Last week I started to think about restructuring my price structure. Why? Because I would love to reduce the amount of unsuccessful enquiries and increase my conversion rate! Who wouldn’t right? It was then that I’ve stumbled on this infographic with great tips on how to land more clients with persuasive fees, be sure to check the original version here, is totally worth it.
Back to my initial thinking…
Since I start selling brand identity design services online I adopted a very flexible price structure. The price strategy I chose allows me to work around the constrains of my clients’ budgets independently of size. But every now and then, this price strategy created some confusion in the mind of prospective clients. Not a surprise of course, specially considering the bizarre variety of prices in the identity design industry. Yes, I’m talking about the mission impossible $5 logo and the despicable slave-sourcing business model that is spreading over the design industry like a plague.
With my current price strategy, sometimes I find myself in a situation where a prospective client have very little idea of what would be a suitable budget for their business. On this occasions I tend to refer them to an article I wrote about investing in branding, but in order to provide a more friendly service, I always end up exchanging many emails helping them to understand what’s the best for their business.
The truth is that I would rather not have all of this email exchanges. Why? Besides the fact that my advice is hardly seen as unbiased, I just don’t have the time for that. While I’m an identity designer and branding is my specialty, I tend to spend the greater part of my time working on a variety of websites for Vellest; my web publishing company.
Back to the main topic…
What I’m going to do about my price strategy? I’m strongly considering taking the advice of Bidsketch and define a bundle-like price with up-sell options, so my clients would have to choose a package instead of defining a budget. Would that be KISS applied to pricing? I can’t avoid thinking it can be a risk strategy, as I do not wish to define myself as the sort of commodity type of service provider, but I cannot avoid wondering about the benefits that a simpler price structure would bring, perhaps lessening my email exchanges.
What do you think? I would love to hear your comments on that.