How to Set the Best Prices as a Gig-worker and Freelancer

Starting a career in freelancing always looks effortless and exciting because of the flexibility it brings. However, it can be challenging to be in the system and not get gigs as much as you anticipate. This is a typical issue in freelancing as the number of people involved is growing daily. 

At Bookings Africa, more than 15,000 service providers are waiting to meet the clients' needs but are yet to be booked. The question is, what are they doing wrong? Why are some people on the platform getting gigs while others are not? What are the top service providers doing that gives them the upper hand in the gig market? How do you set a client-friendly price to be booked?   

Let's start with What YOU need to get BOOKED ⬇

1. Know your worth 

In freelancing, knowing your worth is vital to getting the best prices set and being known. This is the first step because you are likely to set just any price if you are unsure of what you have and can offer. Understanding the value you bring to your skill will help you position yourself and your prices right.

For instance, a makeup artist with less than 3-years of experience cannot charge the same as a 10-year experienced artist. Possessing the necessary skills and equipment is essential to back up your designated price. You also cannot spend so much on makeup tools and undercharge yourself. There has to be a balance. Some service providers are getting more gigs than others because they understand how valuable their services are and the best prices to include. So, before you conclude you cannot get booked or set a great price, check to see if there is so much value to the price you are putting out. 

2. Invest in adding value to yourself 

Whether you are new to that particular niche of freelancing or not, it is never too much to keep growing in the services you offer. If you don't know where to start building from, ask professionals in that field for guidance. Many of the top freelancers you see making waves didn't just get there with little knowledge or skills; instead, they pushed themselves to give more. 

If you take a sample study of the freelancers in your field and look through their work, you will see the different investments they have made in their work. They have attended relevant training and gotten certified to scale their hustle. The amount of value you have to offer will determine your set prices. If, as a photographer, you have never shot weddings and don't have samples of related work, it would be hard for clients to trust your services over a more experienced professional. Therefore such investments are non-negotiable. Also, by adding value, you will be meeting the checklist clients use to hire freelancers.

3. Organise your Portfolio

One of the many ways you can show your clients you are up to the task is by building a great portfolio. It is not enough to know that you can do the job; you also need to show the clients that you are skilled. This involves you creating a great portfolio. At Bookings Africa, a well-polished profile is one of the distinguishing factors most service providers consistently get gigs to have. 

In an online market like ours, your profile is your CV, and that means your aim is to pitch yourself through the bio and content on your profile. If you are a chef, the significant thing clients expect to see is the food you have cooked, how well you present it, and the quality images of your dish. If you are into modeling, the major push-out should be your past works in that field, creative photos, pageantry, advertising gigs, television appearances, and even Youtube. Ultimately, you need to build your portfolio with evidence of your past jobs and a well-written bio to stand out. 

Tips on setting the best prices

When you have discovered the ways to push out your profile, the next big question is how to determine the price to charge. 

 

1. Understand the cost of running your business

Whether you have a regular 9-5 job, it is vital to calculate the cost of running your freelance business. Your checklist should include but not be limited to; the cost of equipment, taxes, utility bills, and transport fare time investment. The list is extensive depending on the services you offer. For instance, actors will prioritize transport fares over utility bills because more of the work role will be done outside the house. In the case of a fitness instructor or tutor, they might need to be at home to deliver virtual services, which require sufficient utilities and fuel bills sorted in case the power goes out. This is quite familiar in countries where the power goes off unexpectedly. When you have understood the cost of the business, you can then set the prices that would cover the cost and leave you with substantial cash in hand. 

2. Check your competitors 

Having invested in the values you can offer, it is time to compare with other top freelancers. You can set a comparable price if you set up a good profile and list out your experiences, similar to those getting great gigs in your niche. Note, however, that charging high with little experience is not a good move. You can start with a more client-friendly fee that covers the cost of operation. When you have built a stronger portfolio, you can augment your prices to match your acquired skills. 

In freelancing, you can build a strong presence such that potential clients can continuously book you for gigs. Happy Freelancing!