How To Go From A $100 Side Hustle To $10,000/Month Writing Business

How to Charge for Freelance Writing Services

In this video, Alex discusses the four pricing models that she has used as a copywriter. She explains what's great and not so great about them and what you need to know in order to build a long-term $10,000/month copywriting business.

Hourly Charging

• Charging based on the number of hours you work is probably the most straightforward way to help your clients understand what they’re paying for.

• Hourly rates are recommended for ad-hoc or ongoing general tasks that don’t require heavy briefing.

• One downside of charging by the hour is that clients might expect you to work faster and measure your results based on time instead of value.

• Fixed & Project-Based Pricing is another popular pricing model.

Fixed & Project-Based Pricing

• Fixed pricing is when you quote a flat fee for an entire project, usually based on the time and effort it will take you to complete it.

• The best part of this pricing method is that you always know exactly how much you’re getting paid, which will help with cash flow and overall finances.

• However, if there are any changes or revisions requested by the client, it can be difficult to adjust the price accordingly.

Value-Based Pricing

• Value-based pricing takes into account the value that your services bring to your client's business rather than just the time spent working on a project.

• This approach requires more research and understanding of your client's business needs but can lead to higher profits.

Retainer Pricing

• Retainer pricing involves charging a fixed fee for a set amount of work each month.

• This pricing model is great for building long-term relationships with clients and ensuring consistent income.

Conclusion

• There is no one-size-fits-all approach to pricing freelance writing services, and it ultimately depends on the scope of the project, the client, and your level of experience or expertise.

• It's important to communicate clearly with clients about pricing and ensure that both parties are on the same page before starting any work.

How to Price Your Copywriting Services

In this video, Alex Cattoni shares four different pricing methods for copywriting services. She explains the pros and cons of each method and provides tips on how to choose the right one for your business.

Hourly Rates

• Hourly rates are a good option for beginners who are still building their portfolio.

• It's important to track your time accurately and adjust your rates as you gain more experience.

• Be transparent with clients about how long a project will take and what they can expect in terms of deliverables.

• Consider offering package deals or discounts for larger projects.

Fixed Pricing

• Fixed pricing is a good option for projects with well-defined scopes of work.

• It takes some experience to estimate the amount of time required accurately, so be sure to include room for contingencies and potential scope changes.

• Run through a few clients to find the sweet spot for pricing your projects.

Revenue Share

• Revenue share is an unconventional way of getting paid that works best for deliverables directly written for sales like sales letters, webinar scripts, sales emails, and promotional campaigns.

• Be clear on how revenue is collected, measured, and distributed before agreeing to this pricing model.

• This model has huge upside potential if your copy generates significant sales but also comes with risks.

Retainer

• A retainer agreement is where you allocate a specific amount of your time each month exclusively to one client's needs in exchange for a set and steady income.

• This pricing model gives you a reliable cash stream and the ability to develop a great long-term working relationship with your client.

• The secret to getting paid on retainer is to lead with value, consistently over-deliver, and prioritize working with clients that want an ongoing partnership.

Conclusion

• Work towards revenue share and retainer-based pricing but start with hourly and fixed pricing models.

• Say no to low-paying clients to make room for high-paying ones so you can build a 6-figure writing business.

• Check out Alex Cattoni's 8 Pricing Tips video for more information on how much you should be charging for your copywriting services.