The Word Wrangler

I recently had an e-mail exchange with a very talented graphic designer where we talked about certain business practices that we both employ.

Specifically, we have our standard rates, but are also open to the possibility of adjusting those rates to accommodate clients who have tight budgets, but still want quality writing. My designer friend wondered if we were selling ourselves short by offering to go lower on certain projects when a client can’t afford our regular fees.

Here are my thoughts on the practice.

First, I don’t think you should advertise the fact that you’re willing to go lower than your normal rate. If you do that then everyone will develop some ‘budgetary constraint’ and demand that you go lower on a project.

Second, while I think that it’s a good idea to keep that option open, you should use it sparingly. Be selective with clients you’re willing to offer it to and listen to your gut when it comes time to put it into practice. If a client turns you down because your fees are too high, don’t immediately pitch them a lower price to get the job. It looks like you’re desperate for work, which is a bad reflection on you.

Instead, get a good feel for where your client is coming from and what the benefit is to you to lower your rates. Maybe they’re a non-profit, which are oftentimes strapped for cash. The work might be a good portfolio piece for you and could result in some good word of mouth if you take it even for a reduced fee. Or maybe they’re a small business with and equally small marketing budget who will provide you with a steady stream of work.

The point is that everyone likes getting a deal now and again. But if you give the deal too often, then it loses its value.

What do you think? Are you willing to bend here and there or are you unwavering on your prices?