This is a question that I get regularly in my DM’s on Instagram, and to be honest I have no idea why it took me so long to write this blog post.
This is a very common question, especially if you’re starting out as a podcast manager, a podcast editor, or a virtual assistant, and you don’t have that much experience working online yet.
So, in this blog post, I’ll share 4 tips about pricing your services as a podcast manager (or podcast editor). Let’s dive in!
Tip 01 – Network With Other Podcast Managers
Getting that first client can be hard. I know.
Believe me, I’ve been there.
Imposter syndrome doesn’t help it either. So, how about start networking and reaching out to other podcast managers? Check what they’re doing, start a conversation, mention that you’re getting started and you look up to them.
- They will definitely appreciate you for that.
- They have great insights that can help you along the way.
- They’re always looking for help as well. They might be able to offer you an internship where you can learn, get the experience and confidence to get yourself out there.
Another great way to find internship opportunities is on Facebook and Linkedin groups, or websites like Acadium.
Tip 02 – Track Your Time
The first thing you need to do is track your time and discover how long it takes you to complete each task.
What do I mean by that?
Chances are, as a podcast manager, you’ll have different clients that need help with different things. Some clients only want help with audio editing and scheduling the episode. Some others might need the whole package:
- Audio Editing
- Scheduling on Podcast Host
- Content Repurposing (to social media)
- Scheduling Posts
- Graphic Design
- Writing Newsletters
- Contacting Guests
- Updating the Website
Do you see how much is behind one episode?
So, in order to offer them an accurate (and fair) quote, it’s essential that you understand how much time you’ll need for each of those tasks.
Then, you can add it all up, and multiply it by your ideal hourly rate.
Example:
- Audio Editing: 2 hours
- Scheduling on Podcast Host: 10 minutes
- Content Repurposing (to social media): 1 hour
- Scheduling Posts: 20 minutes
- Graphic Design: 1 hour
- Writing Newsletters: 20 minutes
- Contacting Guests: 10 minutes
- Updating the Website: 30 minutes
Total: 5h x $25 = $125
But…how the heck do I determine my hourly rate?
Tip 03 – Define Your Hourly
I do not recommend charging hourly. It’s better for you and the client to work with packages.
It’s easier for them to budget, and it’s more profitable for you as you will only get quicker as you gain experience.
It doesn’t make sense to make LESS money, because you got better at the job. Right?
So yeah, define a package price with a list of all the tasks included. You do not need to tell them how many hours are involved. That shouldn’t matter. Your job is to get it done under the timeline.
That being said, you do need to determine your hourly rate because that helps to price your services.
Let’s do some math
Calculate your monthly expenses:
Personal and business expenses.
Calculate the number of hours per week you have available for online work
If you can only work 4 hours a day, then you have 20 hours a week (considering you’re taking the weekends off).
Remember you need a vacation!
How many weeks of vacation do you need? YOU decide that now, you’re your own boss! #bossbabe
Your hourly Rate
Now that you know 1) your expenses, 2) your billable work hours, you can decide your hourly rate.
If you have no experience and you’re really just getting started, keep that in mind.
You won’t be able to start charging $50 with zero experience. You’ll have to put in the hours first, and after a few months, you should be able to raise your rates, and aim for higher ticket clients.
Also, don’t sell yourself short just because you’re getting started. You’re offering them value, you’re giving them more time to dedicate to their business. You’re providing an in-demand service and you should charge accordingly.
Personally, I wouldn’t go below $20 for podcast editing and podcast management services if you have the training and a portfolio.
Tip 04 – Give Options
This is KEY when sending out your proposal to potential clients.
So, I’d like to paint you a picture here:
A client reaches out to you, they book a discovery call where you find out they need help with:
- Audio Editing
- Scheduling on Libsyn
- Content Repurposing (to social media)
- Scheduling Posts
- Designing 2 graphics on Canva
What happens next?
Most of the time, you’d send them a follow-up email with your hourly rate or a quote for those services.
But I don’t believe that’s the best way to go around it. That means you’re probably going to hear a YES or a NO. Or they’ll try to negotiate your prices which is always a bit of awkward situation.
What I personally do is this:
I offer them 3 options.
That way, they can choose what fits best their needs AND their budget.
Look how many options they have, and I always make sure they understand it’s all customizable (is customizable a word? I hope so!). They’re free to email me back if they want to add or change anything in the package of their choice.
Doing this, you give the client the opportunity to be a part of the pricing process (while still being the one in the driver’s seat) and we avoid that whole awkward negotiation.
Well, I REALLY hope this helps you, and I want to finish this blog post with a special gift. I’m making available to you my own business proposal template.
It’s a Canva template, so you’re free to make it your own.
With this template, I was able to sign 2K+ clients. It’s GOLD!
To get access to the template all you have to do is give me your name and email below (a link to use the template on Canva will be sent to your email).
Once you get it, let me know what you think! I LOVE to get messages from you all.
Don’t be shy 🙂 You can find me on Instagram as @idea.blossoms.