Tried a new way to set my rates and it backfired hard

I read about value based pricing and thought I'd try it with a new project last month. Instead of my usual hourly rate, I gave a flat quote of $2,500 based on the results I thought the client would get. They came back and said they could get the same work done for $800 from someone else. I lost the job and felt like an idiot. I learned that you can't just jump into that style without building up the trust and proof first. Has anyone else tried switching their pricing model and had it go wrong? How did you fix it?

2 comments

2 Comments

hill.hugo2d ago

Value pricing needs a track record to back it up first.

the_robin2d ago

But like, what even counts as a track record? Feels like people just say that to avoid trying something new.