Should You Create a Rate Card?
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A conversation came up this week in my Freelance Content Marketing FB group about rate cards. I decided to update this post since the question tends to come up relatively often.
The biggest reason that writers use a rate card is to weed out low payers. For me, I try to make it clear that I am not going to be be cheap based on my experience and clients. The biggest danger of using a rate card is losing money because a client wants to pay you more. For me I would rather have to answer a few extra emails from low payer than lose out on thousands of dollars.
No, I’m not being dramatic. If you post that your published rate is $400 a blog post and the client usually pays writers $600, then they are going to pay you $400. And if you write 20 blog posts for them a year, that ads up to $3000 you left on the table. That said, I minimize my wasted time with low payers by qualifying them through email before getting on the phone. That said, for some writers weeding out low payers might be worth the tradeoff, which is totally
Here are five reasons why I don’t have a standard published rate card:
- One rate doesn’t fit all situations. When rates are listed, I usually see a 700 word article priced around $400. While that can be a good rate on the right project, it most likely will yield you a very low hourly rate if the client wants 7 interviews and the topic is highly technical. The rate that is appropriate for a project is really very specific to each deliverable and client.
- There are times that it makes good business sense to take a lower rate. While I aim to earn at least $100 per hour, there are definitely times where I will take a slightly lower rate, such as for ongoing work or a large volume of work. Other times it makes sense is when the project will gain you experience in a new niche or give you a clip with a very high profile publication. If you put your rates on your website, then a client who meets these criteria may not even contact you.
- You don’t want to underprice yourself. I always try to get a feel for a client’s budget and will often ask the question outright before giving my estimate. If you put your rates on your website, then even if a client typically pays higher, you will only be offered the rate you publicizing. Putting your rates on your website is akin to being the first one to show your cards.
- If your rates are not on your website, clients have to contact you to get rate information. If your rates are on the website then potential clients make a decision based on money without giving you a chance to give more information. During an email exchange or phone conversation, you may provide information that shows how uniquely qualified you for the job thus convincing the client to pay a higher rate than they had wanted.
- You lose the chance to add in a PITA premium. High-maintenance clients require more time which reduces my hourly rate. If a client sends up red flags that they are going to a PITA, then I will add a 10 to 20 percent upcharge to my rate to factor in the additional time. But if your rates are on your website then you are locked into the price and lose the chance to add in the premium.
Do you have your rates on your website? If so, why? If you don’t have your rates on your website, what made you keep your rates off the website? What are your thoughts on rates on writer’s websites?
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I completely agree, Jennifer. I don’t include rates on my site either. I feel like there are just too many variables in the equation on any given job to embrace a ‘one size fits all’ mentality….
Lori, Thanks for weighing in and explaining your reasons as well. You summed up my reasons very succinctly.
All good points, Jennifer, which you would think would be self-evident to most writers but are not. I was very surprised to see rates posted on the website of a highly experienced writer. This is akin to a car dealer website posting: “Sedans, $15,000.” Jobs differ greatly. The price for one product is not necessarily the same for another, even if they are in the same category.
LOL, I like that analogy about Sedans being 15000. Thanks for posting and weighing in.
Hi Jennifer–I added a rate page to my site after it was recommended by Amy Harrison in her blog. The basic idea made sense. Post your rates–mainly by ranges ( i.e. landing pages $599–$999)–then the prospect can tell right away if your charges fits his or her budget. This idea has been backed by many name copywriters since. Of course, I’ve noticed not all copywriters adhere to this concept, but since I didn’t want to be rejected for a project because someone didn’t have time to check my prices with me, I added it. Also, the more info you give a prospect etc., the easier it is for them to make a decision–usually.
Dale, Thanks so much for stopping by and posting your thoughts. I think that if you are going to post your rates then a range is the way to go because you are not locking yourself into one rate. Great suggestion for that. I do however, think that copywriting and content marketing writing is a little different. I think that there are typically less variables in copy writing than content marketing writing. A lot of content marketing is actually journalism so the topic, amount of research and number of interviews can vary dramatically. Landing pages aren’t actually true content marketing but fall into copywriting. I do agree that there is some merit to the reason of wanting to give the most information, especially if other copywriters are doing it. I don’t typically see rates posted on the websites of nationally known journalists or consumer pub writers. Interesting food for thought since content marketing writing falls somewhere between copywriting (which is pure sales) and journalism (which is impartial). Thanks again for commenting!!
Valid points; however–for now–I include examples of rates for a few reasons:
1) An example isn’t promising a specific rate, but it does give the business an inkling if we are even in the same galaxy.
2) Just because a client’s budget allows for a higher rate, doesn’t mean I need to take it. My worth is established on experience and results–it is not predicated upon your budget.
3) When I was house shopping, I was much more likely to call an agent who listed the price, even if I didn’t love the number. As a consumer, I am annoyed when there are NO ways to determine potential costs from an internet search. I appreciate straight-forward, predictable interactions.
This said, I have not had to rely on my internet site for client acquisition. For more than a decade, my work with a few main clients has come through word of mouth. Perhaps I would take a closer look at including rates if I were running into multiple new client situations. Thanks, as usual, for your thoughtful blog.
Jennifer, Thanks so much for stopping by and commenting. I appreciate your kind words about my blog. You made my day!
Very good point about your worth not being dependent on a client’s budget. Let me clarify – I was mainly referring to a few experiences that I have had with content marketing agencies that pay all writers a set rate. I aim for $1 word when it makes sense and will quote that rate when asked. However, I recently worked on a project where all writers were paid $1.50 per word. One of my concerns of posting rates would be that I would be offered lower than other writers in a situation like that because $1 per word would be on my website.
I LOVE your idea for an example of rates. And I will actually do a version of that when asked for my rates. I will say that I charge $400 to 500 for a 700 word article with 2-3 sources and $1 per word for technical case studies or white papers. You are correct that this is not a promise of a rate, but just an idea. And I think that if a writer feels compelled to include their rates that this is the way to go.
I use my website for getting new clients, both by including my link when sending LOI’s and clients finding me directly. I have about 1-2 prospects each week email me from finding my website online through search. Since I am getting such a high response, it seems that not having my rates hasn’t kept people from emailing me. They usually ask me about my rates in the first email and I will follow up with a question asking more information about their typical project and then quoting a rate on that.
On a side note – that is FANTASTIC that you haven’t had to search for new clients in a decade. That is an amazing feat.
Thanks Jennifer. Your clarification helps me see it is partly a difference in our types of clients. And, response to your web site indicates that prospects will email to discuss rates. I think I have been writing so long for the same client, that I start to think of a “case study” being a pretty standard thing. This has been a good reminder that the definition can vary, something I should consider in posting rates. I just had the thought that if we were to include example rates, it would be nice to do so alongside an example of article. I know seeing an example of a finished piece that a client is looking for helps me when I’m sending a proposal. That may be an effective way to share rate ranges and examples with potential clients and even guide them into the style and format we feel is most effective.
“I have about 1-2 prospects each week email me from finding my website online through search” – Can you blog about this? I haven’t had a single random person find my site yet. I’ve had people use my contact form but that’s only after they found me thru word of mouth. Is it a SEO issue?
Second, similar to the “same galaxy” comment above I’ve heard of writers posting a project minimum to ward of $5 blog post type clients.
I was hoping you’d say “no” when I read the headline! I’m grateful for your guidance and the FB group!
We work in a niche financial services area and usually charge on an hourly basis @$225/hr, but we do not post this publicly. We’ll indicate our rate to weed out prospects via email. A couple companies have told us they can get blog work for much less and we let them know that’s perfectly fine (but stand firm as that tells me a) they’re cheap and b) they don’t appreciate the high impact expertise we bring). For proposals, we provide the range of hours it typically takes to write / create various content pieces. We also pitch and place content with the media, acting as a PR rep. Most large corporates we deal with haven’t balked at this rate, but some will set a max number of hours a month and approve more if needed. This keeps the bar high for us and them. We’re experienced (ex financial journos) so an op-ed may take 4-5 hours max with v few edits needed. We do also work on a project cost basis. But it’s very much a delicate dance. For instance, one firm was willing to pay $12,000 for specialized financial website copy, and we ended up charging only 9k since we’re quick. In hindsight, we should’ve charged the full whack as they ended up hiring a writer internally afterward so I know they had budget to use up. But I’m very much of the mindset that we deserve our slice of the pie. Lead generation (and our own website) is something we’re still working on. **I’m curious though. For content, do you think it’s time the industry moves on from per-word rates?** PR agencies charge $175/hr (for junior rate) up to $450/hr for media outreach alone…(ie, a couple phone calls).
This is such an interesting debate. I’ve just relaunched my website and I have a FAQ section where i’ve listed ranges of rates for some things. For things like features, where I’m paid between 70c-$1 a word, it’s easy – I seriously doubt any Australian editor is going to offer me more than $1/word in the current climate so I figure I’m safe there. I also put a range in for content marketing, as well. But copywriting, I quote project by project so I don’t list hourly or even day rates. Way too many variables.
I have a rate card too, but it’s more to refer to if I have to do a quick quote for something or look at the bundles of items I sometimes offer, which clients tend to want over and over.
[…] For some part of my career as a freelance content writer and copy editor, I had a rate card that showed my rates for different services. These days, I will provide quotes based on the client’s description of what they need. Jennifer Goforth Gregory at The Content Marketing Writer wrote a post with five reasons on why to not publish a rate card: […]