How To Be Profitable As A Digital Creative (Full Roleplay)

Question: Are you a digital creative struggling to make a profit from your passion?

Solution: In this blog, we will provide you with valuable tips and strategies to help you elevate your digital creative business and start making a profit.

As a digital creative, you have the talent and the drive to create stunning visual content, but turning that creativity into a profitable business can be challenging. Whether you’re a graphic designer, photographer, or content creator, understanding how to monetize your skills is crucial for long-term success. In this blog, we will explore the key steps you can take to be profitable as a digital creative, from setting clear business goals to marketing your services effectively. Let’s dive in and unlock the potential of your creative business!

How To Be Profitable As A Digital Creative (Full Roleplay)

Introduction

Hey what’s up beautiful people it’s me Chris doe here on the channel and guess what surprise surprise we have another video about pricing and pricing strategies cuz my friend MO says we haven’t done this enough kill me now already but here’s the thing I promise you if you watch some of our other Videos about pricing strategies and you’re still left confused well guess what we’re going to go deeper we’re going to go high we’re going to go low we’re going to do role plays and I’m going to give you some clear actionable steps and none of this will work if You’re not in the right mind space but the first thing you do is open yourself up to learning this and then thinking through it to see how you would apply this in the real world.

Why Value Based Pricing

I want to Get right into it um I’m going to give a brief summary of some of the things that I’ve personally learned from you and what I’ve seen you teach so people have context to exactly what we’re talking about many creatives when they get into the business there’s usually three Scopes of pricing and you guys can go to this video that he breaks down each pricing type but there’s time based pricing which is basically charging for your time Project based pricing where you’re mapping out how much a project is going to cost for you internally and Then giving the client a rate that has some buffer for you to make a profit and then there’s value based pricing which is pricing based on the value that you are creating for the client or respective Prospect. Chris you’ve been a huge advocate of value based pricing Over hourly rates. I’m an advocate for using the right pricing methodology for the for the task and so if we were like I only have one Ty phase I would use one Tye phase for the rest of my Life and then you’re limiting yourself to whatever else you need to express and this is just a challenge of expression there is a time and place to charge hourly there’s nothing wrong with charging hourly except for when you when that’s the only tool that you have for All itions I’ll tell you when that makes sense when you have fixed scope with variable scope and you don’t and you can’t for whatever reasons you can’t determine what the variable scope is going to be so you can come up with a fixed fee and what when we describe Project based fees it’s not figuring out what your costs are and then doing a markup a fixed fee bid or Project based thing is basically I’m going to guesstimate my cost my profit and some value to the client but basically I promise to deliver a product project Under this budget or on this budget and it can have a relationship with a time spent or it can have no relationship whatsoever but it’s basically saying I guarantee this deliverable based on this price unless you change scope and there’s a time to use that as well and So in my career and I still do to this day I consistently still use all three pricing models so I just want to put that out there in case people are like well easy for you to say or it doesn’t work for all things no one solution Works for all people at all time so it’s good for us to know when it’s advantageous for both us and the client to change the model based on the problem at hand value based pricing is the most difficult one to understand and to implement and there’s a reason why is Because you have to have a business dialogue with your customer each customer is different they value things differently it’s also coincidentally ironically the most fair pricing model because it could mean that you’re going to price something a lot more and something a lot less because the Pendulum swings both ways so we need to understand that right when you understand that then then you can say like well designers creative people who create transformative experiences for people who can actually increase the value of a product because it’s designed well the packaging of it looks good it Connects with its core audience then that is a value that you’re creating beyond the materials and the timing which you put into it and so in this way if we’re going to use an hourly based pricing model when we know what the scope is going to be we’re going to Limit our earning potential and we’re not capturing some Fair percentage of value created and that’s what we need to focus on.

Indicators for Pricing Model Selection

You mentioned something in the middle of that where depending on the problem that you’re solving you have to decide if you need to Pivot the current Pricing model that you’re using what are some of the indicators that you look for for deciding what pricing model to choose if if I’m if I’m like a designer that’s trying to figure this out like what should I pitch or what should I discuss with this person what are you Looking for there to be able to make those decisions you can ask yourself a couple different things what are you really selling what units will we use to measure Effectiveness are we saying we’re selling time and some things make sense to sell in units of time are we Selling in units of product when we do Project based pricing that’s what we’re talking about are we going to sell units of value what is a value to the person and depending on the scenario the situation of what you’re trying to do the answer is going to be very different Most people that we know in the creative space default to selling units of time when time is not a good measurement and I’ll give you some several examples let’s let’s ask our audience this question Mo in what situation where you desire a solution where taking longer is Worth more to you because that then it would make a lot of sense to sell units of time in what situation is it worth more to you for something to take longer when you desire a solution I can’t think of too many so for example I’m at at the Airport I’m waiting for my ride ride share Uber lift something like that a Yellow Cab do I feel like I should pay more for waiting or pay less for waiting and if you’re like most rational people and and it’s evidenced by the app itself the ones that pick you up faster that Get you there in luxury and style will cost more and so if you say okay well I want to order something I bought a new pair of sneakers I wanted them to get here will I..

Frequently Asked Questions

1. What skills do I need to be profitable as a digital creative?

To be profitable as a digital creative, you need to have a strong understanding of design principles, a good eye for detail, and proficiency in relevant software such as Adobe Creative Suite. Additionally, having skills in marketing, branding, and content creation will make you more valuable to potential clients.

2. What kind of projects can I work on as a digital creative?

As a digital creative, you can work on a wide range of projects including website design, social media graphics, branding and logo design, digital advertising, and even motion graphics and video production. The digital creative field offers a lot of diversity in terms of projects you can take on.

3. How can I find clients as a digital creative?

Networking and building a strong online presence are crucial for finding clients as a digital creative. Utilize social media platforms, portfolio websites, and online freelance marketplaces to showcase your work and connect with potential clients. Building relationships and providing excellent customer service can also lead to referrals and repeat business.

4. How can I price my services as a digital creative?

Pricing your services as a digital creative can vary depending on factors such as your level of experience, the complexity of the project, and the client’s budget. Research industry standards and take into account the value you bring to your clients when determining your pricing. Offering different packages or pricing structures can also help you cater to a variety of clients.

5. How can I stay competitive and profitable in the digital creative industry?

Staying competitive and profitable as a digital creative requires continuous learning and staying up to date with industry trends and technology. Developing a strong personal brand and offering unique skills or services can help you stand out from the competition. Additionally, providing exceptional customer service and delivering high-quality work consistently will help you maintain profitability in the digital creative industry.

I hope you find useful my article How To Be Profitable As A Digital Creative (Full Roleplay), I also recommend you to read my other posts in my blog.

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