Bidding on the Project

Sometimes a slightly uncomfortable part of the process, wether it’s audio or any other business project, is the bid. What are you worth? How do you compare your prices with others in a similar marketplace? Are you afraid of being too expensive and losing the bid to a lower bid? These are all legit questions that creep in when we are presenting a bid for our services. My strategy has changed over the years. When I was newer and less experienced, I would always strive to be the cheapest in order to get the job. I usually got them, and ended up putting in a ton of work and ultimately getting paid very little. As my level of experience and skill developed, my prices went up, and that trend continues to this day. I still bid for projects within the framework of market value, but I am now leaning toward the higher side, despite “the economy”. Our tendency is to think that “getting the job:”is more important than losing it to a lower bid, but I no longer feel this way. What I’ve found is that I need to find the client that understands my value, experience, and high level of service. I always over-deliver and bring my work in on time or sooner. My level of experience and client history clearly demonstrates that I can work on a large pr small scale, and always live up to and often exceed client expectations. So even if my rates are higher than others, and I lose some clients who are price-shopping, that’s ok because the clients that do hire me are willing to pay the higher price to get a better and more experienced service. It’s what I refer to as “natural rolloff”. You will lose a few clients but you will command higher dollar for your service, and the higher price equates to better product. If you’re newer in the industry then you are wise to take the lower price route until you have developed your skills and clientele to the point that you can get higher payment for your service. Remember, there is implied value in your brand - if you’ve developed your brand and are dependable, you can get to the point where you SHOULD be charging a higher price.