Marketing Minute is a free newsletter written by Marcia Yudkin, a publicity and marketing consultant. I used to read her articles about freelancing and always found them useful, so I subscribed to this newsletter.
The cool thing is that you can read the newsletter real quick and you will learn something useful. And though it’s called Marketing Minute, you get a lot more than just marketing advice. Here’s a sample:
Test prices, don’t assume!
Do you set your prices according to what you believe your market can afford? If you’re a professional, do you offer a sliding scale for payment? When anyone requests a price break, do you automatically agree? All of the above practices carry a danger that can needlessly keep your revenues down.
When you’re tempted to set low prices, remember these points:
1. What someone can afford and what they will pay aren’t necessarily related in any logical or predictable way. I’ve had clients hire me who had next to no income or savings, while someone with a Fortune 100-sized budget decides the same offering costs too much.
2. Someone may ask for or expect a bargain, but end up paying the original fee.