Learning how to set your translation rates is key when you’re a freelancer. To do so, you have to consider and research several factors, such as market trends, your competitors, your current circumstances and your clients’ needs. The only way to achieve your financial goals and make your clients happy is by setting your rates consciously and with data to back you up.
During this session, we will explore how to use four pricing strategies (value-based pricing, penetration pricing, competitor pricing and premium pricing) to determine our translation rates and how to research data for each strategy.
We will also look at cost-based pricing as a way to calculate your minimum rate and use it as a starting point for other pricing strategies. Finally, we will briefly touch upon common pricing conundrums, such as what to do when a client asks for a lower price, or how to raise your rates over time.
