How Successful Freelance Copywriters Set Their Fees

Setting your fees correctly is one of the hardest things you'll encounter as a freelance writer. The fees you quote to potential clients can either make you or break you as a writer.

Set your fees too high and you may very well lose some projects. Set them too low and you won't make enough money for your time. Worse yet, if your fees are too low, potential clients – especially business professionals - won't take your writing talents very seriously. Your fees indicate your writing's value to potential clients. Setting your fees too high is actually perceived much better by clients than setting them too low. Higher fees tell potential clients that you value your work, and that your work is worth more money than some of the other copywriters they could hire. Consider also that many people want to pay as little as they can for internet content. They want the best, but they just don't realize how much time it takes to produce informative, persuasive, compelling writing. Unless you're just starting out, you probably don't want those peoples' business – let someone else make 50 cents per hour.

A number of factors should enter into any fee estimates that you give.

First, make a note of everything you know about the client, the type and subject of the writing and its intended target market. Include things like what the client wants from the content (it's purpose) and any key words or phrases to be included. Try to find out what the client's budget is, and add it to your notes if you know it. Also write down whether this is a repeat client or someone new. If this is someone you might want to favor with a discount, add that to your notes. If the topic is something you're already familiar with, it may take less time to write about, so add that too. If you're completely unfamiliar with the subject and you'd have to do extensive background research before beginning your writing, that's also a critical piece of information to add to your notes.

Second, think about your level of experience and expertise. Experienced freelance writers are able to command much higher prices than writers who are just starting out.

Take all these factors into account when you're estimating your freelance writing fees. Never be afraid to ask for what you're worth, but keep the going rates for what you're writing in mind. Ask a reasonable price for your talents, but don't price yourself right out of the market.

Remember, there are millions of potential clients throughout the world. Charge what you know what you're worth, but keep in mind that setting your copywriting fees takes some experience. You may make some mistakes early on, but you'll soon get the hang of it. Understand your talent, your market, your competition and your clients.