How can I make sure that I’m a good catch? Am I overcharging? Am I undercharging? What criteria should I be looking at when setting my rate for content creation? Are there tiers to consider, or should it be a flat fee?
Questions around how much to charge are always at the forefront of our creators' minds: Rates can make the difference between winning a campaign and not. But, it's only natural you wouldn't want to sell yourself short.
Having said this, it's crucial to remember that your work is your business, and so your approach to pricing should reflect all aspects of the industry.
The campaign teams at Whalar consider factors such as image quality, overall aesthetic and authenticity, and engagement rates (our benchmark rate being 3.5%) when they approach you with a proposed fee for a campaign.
Another thing to consider when approaching your rate is the medium of content you’re producing. On the Whalar platform, the main fee shown is for a still image and post to feed. Since stories are only visible to your following for 24 hours, the standard rate is 50% lower than a feed post. Videos should be more than a still image, as should cinemagraphs and stop-motion content. The more time, skill, and craft that goes into a piece of work, the more you should consider raising the price.
To put this into play...
Engagement Rate: 3.5%
Still image: $300
Cinemagraph/Stop Motion: $450
In any profession, it’s vital to remember economies of scale. If a client is asking for a bundle of content then negotiating and taking discounts into consideration can strengthen your pitch. Offering deals, like three images for the price of two and a half (i.e. instead of $900, offering $750/$800) can be of benefit to both, as brands will be inclined to feel that they have got a good deal, thus strengthening your long relationship.
As you develop as a creator, sharpen your skills, and increase your following and engagement, be sure to continually reevaluate your pricing. We never disclose suggested fees or previous rates to our clients because we don’t want them to expect the same rate in the future. Make sure to take advantage of this flexibility and update accordingly.
Ultimately, when you grow and improve, so should your paycheck.
Banner content from @anniset