Top 9 Factors to Consider When Setting Writing Rates Professionally - Custom Scholars

Top 9 Factors to Consider When Setting Writing Rates Professionally

Top 9 Factors to Consider When Setting Writing Rates Professionally

1. Your years of experience as a writer

If you are new to the industry, your rates may differ from those of someone with over 5 years of expertise. This is due to the fact that experience equates to higher quality, knowledge, and professionalism.

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  1. Your level of expertise in a niche you’d like to write about 

If you’ve produced a lot of articles in the travel niche, for example, you have more knowledge in this subject and can write top-notch content here than someone who has never written anything on travel.

Before charging a rate, you should bring this to your client’s notice by giving them your examples.

  1. The niche you’re writing for 

I’ve been in the industry for four years and have discovered that some areas pay more than others. Because of their technical nature, articles in the Science, Medicine, Finance, and Technology areas are likely to cost more to write.

  1. Type of article 

The charges may differ based on whether you’re writing a blog post, a guest post, a press release, site content, a magazine article, a product description, or something else.

Press releases and site material, in my experience, tend to cost a little more because they are more detailed and need more time and ingenuity to create.

Blog entries, on the other hand, do not need much effort because most material can be found online. However, this does not imply that they are inexpensive to write.

  1. Word count

Obviously, a 1000 words article should cost more than a 150 words article. 

  1. How you provide value

Majority of clients are willing to pay based on the value you provide. And by value, I mean your capacity to go above and beyond what you promised.

For example, if the customer requests that you provide the article within 48 hours, surprise them by delivering it within 24 hours.

Value also refers to article quality, which includes well-researched material, articles that are free of plagiarism, and content that is free of grammatical and spelling problems and is formatted correctly.

  1. Competition 

Set prices with caution. You should also be aware of what other professional writers charge. Visit several writing sites to see what they charge so you don’t charge outrageously cheap prices as I see on Upwork, Freelancer, and other bidding sites where freelancers have damaged the business by charging incredibly low rates.

If you’re a beginner, you can work on these bidding sites, but as you develop skill, I recommend that you avoid them. Remember that clients are aware of market pricing. As a result, you must be informed of what your competitors charge in order to offer acceptable prices.

  1. Your expenses and other sources of income 

If you work as a full-time writer, you must take your writing rates seriously because they are your primary source of revenue.

When billing your service, you must know how much you spend for rent, energy, internet service, phone calls, and other expenses. Whether you have one or multiple clients, you should charge rates that allow you to cover your costs while still saving enough to invest in an offline enterprise (it will help you survive should things get thick at some point).

Consider outsourcing your work to other writers so that you may benefit as well!

  1. The length of the contract

Some contracts are one-time, while others are long term (over 6 months). In most circumstances, consumers will inform you right away.

To boost your chances of landing a high-paying, long-term contract with a customer, strive to deliver high-quality work on your first job. First impressions are critical.

When the customer verifies that the contract is long-term, you may discuss the pricing with them, since most of them will want it to be somewhat subsidized now that they’re providing you with bulk work. This makes perfect sense.

 

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