Lowball Puts You Behind The Eight Ball
Ryan Healy, a talented copywriter whose blog I love reading, recently said that copywriters shouldn’t be cheap, especially when they start out.
It’s a powerful notion, because many beginning copywriters believe that being cheap will get them more business. (There are other ways around this, of course. Knowing how to market yourself is one thing. Focusing on a specialty, a niche, is another. But more on that at another time.)
The bottom line is, if you lowball your rates, you will not get as much business as you think you’ll get. Sure, you will probably get some. But it’s the kind of business you don’t want.
Remember this important rule:
Cheap copywriters attract cheap clients.
If you lowball for clients, you are also “lowballing” yourself. Why? Because you are sending signals out in the marketplace that you’re not in demand, or that you’re perfect for the penny-pinching, attention-sucking vampire who can’t afford your even low fee.
I would even go as far as to say that those clients who do want cheap copy have money issues or money problems. I don’t mean the “I need to pay the bills” variety. We all have that problem at one point, particularly if we run a business.
But what I mean are those with scarcity mindsets, or with poor products that don’t — and won’t — sell, no matter how good (or expensive) the copy is.
If they’re looking for “cheap copy,” that’s a red flag right there. I’m not saying it’s true in all cases. There are some genuinely great clients out there who can’t afford the average fees some copywriters charge, let alone the outrageous ones copywriters like me charge.
But it’s a red flag nonetheless.
If they do have a product that’s well-researched and in demand, and the product is still not selling for whatever reason, then likely it’s because either they have a poorly defined market, or a poorly targeted one.
(If that’s the case, then you’ve just placed yourself at the mercy of a poor marketer who will require extra hand-holding, and their copy will demand critical marketing direction from you — beyond the work for which you were commissioned, and for the same low rate.)
More often than not, the reason is that they have a scarcity mentality, and therefore will be problem clients, demanding clients or abusive clients.
Just the perfect kind of client you DON’T want.
And here’s why:
Beyond the extra work (for no extra pay) you will have on your plate, their own scarcity mindset might even self-sabotage their attempts at making money, and cut their own selves at the knees — such as, among many examples, modifying your copy before even testing it.
(And guess who they’ll blame if the copy is not pulling?)
Second, these vampires will be sucking precious time away from you — time you could have invested in marketing yourself more to attract and work with better clients who are both able and willing to pay your fee.
The greater question is, do cheap copywriters attract cheap clients? Or do cheap clients attract cheap copywriters? Either way, it doesn’t matter. What matters is that if a copywriter wants to be cheap (for fear of not getting any business), three problems occur:
1) They attract cheap clients.
And by poor clients I mean both clients who are poor and can’t afford a copywriter in the first place, as well as poor quality clients who are going to be more demanding and troublesome than the norm.
2) They lessen perceived value.
They cheapen the perceived value in their services — even if the copy is indeed of great value. That means, they will lose clients who don’t want cheap copywriters.
Why? Because if they’re “that” cheap, then their work must be just as cheap. (In their minds, anyway.) Worse still, they must not be in demand and therefore have trouble getting work.
In this case, it’s a red flag for the other party. As a mentor once told me, “Perceived truth is more powerful than truth itself.”
3) They are wasting resources.
Cheap copywriters will waste time, energy and money working on these problem clients, when their time could have been better spent on marketing for, and projects by, other, better, more value-interested clients.
So they lose more in the end by charging less.
Now, after my comment on Ryan’s blog, someone riposted with the following negative albeit insightful comment:
Michael’s concern about the effect on your reputation for accepting a low rate is silly. How are your clients going to know what you are being paid and who your other clients are unless you tell them?
Granted, this person is 100% right in principle. But other than a high-priced copywriter who discounts after the fact, tell me how many “cheap” copywriters keep their fees — and their portfolio of past clients — a secret? Their low fee IS the main selling point in their marketing.
But I digress. Let me clarify the point I made about reputation (more specifically, perceived value).
If I told you I have a brand-new BMW for sale, and it’s only $500, would you think something’s wrong with it? Of course, you would. In fact, you might even think it’s stolen.
Freelance networks like eLance.com who underbid constantly have their pros and cons.
I know there are some good copywriters there. But all too often, the problem is that they’re NOT the ones doing the underbidding. What I’ve found is that eLance is the home of many “sweatshops” with copywriters of less talent or experience — as well as some unknown copywriters who cannot get work otherwise.
For many beginning copywriters, such networks do offer a potential kickstart. That’s fine. If they lack a track record, have no reputation and want to establish themselves, it’s not a bad option. (But it’s not the only one, though.)
Otherwise, cheap copywriters are like that BMW for $500: either something’s wrong with the copy, or its stolen.
(You wouldn’t believe how many freelance copywriters from such networks I have caught copying my salesletters verbatim for their clients. It’s a frequent occurence, sadly.)
Again, let me be clear:
Does that mean cheap copywriters are all thieves and shoddy? Not at all. Like the $500 BMW, you just might stumble onto a heck of a deal. But that, I’m afraid, is rare.
For beginning and aspiring copywriters, they can start low — if they really have to. But I always teach them to retain or heighten the perceived value in their services anyway.
By asking for something in exchange for the concession, their fee is expressed in forms other than just money, whether it’s a referral, a testimonial letter, a bartering arrangement, a chance to gain feedback they can tout in their promotions, etc.
Doing so does three things:
1) It retains or heightens the perceived value in the copywriter, even if they charge a low fee. Because the client is still paying for it, whether it’s in extras or referrals.
2) It stops the grinding away process in asking for more. When people get concessions for nothing, they tend to expect more because of the very mindset that caused them to look for cheap copywriters in the first place.
3) It increases the perceived value in the service, too — and NOT in the concession the copywriter is making. This works for many reasons, such as retaining the value of a service rendered, which tends to decrease after delivery.
In other words, if the copywriter wants a testimonial or referral after delivering the copy and did not require it as part of the fee arrangement, it will be harder to obtain because, in the mind of the client, the copywriter is asking for a concession without making one.
(And if they agree, the likelihood they will make you work for it in other ways is just as high.)
Ultimately, look at it this way: do you want 100 cheap clients who will demand all of your time? Or do you want 10 good clients, paying you the same income, and demanding only a fraction of your time?
As Ryan said, “Don’t be cheap.”
About the Author
Michel Fortin is a direct response copywriter, author, speaker, consultant, and CEO of The Success Doctor, Inc. Visit his blog and signup free to get tested conversion strategies and response-boosting tips by email, along with blog updates, news, and more! Go now to http://www.michelfortin.com.
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From Is Copywriting a Masculine Skill? | The Michel Fortin Blog
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Source Website May 4th, 2008