Copywriter Pricing Guide...

Both Steve Slaunwhite and Chris Marlow sell copywriting pricing guides. They're both quite helpful.

Marcia Yudkin

Of course you can charge up front if you like. 30% or whatever before the work commences.

Do copywriters give a guaranteed conversion rate? If they do, surely it would be assumed that it would be based on targeted traffic, no?

If I was a copywriter, I'd be wanting to see screenshots of the stats. Would a client lie if the pitch wasn't pulling in a previously agreed conversion rate? Perhaps. I would imagine it would be rare, though.

What if you asked the client to install your own Google Analytics as well as their own? Would that help?

Dietriffic,

I COMPLETELY understand your frustration on the topic of "Copywriting Fees vs Results".

I too have spent WAY more money on copy that never produced than I'd ever care to admit.

And it always makes me laugh when copywriters go on and on and on about needing to provide a guarantee they NEVER would offer to their own clients.

Hello, ever heard of the "Golden Rule"?

Yet, most copywriters won't offer a guarantee (although, they'll gladly take your money upfront with a smile. And if the results suck, "Sorry").

The reason I quoted Cam Connor above is because the dude has a valid issue.

So here's what I'm thinking and I would love your thoughts on this:

Super-Duper Copywriter partners up with Super-Duper Traffic guy. Client offers an upfront fee, and places the remaining amount in an escrow account. Client pays for copy and traffic at same time.

Get results, and the money is released. Or maybe escrow releases money by agreed upon milestones.

Yes, Super-Duper I & II have to screen their clients. Yes, Super-Duper I & II have a clear agreement.

Let's eliminate excuses and give our clients what they really want:

RESULTS!!!

Your Thoughts?

Dietriffic,

Marcia pointed out two solid resources for you.

Copywriter prices definitely range across the board. It can depend on the experience level, track record of the copywriter, and what they feel their time/expertise/skills are worth.

Since I write both offline and online marketing, I quote by the project. Otherwise, my fee schedule would resemble a Chinese menu.

The biggest thing that non-copywriters don't realize is how much time a professional copywriter can spend on each project.

A "typical" online salesletter from scratch is a 40 hour time commitment minimum for me. That's what I need to study the product, target market & competitor analysis, write, edit, proof, polish the copy. I also have multiple rounds of writing & editing until the copy is where I feel it's ready for prime time.

The other factor on fees are the average monthly fee your copywriter has to charge to meet their bills. Someone who charging $197 is relying on writing a lot of salesletters each month to meet their bills. They can't realistically commit as much time to each project as someone who is charging $4000 or more.

Hope that helps,

Mike

If what you want is cut-and-dried information on pricing, get one of the pricing guides I mentioned in my earlier posts.

Marcia Yudkin

The best way for a copywriter to price his/her services is by value.

1. Determine how much value you bring to the table
2. Persuasively communicate that amount to the prospective client
3. Apply a percentage to that amount, and that's your price.

Alex

Rick's right -- this model can work very well for everyone involved.

FYI -- Bob Bly also has a pricing guide. Don't know if he's kept it updated, but in addition to listing rates it does a great job explaining the various types of jobs -- word counts, examples, etc. If anyone wants the link, PM me.

One last thought: Not sure if anyone mentioned this ('cause I didn't read all the posts)... but be careful basing your copywriter's fee on the product price and conversion. That's fine for performance bonuses, but I've written 24-page tabloids (10,000+ words) selling a $9.95 trial. Even with the high conversion rates we enjoyed, using the OP's suggested model I would have earned only a small fraction of what I did.

I was thinking about this post, and i was like "Crap, I remember another post just like this."

And guess what?

Tah-dah, here it is!

Be Awesome!

CA

Ansar,

Thank you for providing feedback on my model for creating win-win copy that, "has so many holes it's laughable".

I guess you and my wife have a lot in common -- I make her laugh too --because she also tells me, " [You have] NO IDEA what you're talking about"

Which usually means I either didn't fully explain myself, or, I'm wrong.

Just in case the former is the issue, I'd like to fully explain myself. And if I make a fool out of myself, well, I'm good at that too!

All I ask is that you be open to me having a valid point, and reserving judgement until you've read the entire post.

So here goes:

The goal of my model is to create a situation where the client is paying for results.

Because clients want copy that produces results, not words on a page that look nice. Nor do clients really care how much time you've spent researching. Clients don't even care you missed lunch and/or dinner because you were in the copy zone.

Nope. Clients care about results. They care about this:


And I personally believe if you charge your client any amount ($495, $4,995, $49,995), that amount should be a fraction of what that takes in. That is a TRUE INVESTMENT.

And I think copywriters should guarantee that.

However, it seems word "guarantee" scares the living daylights out of MOST copywriters.

Conventional wisdom is that a copywriter NEVER guarantees a conversation rate or results. And if they do, that is an immediate sign they are a "scam artist". And very FEW guarantee an INCREASE in conversion rates or sales.

The conventional reasons behind this are:

* A copywriter doesn't control the traffic sent to the offer
* The client has small marketing budget
* "Sure-fire" offers fail all the time without a "good reason
* A copywriter can't promise the results will last because market conditions change, making both the copy and offer outdated
* The client will lie to regarding the results
* Nobody can say with certainty a copywriter can get a specific result because that is just plain impossible
* the market is saturated for your product, meaning an increase in sales in unlikely
* You already converted your best prospects [assumes offer is already public]
* Copywriter can not control client from raising the price, killing demand
* The client changes the copy, which kills conversion rate
* Client has send autobot traffic to kill conversion rate; therefore killing performance bonus
* The product/service has no demand
* Client don't have a backend
* If the project bombs, I'm out my time and effort
* other factors that are out of our control as copywriters

Let me be clear:

These are VALID and MATERIAL concerns for a copywriter.

But God Dammit, we're ****ing copywriters.

It's our job to overcome objections. It's our mandate to innovate.

It's a calling that inspires us to look deeper in the mines. Explore for veins others dismissed as "impossible".

And lets overcome some KEY objections:

A copywriter (cw) doesn't control the traffic sent to the offer
The CW should partner with a traffic specialist or firm that uses PPC, Social Media, Affiliates, and offline direct response marketing. When the client signs and pays their initial retainer agreement, a significant portion of the retainer will be used to drive targeted traffic. The client will receive comprehensive traffic reports, and conversion metrics at key points of action.

The client will also allow the copywriter and traffic specialist to insert their OWN tracking script in the webpages AND have access to the website stats

By combining both copywriting and traffic into one package, the copywriter now can control the traffic or have a very detailed understanding of whats going on.


Market Conditions Change
The engagement letter between the client and you should CLEARLY state a specific time period the results are good for. I think a term of 6 months is reasonable.

I'd also include a continuity program to maintain the results of the copy after the specified time period, if the client chooses.

Client has a Small Marketing Budget
Don't take them on as a client. Make sure, given your history, they have enough money to promote their product. When you and traffic specialist meet, you need to come up with a "safe" number to tell the client they need.

If they say, "No way Jose." Reply, "Adios MF"

Clients Lie
YOU must preform your due diligence on the client. I'd call 5 previous/current vendors and get a feel for the client. If they screw people over in the past, they'll do it again in the future. If a vendor feels they got screwed over or ripped-off, then confront the client. Look, problems happen. Just see where they are coming from.

As for stats, make sure you have access to logs and other key databases. No access. No engagement.

Have language in your engagement that allows you to insert your own tracking code in the pages them self.

And of course, good judgement is always key

The Client Changes The Copy
Be upfront: You change the Copy, you void the contract. Period.

The Product Has No Demand:
Before signing to do the project, do a QUICK feasibility study. This is where you as the copywriter need to decide if you want to take a chance on this pony.

Project Bombs And I have to actually Refund
Play the odds here. If 1 in 3 projects fail, increase to account for the risk factor. If 1 in 10 fail, increase to account for that risk factor.

However, because not many copywriters are willing to offer a guarantee, you can account for your risk and a market premium. In words, if 1 in 10 projects fail, raise your fee by 10% plus ANOTHER percentage amount because of the uniqueness factor.

The Client has No Backend
Either dump the client or assist the client in creating a backend. Make a choice.

What Results Do I promise
That is up to you do decide depending on your skill level. However, at the very least, you need to be able to prove to the client that your 1) costs pays for itself + 2) the opportunity cost of time to fulfill the sale.

In other words, if you charge $5,000 to the client, you need to have added $5,000 to the BOTTOM line plus the rate the client charges for their time to fulfill the order.

So if the client charges $100 for his time, and it takes 1 hour to fulfill the order, at a copywriter charge of $5,000, then you need to produce $5,100 net.

Before "costing" your client $5,000 dollars, I would set up milestones along the way. Meet the milestone, and then proceed. If you fail a milestone, stop the engagement and cut your loses there.

The End

I look forward to reading your response!

Freelancers Business Store

For Copywriters Only : proven strategies for attracting more clients and better paying projects

If you are going to buy only one, then buy from Steve Slaunwhite because he is a nicer person.

Marcia Yudkin

Ansar,

Thanks for your quick response.

BTW, I'm coming from the copywriters point of view in terms of offering something unique in the market place.

This model is not for everybody. You would need clients in the $10,000+ range for this model to begin to work.

And I think, as you indirectly pointed out, the client would need to pony up some immediate money to show they are serious.

Answers below...

Yes. The copywriter should have a shared risk. The copywriter should also be charing a healthy premium.

If a copywriter has a solid partnership with a traffic guy, that would be unique in the market place.

I COMPLETELY disagree in the concept of tying your success with others. Wealthy people DEPEND on several key business relationship to continue their growth.

Lets build a business here. Not a J-O-B.

I'm not suggesting you guarantee a conversion rate. Rather, you guarentee positive cash flow proformance.

Valid. However, legally, lawyers CAN NOT do that. It's ILLEGAL.

Trust me, if they could, they would, and gladly write-out the losses in exchange for the premiums they would charge.

Also, Vin is a brand. Brands get to play by different rules.

And I HIGHLY doubt he would take on a loser for the money. Close to 0%.

And if a client did lose on a project he was working on (a real bomb), I'd bet you make up for that in the next project, or attempt make the situation right.

At that level, you work with a client many times. Its not a one-night-stand.

That is false. You don't pay. Then you sue for malpractice.

well... tell him to get on live tonight... The replays are only through this week... then we're not going to replay. We're just going to put up highlights and force you guys to actually call in.

The devious plot.

There are ordinary writers. And then there are "remote sales people".

Most people here bitching about how conversion can't be tracked or fees cannot be based on conversion and the like, they really secretly want to just be writers.

And Frank Kern is right, "most" people in Warrior Forum are amateurs. And then there are charlatans. And then there are some savvy marketers too, of course. Like me.