Seriously are you that desperate to make a buck?
I currently own a new media agency in Minneapolis,MN and I will not budge on my prices, PERIOD. If that means I lose a deal so be it. You know why? Because my services are worth what I charge.
I feel that by (desperately) undercutting your fees to gain some business you are not only damaging YOUR reputation and long term business, but the ENTIRE industry as a whole.
Honestly, fivver gigs are not a business model. So do yourself and your entire industry a favor and charge what you're worth and have confidence in your ability to provide for these people.
It doesn't matter if you are a designer, developer, seo, consultant or whatever YOU ARE WORTH MORE THAN $5 PER HOUR!
Why if your competition is charging $999 would you do it for $299? You're leaving so much money on the table and degrading the service industry and ultimately driving down the profitability within it.
You'll never see me walk up to contractors and say you guys go build my house. Then, if I like it I'll pay you... No, I'll pay a solid price for solid work just like my clients DO and your customers/clients should be doing!
You deserve it.