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Forum - Pricing Strategy
Pricing Strategy
Fri, 30/07/2010 - 11:43 — JoCooper
Hi,
I have a potential first client for my new business which is based around collaborative marketing but really struggling to put a price together for the project. With no knowing how much time I am going to spend on it, I don't know where to start.
The project is to develop a brand - to come up with an identity, values and visuals. The visual element is easy enough to do but is the brainstorming and identity that I am not sure how to approach. I realise that I will probably spend more time on it than the budget due to it being my first 'own' client.
Any advice on the best way to develop a pricing strategy for branding projects would be gratefully received. I know that a certain amount is guesswork, but should I suggest a number of days and stick to it, or perhaps ask for a retainer payment per month as it develops.
Many thanks in advance
Jo
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Retainers can be a tough way to do business, you often find that one party feels hard done by... Trying getting the client to agree to a set of detailed deliverables, with an upfront deposit followed by installments as you pass project milestones.
www.ngicreative.com
Fixed price projects are very dangerous when you're unsure how much time you're going to invest. Therefore I'd recommend a retainer and try to give the customer some idea of the min/max length of time you expect to take and what deliverables you feel you will provide in those timescales.
You can then set aside x number of days a week. Obviously you'll have to answers calls and e-mails on off days but that's par for the course.
Hope that helps.
Hi Jo,
I'm sure I can help you with that.
Please call 01242-672440 and let's see what we can do!
Cheers,
Adrian
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