One of the most challenging aspects of any job interview has always been the moment when the interviewer looks across the desk and blandly asks what your salary expectations are. Presented in such a deliberately open-ended format, there’s rarely a perfect answer. Set your self-determined value too low, and you’re potentially agreeing to be underpaid for the foreseeable future. Set it too high, and you could come across as arrogant, or simply price yourself out of contention.
Many freelance copywriting jobs are advertised with set fees, based on what the employer is able (or feels willing) to pay. Yet some companies don’t really know what it costs to hire a freelance copywriter, or how much they should pay for professional freelance writing services. On the other side of the coin, it’s hard for an inexperienced freelancer to price freelance copywriting jobs accurately, especially when every vacancy (and project) requires differing skillsets. Some assignments are research-intensive, while others are more creative and freeform. Some require interviews and Zoom/Teams calls, while a few necessitate field-based research.
Having been a freelancer for over 20 years, I’ve become astute at valuing my own expertise and accurately gauging the potential complexity of assignments. These are my recommendations for any up-and-coming freelance marketing writers or freelance copywriters wanting to set competitive rates while ensuring they’re reasonably remunerated for potentially technical and time-consuming work.
Weigh up your existing knowledge
If a client asked me to write an article about a specific town or city, I could produce pages of copy almost instinctively, drawing on two decades as a property journalist. Yet if a client asked me to write about yachts, my limited knowledge of this specialist field would necessitate market research and competitor analysis. Topics you’re passionate about or familiar with are easier to write about authoritatively – reducing the time needed to complete assignments and enabling lower fees.
Add a ‘pest premium’
Some clients are engaging and accommodating, but others…aren’t. Although I’ve cultivated a roster of helpful and proactive clients, every freelance writer will encounter chaotic or unreasonable customers. You can usually tell from a first encounter whether they’re likely to want multiple rewrites or leave you chasing unpaid invoices. When it’s time to price freelance copywriting, a ten per cent premium on normal rates is a reasonable insurance policy, with a written contract formalising who’ll do what, and when.
Check what’s included
Building on the last point, submission processes vary enormously. Some clients are happy to receive a Word document, while others expect you to upload content through a CMS like WordPress. The latter is further complicated if you have to provide keywords, captions and copyright-free images. Are rewrites likely to be needed, and will they be demanded at no extra cost? Multiple people reviewing your work can hugely increase total editing time, so establish a chain of command at the outset.
Ask how they’d rather pay
Some clients price freelance copywriting projects with a lump sum on completion. The majority are advertised with a flat per-word fee, while a few involve an hourly rate. At an interview, it’s often advisable to let the client express a preference. If they want a per-word rate, you’ll need to factor in research and travel time; if there’s a fixed project fee, will the quoted sum justify the hours required to complete it? Also confirm whether they’ll be paying by BACS, Wise, etc – and when payments will be made.
Price freelance copywriting on a scale
Returning to our opening paragraph, if you’re pinned down mid-interview by a question about rates, provide your prospective new client/employer with a scale. Be honest and say you don’t know enough about the role to quote an exact fee, but you’d normally charge somewhere between X and Y for work of this nature, leaving a healthy gap between the two. That gives them room to negotiate, while providing you with scope to vary your fees once you know exactly what’s involved…
Finally, if you’re a small business owner reading this and wondering how to price freelance copywriting contracts, make life easier for yourself and contact G75 Media. We’ll sit down with you and discuss what’s needed before agreeing on a mutually satisfactory rate. Life’s easier when it’s kept simple.