Pricing is one of the most difficult skills for creative professionals to develop — and one of the most valuable. Getting it wrong costs you money, energy, and sometimes your best clients.
Here's the framework we recommend at Spectrum Connect.
Start with your minimum viable rate
Calculate what you need to earn to cover your costs, taxes, time off, and savings — then work backwards from your billable hours. Most freelancers significantly underestimate non-billable time.
A rough formula: (Annual salary target + expenses) ÷ (billable hours per year).
Factor in your experience and portfolio
A designer with 10 years and a strong portfolio of recognised brands commands 3–5× what a new graduate charges. This isn't arrogance — it's market reality. Don't price against beginners.
Price by value, not time
For projects with a clear business impact — a rebrand, a product launch video, a conversion-focused landing page — price based on the value you're creating, not the hours you'll spend. A 30-second video that sells $500k of product is worth more than the 20 hours it took.
Never just drop your rate
When clients push back on price, never simply reduce your rate. Instead: reduce scope, defer the second payment to a later milestone, or offer a small volume discount if they book multiple projects. Dropping your rate signals that you were overcharging — and it sets a precedent.
Review and raise annually
Your rates should increase at least as fast as inflation, and ideally faster as your skills and reputation grow. Schedule a rate review every 12 months.