Inside skinny on writing fees

0 CommentsWednesday • February 10, 2010 • by Michele Dortch

Figuring out how much to budget for a writing project can be a bewildering experience, especially if you’ve never retained a writer’s services. Writing fees do vary widely, but armed with the basics you can negotiate the best rate (and writer) for your project.

3 variables that affect writer fees

To get baseline for writing fees, flip through a current edition of the Writer’s Market to browse the industry standard. To get a more accurate estimate for your project, consider these key variables:

Type of project
Penning copy for a sales brochure will often cost more than writing a blog post. Why? Simply put, developing effective sales copy requires a unique skill set and is often more complex than crafting a simple blog post. It takes more time, so it will cost more money.

Scope of work
Writers invest more than writing time to most projects. Many spend time researching, interviewing, editing and consulting to develop a well-rounded written piece. If your project requires these elements then expect to pay a higher fee.

Experience and expertise
Robert Bly says it well, “…a highly talented novice is worth more to clients than a hack, no matter how long the hack has been working.” At the end of the day, you need quality content that gets the results you want and it may be worth paying a bit extra to get it.

Common billing options

Most writers will use one or all of the following billing methods. There are advantages (and disadvantages) to each, so be sure to carefully consider which will best suits your needs:

Project rate
A flat fee to complete a single writing project; for example, content for your static Web site or the development of training curriculum.

Retainer rate
A fixed amount paid on a regular basis, usually monthly. Best suited for on-going writing assignments like blogging or newsletter content.

Hourly rate
A set fee paid per hour worked, which can work favorably for a client if the writer is fast. But can also create budget issues if the project takes longer than expected.

Per word or per page rate
Usually reserved for journalists and magazine writing, with fees ranging from as little as 10 cents a word to upwards of $3 per word.

What you should know first

Before you contact a writer, spend time clarifying what you need. Knowing the answer to these three questions will help:

How much can I realistically pay?
Set a baseline budget before you discuss your project with a writer. If you’re not sure how to set the budget, use the Writer’s Market and other resources online to get a feel for writing fees. Then, be open about your budget so the writer has a fair opportunity to assess your budget alongside your needs.

What are the results I expect from this writing project?
Think beyond the content. Of course, you want content and regardless of who you pay or how much, you’ll get content. But the underlying question is: What is it that you want the content to do? Understand this, and then communicate that to the writers you’re considering for the project. Do they understand the value you want and how do they anticipate delivering it?

What is my return on investment (ROI)?
For many businesses, content is a critical part of their marketing and sales efforts. Develop a piece of marketing collateral that concisely describes your company’s value to a customer and it could have enormous revenue returns. On the other hand, presenting hasty content that doesn’t connect to your audience diminishes your value and reduces your earnings.

The incite-ful bottom line

Fees are important. But beyond cost, you want the best writer for your project and balancing your desires alongside your budget can be tough. You might need to choose a low-fee writer who can quickly churn content for a blogging project. Other times, investing more financial resources in a writer who will provide you with “evergreen” content that has longevity and can be used over and over is a smarter choice. Consider all the variables, from the writer perspective and yours, and then make a decision based on value, or ROI.

Posted in: Operations