How Much to Charge as a Freelance Copywriter? Setting Rates and Charging What You’re Worth. | Summary and Q&A

TL;DR

Learn how to confidently set your freelance copywriting rates using the industry standard guide published by the American Writers and Artists Institution (AWAI).

Key Insights

• 👀 Key Insight: Freelance copywriters should not rely on online forums to determine their rates. It is important to have pre-established rates in order to confidently discuss pricing with clients. The American Writers and Artists Institution (AWAI) publishes an industry standard rates guide annually, which can be used to set rates based on services and expertise.
• 💡 Key Insight: The AWAI's State of the Industry Report is a valuable resource for freelance copywriters. It provides guidelines for industry standard rates for various copywriting services. It is important not to charge below industry standards as it can lower perceived value and create suspicion among clients.
• 💰 Key Insight: Lowballing clients may not be worth the time and effort, as they may not value your work or treat you well. By pricing yourself too low, it sends a signal that you do not value your own work, which can have a negative impact on client relationships.
• 📖 Key Insight: The AWAI's State of the Industry Report can be found by searching "State of the Industry Report copywriting rates 2021" in Google. Page 33 of the report contains a grid that outlines industry standard rates for various copywriting services. These rates can serve as a starting point for freelance copywriters to determine their own rates.
• 🌐 Key Insight: Freelance copywriters should avoid platforms like Fiverr and Upwork and focus on pitching clients directly. LinkedIn can be a valuable tool for reaching out to potential clients and bypassing middleman platforms. Directly approaching the source can lead to higher quality clients.
• 🏷️ Key Insight: Freelance copywriters should set their rates based on their niche, the clients they target, and their level of experience. Starting with a reasonable rate and gradually increasing it based on client responses can help determine the ideal pricing strategy.
• 💬 Key Insight: It is important to rely on personal judgment and not ask others for their pricing advice. Each copywriter has their own experience, industry, and clients to consider when setting rates. Following the industry standards outlined by the AWAI can help establish confidence in pricing.
• 📝 Key Insight: Downloading the AWAI's State of the Industry Report and having it as a reference can avoid the scramble of determining rates for each assignment. Having a prepared guide can ensure copywriters are cool, calm, and collected when discussing pricing with clients.

Transcript

are you confused about how to set your copyrighting prices i see hundreds of writers posting online asking other people hey the client just signed me this what do i charge we should not be asking other people online what we should charge because they don't know you they don't know the client they don't know your industry so by the end of this video... Read More

Questions & Answers

Q: What is the AWAI State of the Industry Report and how can it help freelancers set their copywriting rates?

The AWAI State of the Industry Report is a guide published annually by AWAI that offers industry standards and recommended rates for various copywriting services. Freelancers can use this guide to determine their pricing and have confidence in the rates they charge, knowing they align with industry standards.

Q: Why is it important not to underprice yourself as a freelance copywriter?

Underpricing yourself can negatively impact your perceived value and attract low-ball clients. Clients who are willing to pay less may not value your work or treat you well, resulting in a less fulfilling and potentially frustrating working relationship. Setting your rates at industry standards ensures you're being compensated appropriately for your skills and expertise.

Q: How can freelancers use client conversations to gauge if their rates are too low?

During client conversations, freelancers can mention their rates and observe the client's response. If the client doesn't push back on the rates and accepts them without hesitation, it may indicate that the freelancer is undercharging. This can be an opportunity to raise rates in subsequent conversations and ensure fair compensation.

Q: Why might freelancers be hesitant to charge higher rates?

Freelancers may lack confidence in charging higher rates due to a fear of losing potential clients or being seen as expensive. However, it's important to remember that pricing oneself appropriately demonstrates professionalism and attracts clients who value quality work. Charging higher rates also helps maintain an industry standard and prevent the devaluation of copywriting services.

Q: How can freelancers use the AWAI State of the Industry Report to negotiate rates with clients?

The AWAI guide allows freelancers to have a clear understanding of industry standards for different copywriting services. When negotiating rates with clients, freelancers can refer to the guide and justify their pricing based on industry standards. This provides credibility and helps establish fair compensation for their work.

Q: Is it advisable to start freelance copywriting on platforms like Fiverr or Upwork?

The speaker advises against starting a freelance copywriting career on platforms like Fiverr or Upwork. Instead, she suggests pitching clients directly via LinkedIn to work with high-quality clients from the start. These middleman platforms can be oversaturated and may not attract clients who are willing to pay industry-standard rates.

Q: How can freelancers develop confidence in setting their copywriting rates?

Developing confidence in setting copywriting rates comes with experience and a strong understanding of industry standards. Freelancers can educate themselves about industry rates, observe client responses, and gradually increase rates based on their skills, expertise, and the value they provide to clients. Confidence also comes from positioning yourself as an in-demand professional and not being desperate for any client.

Summary & Key Takeaways

• Freelance copywriter Christine shares a hack to set freelance copywriting rates using the industry standard guide published by AWAI.

• The AWAI State of the Industry Report provides a scale of rates for different copywriting services, helping freelancers determine their pricing.

• It's important not to underprice yourself below industry standards, as it can affect your perceived value and attract low-ball clients.