Copywriting fees

Joined: 01 May 2006 Posts: 2

Has anyone bought Chris Marlow's "2005 Freelance Copywriter Fee and Compensation Survey?"
I ask because I am stumped for figuring out how much to charge and thought this might be good -- but it is expensive. Wanted to find out if there are any opinions out there on this book?
Penny

Joined: 13 Jan 2005 Posts: 132

I haven't bought it. But I can tell you where I started and how I determine what to charge.

It's not very scientific.

Wrote my first sales letter for $500 bucks. Immediately afterward, decided that $500 was no where near enough money for the amount of work I put in (took about 12 days).

Raised fees to $1,000. Soon I was overwhelmed with $1,000 jobs.

My financial thermostat bumped up a few degrees and I raised my rates to $2,000. Soon after I was again overwhelmed with work.

This cycle has repeated itself a few times over the past 5-6 months.

So that's what I do. Hope it helps.
-

Posted: Tue May 02, 2006 6:03 am

I bought it.

She lists more than just sales letters quotes. There's brochures, newsletters, web pages, and lead generating as well as sales generating prices.

It's broken down by the respondents' number of years experience as well.

When I bought it, she was offering a $$ back guarantee. I don't know if that's still in effect or not, but if you buy it and don't like it, and the guarantee is there, you're good to go.

It gave me all the confidence I needed to quote a price for my first job. At least I know what's ball park.

HTH,

Joined: 01 May 2006 Posts: 2

Thanks for the input. I think I am going to buy it. It'll mean one less thing to guess at.
Happy writing,

Joined: 11 Feb 2005 Posts: 252 Location: Denver, CO

Be careful not to let the averages get you "stuck."

You might begin to think you can't charge more than the report tells you to charge.

Like Matt, I just winged it.

My first letter was $1,000. Did a few of those.

I pretty much went from $1,000 to $5,000 and was comfortable there for a few months.

Just increased my rates a couple weeks ago and I'm now at $6,000.

Here's the big secret: Start charging something, then increase it. Wink

Ryan

Joined: 15 Nov 2005 Posts: 154 Location: Halifax, NS Canada

I agree.

Better to learn how to position yourself for maximum fee's then to "subscribe" to averages.

That said the report is a great reference.

Shaune

Joined: 28 Dec 2004 Posts: 61 Location: Minnesota

Quote:

Here's the big secret: Start charging something, then increase it. Wink

Ryan - you cracked me up with this Laughing

. I think it has something to do with
the fact that I tend to let all those internal "what if" thoughts complicate things
waaaay beyond all reason. Excellent advice on keepin' it simple.

Sandy

Joined: 26 Jan 2006 Posts: 5 Location: Ft. Worth, TX

Marshall, Shaune, RMH

When you say you make X number of dollars for a "letter," do you mean just the letter? Or are you referring to the complete DM package?

Joined: 11 Feb 2005 Posts: 252 Location: Denver, CO

Depends on the project.

I often do the name squeeze page, autoresponder, sales letter and order copy for one price.

Once you're doing the sales letter, the other stuff goes fast.

Economies of scale.

Ryan

Joined: 25 Apr 2006 Posts: 89 Location: Lacey, WA

In pricing your services, you may wish to start at an "introductory" rate, just to get your first set of clients...of which you gather writing samples, testimonials, and referral business from...then as time goes on increase your rate until a couple of clients say "that's waaaaaaaay too expensive". Remember, you did what you had to getting your first three, five or ten clients, so negotiation will be much easier...

Just a thought Very Happy

Joined: 17 Apr 2006 Posts: 52 Location: Stratford, Ontario

penwriter wrote:

I ask because I am stumped for figuring out how much to charge and Penny

How much money will your copy generate for a business?

That should help you decide your fee.

John

Joined: 25 Apr 2006 Posts: 89 Location: Lacey, WA

DO NOT DEVALUE YOUR SERVICES!

Sorry, just get excited when I see any possibility that might happen Very Happy

Penwriter,

Remember one key point, you are a Professional Direct Marketing Copywriter. That is not a profession to take lightly! You offer services that can literally EXPLODE a business (in a good way). You can change lives! Your services are such that EVERY business NEEDS, not should consider, but NEEDS THEM!

With that in mind, pricing your services too low can actually do more harm to your future opportunities than it can help your first or current opportunities!

A couple of questions I use in my interview process with a client is (after you have established rapport with the client):

1) Have you prepared a marketing/advertising budget for the year/month/week?

2) If so, what types of marketing/advertising do you currently employ?

From the answers to these questions you can establish what the client initially intended to invest in marketing their business. You can then use that information to price your services accordingly, so you do not blow the client out of the water. You may also use this information to determine if the client is one that may not be able to afford your services.

If you are a skilled coach or consultant (sorry, don't know your background) then you can also consult appropriately to help the client reach a different mindset about marketing their business.

Just information for you, take what you would like from it.

Joined: 10 Apr 2006 Posts: 3

Assuming you are a competent writer...you can get pretty much what you're willing to ask for.

If you ask for $1,000 you'll get it. And you'll get a flood of $1,000 clients.

If you ask for $7,500 you'll get fewer clients. But then...you won't need as many, will you?

Joined: 04 Aug 2005 Posts: 59

Definitely Wink

If you ask for 1k, most likely you'll be ripped off by seasoned guys.

Ray Edwards wrote:

Assuming you are a competent writer...you can get pretty much what you're willing to ask for.

If you ask for $1,000 you'll get it. And you'll get a flood of $1,000 clients.

If you ask for $7,500 you'll get fewer clients. But then...you won't need as many, will you?

Joined: 21 Oct 2005 Posts: 86 Location: Seattle

Excellent thread--excellent info!

So here's my question:

Once you've written those 2 initial letters for a bargain price of $1,000,
how do you "get the flood" coming in?

What bridges your first letter to all those other clients?

Thanks,
CW