Pricing Virtual Buzz Assistant Services

This is a hot topic. Everyone wants to know how to price their services. We have Virtual Buzz Assistants in the network that price themselves estimated at $10 an hour, and others at $60 an hour and above. The lower ones are new and still learning, and the higher ones are experienced and know they can provide a lot of value in an hour.

Pricing Tip 1: Price for Success

(more) Being the cheapest is not the best way to get a client and keep a client. While clients are often worried about cost, they are also worried about ROI. (Return on Investment) That is why you must do a proposal based on what it will take to meet or exceed the client's goals instead of being the cheapest option. For example, I never take a project under $500 a month for 6 months minimum. Why? I simply cannot care enough about the project to make it successful for any less.

That does not mean that is my price. It is simply a filter I use to see if someone has the budget to even consider a project with me.

Pricing Tip 2: Be Profitable

Sometimes people start a business and assume they need to lose money for a while. That is a dangerous habit to begin, because you will probably continue to operate the same way you begin. When pricing, understand your costs, taxes, health care, payroll expenses, book keeping, research time, etc. Price your services not based on what you would like paid, but on what your business expects to make. Your pay is just one expense to your business.

Pricing Tip 3: Industry Specific Pricing

As you work with clients and have personal interests in areas, you will be more of an expert in some areas than others. If you already have a lot of knowledge and connections in an industry, price new clients targeting that industry at a higher rate. You will be able to get them great results with less effort, because you are more of an expert.

You could also have products to sell within an industry. You could have 50 top bloggers in an industry that you have a good relationships with. Then charge a set fee to send a message to this group for a client. Then you are pricing an offering instead of your hours, which is a great way to make more money in less time while providing a great value.

Pricing Tip 4: Starter Package

If you are worried about getting a client that is sensitive to price, don't lock yourself into a long term low price. Instead, offer a starter rate that is discounted. For example, you could take 50% off the first month or you could throw in a free 4 hours that you will spend getting to know the client's industry without billing them for it. Stress to the client that once they see the benefit you provide, they will not be as concerned about price.

Pricing Tip 5: Emotional Buy-in

I always include a 30 day cancellation policy. Clients can cancel at any time with 30 days notice. This gives us time to wrap up what we are working on and transition loose ends to the client. Even though they can cancel at any time, it is beneficial for the client to emotionally accept the fact that buzz takes time and needs to be an ongoing effort. For this reason, they sign a contract with us saying the project is for x months (usually 6) and automatically renews until the client or we cancel it.

Pricing Tip 6: Clarity

Your pricing, especially for a retainer service, must clearly define the tasks that are included, up to a maximum, and can include cost per hour over the budget if you so wish. For example, if you were to sell your blog writing services for $500 a month, but you did not define clearly what you would be doing, you might write and post three posts per month when the client is expecting three posts per day. Also, you might write quick blog posts when the client is expecting 700+ words per post with images and video.

Your business will be more profitable and your clients more happy if you have clear outcomes for your price.

Pricing Tip 7: Advance Payment

The services you are offering cannot be returned or repossessed. Plus, it is somewhat subjective. For that reason, you are advised to get payment in advance of each month's activities. Most clients understand this, and you can always offer a money back guarantee in the first 30 days if someone is uncomfortable with paying in advance.

We actually do not schedule tasks for a given month until the check arrives or the automatic payment is processed. If someone pays late, we let them know it could impact the quality of the work because activities are put on hold in many cases.

Are there exceptions to this? Sure. Some clients that have been with us for years are going to get more slack, but in general we enforce our operating procedures across the board.

Pricing Tip 8: Raise Your Prices

The pricing you set today should not stay the same forever. You may or may not raise prices for your existing clients after a while, but you should definitely increase your prices for new clients as you become more experienced and skilled. You should also explore options to outsource or automate portions of the projects that could allow you to get better results in less time for the same money.