The Unpopular Opinion Series: Why Branding Designers Shouldn't Be Raising Their Prices
In the world of design, there's a notion that's been gaining momentum – the idea that branding designers should raise their prices. While this might sound like the logical step towards success, we're here to argue the unpopular opinion: perhaps branding designers shouldn't be so quick to hike up their rates. Before you scoff or brand us as heretics in the design world, hear us out. We've got some reasons that might just make you rethink the price tag on your next branding project.
The Law of Diminishing Returns
We've all heard of the law of diminishing returns, right? It's the idea that as you increase input (in this case, your price), the output (your earnings) starts to decrease. The moment you charge beyond what your clients can comfortably afford, you might be scaring away potential projects faster than a haunted house tour on Halloween.
Think about it – there's a sweet spot for pricing where you attract more clients and make a comfortable living. Once you cross that threshold, you risk pricing yourself out of the market. So, don't let your desire for bigger paychecks become the monster under your bed.
The Art vs. Commerce Debate
Designers, particularly those in branding, often wrestle with the art versus commerce debate. The more you focus on raising prices, the more you tip the scale toward commerce. Your work should be a creative expression first and a source of income second. When you prioritise money over artistic integrity, your work might lose the authenticity and passion that initially drew clients to you.
Remember, your clients come to you for your unique creative vision, not just because they need a logo or a brand identity. Don't let the pursuit of a higher income rob you of your artistic soul.
Client Retention vs. Client Acquisition
It's a lot easier (and cheaper) to retain existing clients than it is to find new ones. When you raise your prices significantly, you risk alienating loyal clients who have been with you from the beginning. Sure, you might secure a few high-paying projects, but at what cost? Losing the clients who have supported you over time might not be worth the extra cash.
Instead of constantly seeking new clients, focus on nurturing your existing relationships and delivering exceptional work. Happy clients are more likely to refer you to others, which can lead to organic growth without the need for a hefty price hike.
The Competitive Edge
Raising prices isn't the only way to succeed in the design industry. In fact, it's often a shortcut to stagnation. Instead of competing on price, consider competing on quality, innovation, and service. Being known as a designer who consistently delivers outstanding work and goes the extra mile for clients can set you apart in a crowded field.
By avoiding price wars, you can maintain a competitive edge without pricing yourself out of the market.
In conclusion, while it's tempting to join the chorus of those advocating for higher prices in the world of branding design, it's essential to take a step back and consider the implications. Charging exorbitant fees might seem like a shortcut to success, but it can lead to unintended consequences. The art of branding design is a delicate balance between creativity and commerce, and it's vital to approach pricing with caution.
Remember, success in this field is about more than just the bottom line. It's about creating meaningful, authentic brand identities that resonate with clients and their audiences. So, before you rush to raise your prices, take a moment to reflect on the value you bring to the table and the long-term impact it can have on your career.
