Dynamic Pricing: The Secret Weapon Clever Freelancers Are Using To Maximize Their Income

Brian Hood (0:00)

This is the 6 Figure Creative Podcast, Episode 230

Welcome to the 6 Figure Creative Podcast, where our mission is to help you turn your creative passions into a stable, reliable income. If you're in audio, video, design, photography, or really any other creative field, and you just want to learn from other successful creatives, you're in the right place.

Hello, and welcome to the 6 Figure Creative Podcast, where we believe that it takes more than just passion in order to make a full-time living with our creative skills.

If you believe that, you're in the right place if you're a new listener, because if you think that all it takes is passion, if you're passionate enough, you will succeed. I can't really help you. It takes other skills above and beyond the creative skills that you have, and it takes way more than just the passion you have. If you're a returning listener to the show, you already know this. You see the sign on the wall. It says it takes more than passion. You already agree with this. That's why you're coming back to the show. I want to first thank you for coming back. Then I want to thank you again for filling out the feedback form that we launched on the last episode, episode 229 That feedback form has been great for getting ideas, getting feedback for things that we should change, things that we should maybe adapt and move around. My goal for 2023 is to make this podcast a top 10 in our category. We have peaked at 11 We haven't cracked the top 10 yet. We kind of hover between 11 and 25 It just depends on the week or the month.

And the only way we will crack that is if we improve. The show needs to get better. If you've been with us for a long time, it's going to be some massive changes over time. It's evolved over time. Not all changes have been for the best. Sometimes it's good, sometimes it's bad, but I want to make sure 2023 is a year of evolution for this podcast in a positive way and crack that top 10 once and for all and stay there. So this forum, anyone listening right now or watching on YouTube right now, go to 6figurecreative.com/better, B-E-T-T-E-R, the link's in our show notes as well. And on that forum, you can tell us what you want in the show, what you don't like about the show. There's just like three questions there. Do you want more interviews? Do you want less of me being on solo episodes like this? Do you want more co-hosts episodes? What do you want? Personally, you, specifically you. Fill out the questions, let us know it's 100% anonymous survey, unless you put your name in there somewhere in one of the answers, we won't know who it is. And the entire point of this is to get feedback. The topic today is actually from one of the people that submitted feedback for me.

So that feedback form is something I'm gonna be regularly pushing because I want to have a constant pulse on our audience to know whether or not I'm going the right direction with this show. Because if you're not listening to the show, I can't help you. And if I don't know what you want, I can't help you either. I can tell you what I know you need, but also I have to shape it around what you think you need as well. Because that's the reality of running a podcast. I have to attract you with what you think you want, and then I have to actually give you what you need. That's just candid honesty right there. So today's topic is an important one when it comes to making a full-time living as a creative or specifically a freelancer, who we talk to mostly on this show.

It's the topic around pricing. And if you listen to last week's show, episode 229, Raise Your Gosh Darn Rates, I wanted to try out a stupid title to see how the downloads did.

The theme of that episode was Raise Your Gosh Darn Rates. That's basically it. We talked for 30, 45, 50 minutes, I don't know how long it was, talking about raising your freaking rates.

You need to do it, you need to charge more. Today's episode is a little different. It is about raising your rates. It's also about lowering your rates. It's about when to raise, when to lower.

It's a skill that I used my entire career, and I've never really talked about it. I don't know why I haven't talked about it. It didn't even come to my mind until I was onboarding one of my coaching clients. We were just talking on a coaching call, and we brought up something about Airbnb. So I'm gonna talk about how Airbnb plays into this, but this pricing discussion today is about the most profitable way to price. Yeah, you can raise your rates all day long, but at a certain point, you're not gonna get clients. Let's just say you charge $1,000 per client on average right now. Well, if you charged $5,000, maybe you can get some clients still. I think you probably could. What about $50,000 or $100,000 for that same service? What about $1 million for that same service?