Knowing what freelance copywriters charge and what rates are standard can sometimes be tough, particularly if you have never dealt with them before. There are a wide range of factors you will want to consider when it comes to the cost of freelance writing.
As a result, you should do some research beforehand so you will be comfortable making payment arrangements that won’t hurt your business financially.
Different Freelance Writing Rates
In most cases, the first thing freelancers consider when deciding what to charge for their work is the current market rates. They are usually structured as follows:
- By the hour
- A flat rate
- Per project
- By the page
- Retainer for ongoing work
Most businesses seeking the services of a freelance writer will prefer to pay them a retainer or by the project if they are going to be with the company for some time.
Content providers, both online and offline, usually pay per word for any content they buy. When it comes to trade magazines, payment can either be charged at a flat rate or per word.
Technical, business, and marketing work is typically priced using an hourly rate or by the project.
As you can see, there are many options when it comes to paying freelance writers. The kind of content needed also plays a big role in pricing rates.
Kinds of Freelance Writing Work
As a business owner, you have to understand that there are different kinds of writing, and each one has its own earning potential. So before you hire someone, you must base the rates you are going to pay them partly on the kind of content you want produced.
Online writing like blogging, web content, SEO writing, and content mill work tend to require lower rates. While high quality, in-depth articles typically command a much more expensive rate.
Newspaper writing and other associated functions like copyediting and social media posts can demand a medium rate. However, you should note that in today’s highly technological world, newspapers are slowly becoming obsolete and are moving their content to online platforms, which is why many news companies are now turning to freelance writers to help them with content.
Marketing-related pieces, especially copy that is meant to convert, typically cost the most. This includes sales pages, ads, email content, press releases, and all other types of copywriting.
As a business owner who is looking to hire a copywriter for their copywriting services you should understand that content creation requires the person doing the work to have specific knowledge or a unique skill set that will help promote your company regardless of what they want to charge. Some of the more difficult topics to write on include medical, scientific, and technical writing. Content about both financial and health matters can also be quite expensive.
How Freelance Writers Set Their Writing Rates
Most freelance writers have an idea of how writing work is billed based on the different kinds of content required. With these figures in mind, they personalize their rates to match up with their own personal goals, skills, and experience.
The following are some of the factors they often look at when setting their rates:
1. How Much They Want to Make
Some freelance copywriters bill by project. However, before setting their rates, they do their best to include what they want to earn and how much work they want to do so that they can meet their targets.
For instance, if a writer wishes to work 20 hours a week for 50 weeks a year and earn $30,000, you will need to work out a schedule that pays them $60 per article. On their side, they must have the ability to complete an article in less than two hours. In some cases, you may be required to pay some sort of tax or provide a specialized healthcare plan if their contract requires it.
2. How Fast They Can Write
When setting their rates, most freelance copywriters consider the kinds of projects they will be asked to handle and how much time it will take them from start to finish. This means that if you want them to churn out web articles, social media content, or newsletters on a regular basis, you will have to discuss rates in terms of how fast they can write and deliver content.
In such a situation, the go-to payment arrangement will be based on an hourly rate. Some experienced writers charge $50 dollars for an hour of their time depending on what sort of content you want them to produce. Remember, the more difficult the subject matter, the more money they will ask for in order to meet deadlines.
3. What Do They Have to Offer?
Not all freelance writers have the same experience or can do a good job. Even from the very start, a writer must be well-versed in the industry in order to charge a higher rate than others. This could mean having a degree or some sort of certification, a large portfolio of content written for other sites, or having worked for a writing company with a proven track record.
As a business owner who wants to stay afloat and keep up with the competition, you have no choice but to hire a competent freelance writer to put your company out there. Just be sure you’re getting a good value for your money by understanding the common market rates charged by copywriters for different types of copy.