Content creators, it’s time you recognize that your time and name are worth a lot! There are so many ways that you can monetize yourself, but don’t be afraid to charge what you know your services and products deserve!
As content creators, it is natural for you to start your own businesses and side projects as more people recognize your talents. Especially for people that have recently started to gain traction and influence, you may decide to try a hand at creating your own merchandise or starting to take on sponsorships. This is an exciting time where you can finally start monetizing your content and make a living doing what you love.
While you’re planning and thinking about your launch, I’m sure that many of you are thinking: what should I price my products/services at? Am I charging too much? Am I charging too little? How much is too much? Should I just accept the deal?
These are questions that are all perfectly valid to have! There are so many things to consider when it comes to price. For example, you have to think about your target audience: will they have the income to pay for what you’re charging? Are you charging per hour/for each product? How are you calculating those rates? Based on the number of hours you worked or how highly valued your knowledge and expertise/experience are?
All of these questions can feel overwhelming, and there really isn’t any one real answer. It depends on how you want your business to run: you could charge a hundred people $50 to $75 for access to a webinar or charge fifty people $100 to $150 for individualized help. Some content creators may want to make their products affordable and accessible to their audience, which is also great! The important thing is that you get to make that choice.
However, it is also vital to remember that for some–especially if the product or service requires a certain amount of expertise–your price denotes quality. Although not everyone will be willing to pay a higher price, people are also skeptical about buying information/high quality products for a low price. If you’re selling a class and you know you have the necessary expertise, that’s what people are paying for; if it’s a meet-and-greet, people are paying for your time. Your time is precious, and your prices should reflect that!
If you’re unsure about the exact pricing of your products, use other creators in the same space as benchmarks to ensure that you are getting paid what you deserve. Try not to stray too far out of the range to ensure that you can make sales, unless you know that your influence is large enough to warrant higher prices. Always do your research and make sure your prices reflect your vision for your business and brand! Good luck creators! 🙂