Selling a service: How to price?

What service are you talking about? SEO, Web Design, etc...

Need a little bit more info to give you some more guidance.

Normally I would say at set price. But if a potential client only can afford so much a month, thats fine but then they need to realize that ranking a site will take longer. (This is referring to SEO)

I don't know if my input counts on this since I don't sell social media services but content writing.

Some years ago, I started my content writing service without showing my rates on my website. There was only a "Request a Quote" option.

Finally, two or three of my clients advised me to come up with a pre-determined set of rates per type of writing so it'll be easy for anyone - not just for them - to make a go or a no-go decision as soon as they visit my website.

So I tested to see which strategy has a higher conversion rate.

My clients were right.
My sales skyrocketed and it has been doing such good conversion rate until today.

I think, some people, find it a little shady if the service provider does not disclose the rates pronto.

I realized that if I was a client and the service provider told me, "Give me your budget and I'll see what I can do with it", it reduces my interest to choose that service provider because I have that doubt that he or she is just trying to make the most (what he/she will get) out of my money.

So, my recommendation is to present your rates on your site.
Be proactive in doing that.
I've been operating a content writing business for almost a decade now.

You're welcome, Biedec48.
Remember, we shop around when we want to buy something.
So if a prospective buyer stumbles upon on your website and he does not see your price, there's a high probability that he'll proceed to the next.

I sell coaching services and I have packages available for all budgets.

I have a $1997 option
$497 option
and a $97 option

Believe it or not, I don't sell to many of the $97 one. It's just a matter of what you are offering and what type of value you are providing.

Have a package available for people of all budgets, but also have an option where people can spend as much as they want with you

@YourOnlyWriter yes in starting putting a "request quote" is not very good idea.

you should have a good pricing plan which suits for all budget customers. you can search google for sellers which are providing service same as your and see their pricing and then make your service`s price plans.

Mate, if I may give yet another unsolicited piece of advice, don't compete in terms of price.

OMG, in my content writing service, I have a gazillion of competitors who are offering their clients for a price that's almost close to free.
I don't.
My unique selling proposition is to double the value my clients get on top of what they're paying for.

Again, if almost everyone is acting in unison in terms of competing by price, they're not your competitors at all if the value you give to your clients is your utmost priority.

try to do some research in WF on how much people are charging for the same service. I would say the best is to lower the price or offer some review copies as a starting point. Once you got some good feedbacks/reviews, then you can charge more of course. Hope that helps.

I think you'll find this useful. It's both a qualifying tool and method for getting the prospect to see the value of what you offer--and set the price higher than you probably would. It's also my 3,000th post here on the forum, though rather than redirecting you to the Offline subforum I'll keep it in this thread:

Can anyone tell me what social media management implies? It is about managing social media accounts or something else? Thank you!

Create a price page. There are many info graphics that you can use. Most are available for free and you can download one. Typically there are three main tiers:
BRONZE, SILVER, and GOLD.

Set fee.

Look for competitors that offer a similar service online, figure out how much YOU need to make in order to make your pricing profitable for yourself, and try to come somewhere between the two.

I'm going to offer a "hybrid" to you as the best solution.

What I have found that works best is a spectrum of set pricing-- that allows you to play with the price and bring it higher or lower depending on your clients need (and marketing budget!).

That way, you can lower the price to get a sale—or raise it to grasp money being left on the table— without seeming like you are picking numbers out of the air.

Always have a REASON for your pricing.

Wowzo! What happened!