You’d be wrong to think that prices are based on a simple equation.
You’d also be wrong if you think podcasters want the packages you’re selling right now.
The joy of a new, dynamic industry like ours is also it’s curse: We are constantly having to adapt creative minds and their new ideas.
So what strategies do you use to determine what to provide clients and what that service is worth?
Mailbag: Do you have a system for creating packages and prices? We’d love to hear from you! (because Carrie really wants to do a mailbag/AMA episode)
We learned a few things throughout this episode, but one of them was how much strategies vary from editor to editor. That editors are constantly re-evaluating and refining offerings and rates. And that packages rarely seem to suit podcasters (which is something to explore on its own in a future episode). When you quoted your first client, did you pull a number out of the air?
If you did it’s normal.
We aren’t MBAs. We’re editors– part artists, part techies– who had this wild idea to invent a job that is challenging, flexible and rewarding. That’s why we started this show: to work through these sorts of things with our community… to mastermind with you. We asked our live audience what models they used and shared our own.
Here were the answers...
- Hourly
- Per Episode
- Day Rates
- Project-based
- Value-based
We also covered the pros and cons of various billing cycles.
Surprisingly, some of are moving away from monthly billing.
Scope Creep and a la carte packages
It was pretty well agreed that no one package is right for the majority of podcasters. There’s always something that’s not quite right. Or a podcaster wants more than agreed to without, ahem, wanting to pay for it. A la carte and a clear contract may be your best bet for staving off scope creep.If you're like us, you have things to say about what we talked about in this episode. If you're a member of our community, you most certainly can do that. You might even see a live editing session or product demo!
Links:
Your Masterminders:
Our editor is Alejandro Ramirez. He’s open to work editing in English and Spanish.
This podcast uses the following third-party services for analysis:
OP3 - https://op3.dev/privacy
