laptop and a stable internet connection, you’re good to go. How cool is that!
But with all the potential advantages, the biggest question is, how much do you charge? If you’re confused and want a baseline, here are 6 practical tips for pricing your online services as a freelancer or remote worker in the Philippines.
Know the Value You Can Offer to Their Business
First of all, many freelancers or remote workers think that they should charge depending on their living expenses. That’s a valid consideration. But that should not be the main reason. After all, your would-be clients only care about the benefits for them.
So ask yourself, how much is that value you can give to their business. It can be in terms of more sales, increased engagement, cost savings, and more.
For example, you’re a freelance copywriter. Suppose your sales page will generate roughly $20,000 in sales. A charge of $1000 – $2000 is relatively cheap for the benefits.
Know the Market Rate
But you can’t charge unreasonably high prices just because. You also need to know the market rate for your services. Imagine charging $20 per hour for a simple typing job? I don’t think anyone will get you.
So join forums or ask your friends in the field for the going rate in your market.
Charge Project-Based if Not Confident Yet
If you’re still a beginner, you can opt to charge per project first. Because you haven’t honed your skills yet, it might take you a long time before you finish some tasks. Charging per hour might result in subpar work for an insane price for your client.
That’s why if you are not confident yet, you can charge a project-based rate to spend as much time without compromising quality for your client.
Join Agencies with Decent Rates
If you want to be charged an hourly rate as a beginner, joining agencies with decent rates might be best.
Reputable agencies can offer competitive rates even as a beginner. And it’s suitable for people who can’t market themselves yet.
You can check this high-paying online jobs list to get a gauge of how much an agency should pay you.
Charge Hourly Rates if You’re Experienced
If you’re already an experienced freelancer, you can confidently charge per hour.
With all the projects you’re getting, you have the right to charge an hourly rate for your services. After all, your time is valuable. It’s the level where you can compute rates that are worth it, depending on your preference.
Charge Per Project if You’re an Expert
Sometimes, when we are experts for something, it would take less time to finish projects. In this case, you will lose money from the deals if you charge per hour. That’s why you should charge again on a per-project basis.
If you’re at the expert level, clients are not paying for your time alone. They are also paying for the mastery of your craft. Yes, you can finish it faster, but it doesn’t mean that it lacks quality.
At the expert level, you will be raking sizable pay. And you deserve it because of the time you have given to excel in your field.
And when you can give the best value to your clients regardless of how long you finish it, it will still be worth it for them anyway.
Pricing your project deals can be a daunting task. But with the tips above, you can ensure that you will give competitive rates to your clients while delivering the best value possible. Good luck with your online journey!