As freelance copywriters, we often struggle with earning enough money to live on. In most cases, the answer is simple: increase our copywriting fees. But how do we do that? Where do we find the money to charge more? How can we convince potential clients that our services are worth what we’re asking for?
Here are a few ways to increase your copywriting fees successfully. Follow them, and before you know it, the money will start flowing in.
Focus On The Biggest Challenges A Client Might Face
In the beginning stages of any project, you and your client will have a chance to establish a rapport. Over the course of the project, you will build trust with the client and gain their confidence. As a copywriter, you will often find yourself in a position where you are asked to tackle thorny problems for clients. When you’re faced with these sorts of challenges, your copy will typically reflect the complexity of the task at hand. For instance, if you’re asked to develop a web content strategy for a global beauty company, your articles will likely have a strong focus on brand strategy, web design, and e-commerce.
If you’re presented with a complex problem, you may choose to break it down into simpler pieces. For example, if you’re asked to create a content plan for a digital marketing agency, you might decide to tackle this project in four parts:
- Overview of current strategy
- Long-term strategy (including key performance indicators)
- Medium-term strategy (including key performance indicators)
- Budgeting (including key performance indicators)
Offer Reasonable Rates
One of the mainstays of any freelancer’s income is the ability to charge what they’re worth. Unfortunately, this often puts us in a situation where we’re not really compensated fairly for our work. Even worse, we sometimes feel as though we’re being taken advantage of because we’re not familiar with the marketplace. In the case of freelance copywriters, this might mean we don’t know how much other copywriters are charging for similar tasks. When you become familiar with the costs associated with creating a certain type of content(such as e-books, case studies, and website content), you will have the ability to set your rates fairly high without fear of being undercut by competitors.
Unfortunately, some businesses can be a bit insecure around money. They may not expect to pay high rates, and if they do, it can make them feel like they’re being taken advantage of. In this case, you might have to work your wits somewhat to convince the business that you’re worth what you’re asking for. Remember: you’re under no obligation to take on a project if you’re not feeling confident that you’ll be able to complete it successfully. In the end, it’s all about what’s in it for both of you.
Establish Your Name
In most cases, freelance copywriters will find that the more we establish as authors, the more we will be paid for our work. After all, in the eyes of the general public, your name is essentially your reputation. A brand new author with no name recognition will usually have to settle for the lowest rates possible. However, if you want to charge more, it’s all about building your name slowly and surely. The more you write, the more you will establish yourself as an expert in your chosen field. You can then start to charge higher rates and eventually become the go-to person for your chosen topics. In the process, you will establish yourself as an expert, build a valuable reputation, and ultimately earn a higher income than you would otherwise have earned.
To establish yourself as an expert, you must first prove that you are one. The best way to do this is by writing and publishing articles on a regular basis. Once you’ve created a handful of authoritative pieces, look for the opportunity to speak at a conference or event. By doing so, you’ll be able to establish yourself as an expert in your field. From there, it’s simply a matter of gauging the interest of potential clients in your services. If you want to charge more, put yourself in a position to demand it. Establishing yourself as an expert in your chosen field will not only help you get more clients, but it will also help you get paid more for the work you do.
Present Yourself As A Self-sufficient Individual
As part of your freelancing business, you may end up taking on various projects that have varying degrees of complexity. In the beginning stages of your career, you may find yourself taking on more complex projects as you establish yourself as an expert in your field. While it’s good to accept work that you can complete successfully, it’s also important to remember that you are not obligated to accept every project that you’re offered. If you want to charge more for your work, it’s your duty to ensure that you’re charging what you’re worth. This way, you’ll establish yourself as a confident, self-sufficient individual who is capable of taking on projects of any size or complexity.
As a freelance copywriter, you have the power to set your rates fairly high. While this might seem like a good idea at first, you must remember to factor in all the business costs associated with being a professional. These include:
- Health insurance
- Workplace insurance
- Holidays and sick leave
- Equipment (such as a laptop)
- Investment in tools (such as WORDPRESS)
- Travel costs (to and from work)
- Childcare (if you’re working remotely)
- Lectures and seminars
- Continuing education (such as professional development courses)
All of these factors go into what is effectively your income. By taking the time to understand how much all of this costs you, you’re able to set your rates fairly high without concern for your financial security. This way, you’ll attract more potential clients and earn more money than you otherwise would have.