How much should I charge and how would I possibly do that?

hitmeasap Level X⁵

October 14, 2016, 2:41 pm

13

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How much should I charge and how would I possibly do that?

Fellow Freelancers,
I won't reveal the actual product or service, as it wouldn't bring anything of value to this question. The thing is, that I have something in mind, that I would like to provide..

But I have several competitors who's providing more or less the exact same thing. And most of them provide it for about 3-5 times less than I would provide it for. Why some people can and will provide specific things for less than others often depends on the country and the living expenses and such. However, that's not the case in this scenario.

In this scenario, I feel like I would never in my life provide it for the same costs as others are doing, as it involves too much time and work.

In other scenarios I would do this with a small twist. I would not only sell the service or product, I would sell myself too. I would include my customer support, my knowledge and my tutoring, but I can't really do that in this case. - So what can I do?

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CryptoGuru

CryptoGuru

This is a very good topic for sellers both veterans and ones starting out. If you can do something and you have competition the best thing to do is check them out. What are they doing and how can you do it better? Make sure you do your best to be fast when responding big on detail. Responsive sellers often sell more than ones who take forever to respond to orders. Whatever it is also make sure that you add something that nobody else has some kind of deal breaker. My recommendation is to list it anyway even if you are more expensive. You will be suprise that you may still get some orders at the higher price. Why do sellers get orders even if the competition is way cheaper? Well because some buyers think that if a service is more expensive it will often be better. Some people are also willing to pay a little more for a guarantee. List it! Whats the worst thing that could happen? and if you get over loaded you can higher the competition at a fraction of the price. I hope this helps you decide! Thanks for sharing.

8 years ago

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hitmeasap

hitmeasap

I actually thought of outsourcing this. Basically just buy it from my competitors and add something myself to it, and profit. - After all, that's more or less how I started out online. - That's what I did in the early days and that was the very first stepping stone in my career and I've been working online full time for about 5 years now.

That being said, I've had enough of outsourcing. Well, I would prefer not to outsource at least. - Especially when I know that I can provide the things I can, and do it properly and I can't vouch for my competitors quality. I don't want to risk my reputation and credibility by outsourcing something I can't vouch for. - Thanks for your input though, you made some great points!

8 years ago

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Everett

Everett

Yes, we as freelancers especially those of us who live in countries where things cost more have to look at alternative methods to get buyers to buy from us, than to settle for someone who has a way cheaper service. What I have notice is, is that those cheaper services may cost less but the quality of the work involved is not up to par. I rather pay someone more money for higher quality than to pay someone who will deliver low quality work.

I always try to offer the best and most responsive support possible with the services I sell. If I can not offer quality support I will suspend my services until I can offer quality support. Support is a main benefactor in which I look for if I were to purchase a service. If I see that a seller doesn't reply to buyers than I may not buy that service. So basically if you have a cheaper service, surely you will get sales, but can you offer the quality support that the buyer needs? I would hope so! Let the competition begin!

8 years ago

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hitmeasap

hitmeasap

I totally agree with you and customer care is the most important part of my business. - My entire business is based on customer support. It's the foundation of my business and I wouldn't provide a service or product without superb support. Heck, I was even offering support when I sold social media services.. Like anyone would need support? -But I did offer my clients support in case they needed it!

8 years ago

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chetaseo

chetaseo

wowww,..i have been in thier situation before,.honestly speaking it is very difficult for someone to figure out what to do to get buyers to his service. what i normally do is to visit those competitive sellers and see what they are offering and everything about it and see how i can alter my own to make it look enticing to attract buyers to me. Then i will try to offer my gig with some special benefits or bonuses that other competitive sellers are not offering fo example if you notice others are delivering within 2 days, you can make your own just 1 day.
it is not going to be very easy but you just have to be very creative and smart on it. while adding these special features like bonuses, you can maintain your price at an optimal level- not high, not low.,....surely you will get buyers but its not going to be that easy, you need to have lots of patience.

8 years ago

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hitmeasap

hitmeasap

Thank you chetaseo for your input, I appreciate it. - I do know that I will be able to make sales. I will get orders, I'm 101% certain of it. However, and please do understand me correct here, I don't want 5 orders per week when I know that I could get 10 orders by doing things differently. And that's just the thing. I don't really know what I could do different, as my "usual extra things" like support etc. doesn't really work in this scenario. - Perhaps I should try to combine this with another, perhaps even similar service too? - That way it wouldn't be weird to ask for a higher price than my competitors. - What do you think?

Do you think it's even possible to sell 2 services as 1? - It obviously depends on the services too, I know I know.

- But in general. Do you think buyers would appreciate a "2 in 1-combo" service?

8 years ago

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Lynne

Lynne

I would list your service for the amount you need to sell it in order to make it worth your while. Otherwise there is no point in you doing it is there?

The point here is that plenty of people sell things really cheaply and I will be honest that does not appeal to me at all. I am not after "cheap" when it comes to my business. I am after value for money which is an entirely different concept.

I will pay much more from a quality seller and there are other sellers that may appear to provide the exact same service that I would not consider at all.

8 years ago

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hitmeasap

hitmeasap

Thank you for your input Lynne, I appreciate it. I do understand that some people tend to do this. They prefer to go with the "quality" instead of "quantity" and I've managed to work for about 5 years online due to that actually. - I wouldn't say that I provide super expensive services or products but I don't usually provide it for cents either. That being said, I use my reputation and credibility when I sell things. I sell myself and my clients appreciates that. - So most of them doesn't care too much if they have to pay a few extra dollars, as long as I am the one they're doing business with. I'm blessed with that kind of luxury, in some terms at least.

However, I'd rather lower my price to rake in sales on this, but at the same time, I can't really afford to do that. It wouldn't cost me any money by providing it, but it would cost me time and that's potentially an income in case I would do other things with that time instead. - So how would I overcome this obstacle? Is there a way to overcome something like this?

As a buyer, would you be interested in a "2 in 1 combo" service? - It's kind of hard to explain, but what if the seller you're buying from on a regular basis offered you that same service that you want, but also adds another, kind of similar service, and increase the price? - Would you go for it?

8 years ago

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Lynne

Lynne

Yes do a sales combo so add two products as a promotion, or you could have an opening sale to jump start things. Also you can offer specific people different discounts now (check out the post pinned to the top of the page) so maybe your loyal customers you can send a special personalized discount coupon?

Yes I would go for that type of combo service definitely. I trust you and I know your product won't be rubbish so yes. If it was someone else the answer would more than likely be a big fat no LOL.

8 years ago

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