Welcome to Open Studio Podcast – Episode 169!
Pricing your creative work can feel overwhelming, especially when you're just starting out. How much should you charge? What if you price too high and lose the client? What if you price too low and undervalue your work?
I’ve been there. And today, I’m sharing the biggest pricing mistake I made as a freelance lettering artist—one that cost me thousands of dollars. More importantly, I’ll show you how to avoid making the same mistake so you can start charging what your work is truly worth.
The Common Pricing Pitfall: Charging for Time Instead of Value
Many creatives start with hourly pricing because it feels straightforward. You calculate how long a project will take and charge accordingly. But here’s the problem:
📉 The better you get at your craft, the faster you work—meaning you actually earn LESS over time.
💰 Your clients aren’t just paying for your time—they’re paying for your expertise, creativity, and the impact of your work.
That’s where value-based pricing comes in. Instead of charging by the hour, you price your work based on the overall value it provides to your client.
My $500 Mistake
Early in my career, an agency hired me to refine a logotype. I estimated that it would take me a few hours, so I charged a flat fee of $500.
Fast forward a few months, and I saw my lettering everywhere—on packaging, in ads, and across a massive rebranding campaign for a well-known company. They had invested millions into their new identity, and I had only charged $500 for a key part of that transformation.
That’s when it hit me: I should have priced my work based on the impact it had, not just the time I spent creating it.
How to Set Your Prices the Right Way
To avoid underpricing your work, consider these key factors when setting your rates:
1️⃣ Usage & Visibility
The more eyes on your work, the higher your price should be. A local project will have a different value than a global campaign.
2️⃣ Client Size & Budget
A small business and a large corporation have different budgets. Understand who you’re working with and adjust your pricing accordingly.
3️⃣ Project Scope & Exclusivity
- Will the client have exclusive rights to your work?
- Will it be used for a short campaign or an ongoing brand identity?
These details impact the value of your work and should be factored into your pricing.
Industry Pricing Benchmarks
If you’re unsure where to start, here are some general price ranges in the lettering and design industry:
🎨 Book covers → $400 – $5,000+
📰 Editorial (magazines, newspapers) → $300 – $2,000+
🔠 Logotype design → $500 – $100,000+
📦 Product packaging → $250 – $1,500+
📢 Advertising campaigns → $5,000 – $100,000+
While pricing varies, these benchmarks can help you position yourself competitively in the market.
Make the Shift to Value-Based Pricing
If you’re just starting out, it’s okay to use hourly pricing to get a sense of how long projects take. But as you gain experience, shift to value-based pricing to reflect the true worth of your work.
Key Takeaways from This Episode:
✔ Know the difference between hourly and value-based pricing.
✔ Don’t just charge for your time—price based on the impact of your work.
✔ Gather all project details before quoting a price.
✔ The more eyes on your work, the higher your rate should be.
By making these shifts, you’ll avoid undercharging and start earning what your work is truly worth.
Want more insights on pricing and making a living from your lettering skills? Download my free guide, Lettering Success Secrets, at martinaflor.com/guide.
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To access the full show notes for this episode, click here: https://martinaflor.com/podcast