Your Pricing is a Marketing Tool [QTMM 7-21-20]

Have you noticed my 2 main topics on this blog are pricing & marketing (which includes content marketing)? 

Wanna know why? They're inextricably connected. 

Perhaps you feel this connection without being fully aware of it.

Simply put: Your pricing is a marketing tool. 

Here's the thing: prospects who don't know you (yet) or the high quality of your work, have very little to judge you on before you actually work together.

All they have is:

* your web site & LinkedIn profile (& other aspects of your online presence)
* your marketing efforts (but only if you're following a marketing plan)
* your initial real-time conversation with them (are you asking for one?)
* your proposal and...
* your pricing

That's why, while you may want to get the proposal process over with as quickly as possible, I think it's smart to extend it as long as possible -- so you can establish your value before they make a decision based only on price. 

When you price low to "get the project," you are also sending a message about the quality of your work.

You see, "good" clients understand that they get what they pay for. That's why they are often turned off by a low price.

Likewise, when a client wants to pay you online and you tack your 2-3% credit card fees on to your invoice, you're sending a message.

From a marketing point of view, I think it says you're an amateur or cheap or desperate (or all of the above).

Plus, it's tacky.

These days, credit card fees are a "cost of doing business" -- just like all the software subscriptions you need to do your work.

If you don't want to pay those fees, or if your bill is so high that 2-3% is a significant amount, then discuss it with your client to find a better solution, like a check or direct transfer to the bank. (You can often get your bank to waive the fees if you have a good relationship with them).

(I seem to have triggered a raging debate on this topic over on LinkedIn -- see what they're saying add your two cents here.)

The simplest solution, of course, is to make sure you're charging enough to cover all of your expenses and more!

Like this and want more of my content? Here is the latest:

* Watch this video about the marketing paradox.

* Read this case study about how one designer turned old-school direct mail into an effective marketing machine

* Listen to the new podcast where Melanie the Marketer and I talked about how (and when and what) to delegate as a creative pro.

* And don't miss Melanie's blog post, "Why Money's on My Mind All the Time."

And f you've been meaning to take advantage of my free 30-minute mentoring session, now may be the time. Sign up here