We've all had lowball clients who expect the world, but can't manage to pay us the minimum amount we charge. In this video, learn how to not make that happen to you again.
Imagine this scenario: An up and coming business reaches out to you and tells you how much they love your work and that they would do anything to work with you. They tell you about their exorbitant vision and how they have a miniscule budget to work with, but they will pay you extra in exposure.
Does the above scenario sound familiar? Thankfully, the folks at Indy Mogul teamed up with the founder and CEO of The Futur, Chris Do, to bring you a helpful and relatable video to help you not fall into the trap of charging too little for your next client project. Throughout the video, they cover sales tactics like the anchor bias, which is the first piece of information we or the client hears, and it's where a lot of decisions are usually based off. To see how a negotiation works, Chris and producer Moses Israel work through a potential real-world scenario and break down the process of how you can get the price you want.
One of the key things I took away from this video was that if you ever find yourself ready to hang up on the client because their budget is not adding up, one way to counteract this is to reward your client's loyalty. If they are a returning client or promise to (make sure to have it in writing) bring you on for subsequent projects, then you can reward your client's loyalty by reducing the rate and giving them a discount. By doing this, you not only gain the job, but earn their trust for future ones.
What are the best ways you do that ensure that you are not getting underpaid on your next project? Leave them in the comments below.