Don't Accept Anything Less
I recently received an email message from Charlon Bobo, a Seed Member of the Indie Beauty Network and a longtime friend and business colleague. Charlon owns edit copy proof, a copy writing service. She's very insightful and quite good at what she does. She also has several years of past experience in the beauty business as a soap maker and packaging supplier. Charlon's copy writing services include preparing copy for brochures, websites and other marketing materials.
Last month, Charlon quoted $350 to create copy for a soap maker's brochure and her Indie Beauty Network Member Directory description. To perform this service, Charlon agreed to review the soap maker's website, products and any other materials to familiarize herself with the company's mission, products and overall business focus.
Charlon's proposal included two rounds of client revisions, and the delivery time was approximately 60 days from the start.
In response to Charlon's proposal, the soap maker acknowledged that she did not have the skill required to create professional copy for her brochure. But she figured that, since Charlon knew the soap making industry, she should be able to create a pamphlet for her business "in a minute." Therefore, the $350 quote was too high.
What Charlon Did Next
Charlon thanked the soap maker for her comments, and for a chance to respond to them. She explained that writing about soap was only a small part of creating the brochure. It also involved investing a considerable amount of time researching the soap maker's company to make sure that the copy created would resonate with the target audience.
This requires reviewing the background and history of the company, understanding the type of customer served, getting to know the soap maker's philosophy of ingredients and getting into the "mind" of the business so that the content created fit perfectly with the products being sold.
After all, writing about soap is one thing. But writing about the soap produced by your particular company is quite another.
Charlon explained all of this to the soap maker in a carefully crafted email message, which reiterated her price quote at the end.
A few days later, the soap maker sent Charlon a check.
I commend Charlon for doing what so many small business owners are terrified of doing, especially in the current economic climate: pricing their products and services based on their true value. Too many people are willing to accept less money than what their products or services are worth simply because they are afraid that people won't pay.
You Must Charge What Your Products and Services Are Worth
There are times to give things away. For example, if you are offering a new service and have not yet priced it and are looking for feedback, you might give it away or offer it at a significantly reduced "introductory" price. Additionally, it's a wonderful gesture to donate products and/or services to underprivileged or disadvantaged people or charitable causes.
But the general rule of thumb is to charge what you and your products are worth. After all, if you don't, you won't be in business very long.
What Do You Think?
Do you have a great story to tell about sticking to your guns about the price of your product or service, and landing the business in the end? Please share it below, along with a link to your site so we can learn more!