• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Opinions Op-Eds

Why small business owners and freelancers adopt value-based pricing

Op-Ed Contributor by Op-Ed Contributor
January 28, 2021
in Op-Eds
Why small business owners and freelancers adopt value-based pricing
Share on FacebookShare on TwitterShare on Linkedin

Many small businesses and freelancers believe charging less helps them get more customers. Meanwhile, often times, the contrary is the case. It only gets them, cheap customers, with luxurious demand.

The real truth is people often attribute excellent service to high prices. And charging low will not help your business but make you drop out of the game. Many big celebrated brands like Apple, Gucci, Smart water, and others are famous today, not only because of the quality of their product but also their pricing.

Pricing is part of branding, and people who appreciate the value of your services are very aware of this. If people see the quality of your services, they will definitely forgo the price and go for it.

RelatedStories

Digital Nomad visa

Italy’s Digital Nomad visa enables foreigners reside, work as freelancers for 12 months renewable

April 7, 2024
Small Business

Nigerian banks’ 20% ‘interest margin’ hampers small businesses – Experts

April 6, 2024

What is value-based pricing?

Value-based pricing is a concept of establishing the price of a product or service based on the perceived value the product will offer to the consumers instead of the conventional Cost-plus pricing principle.

6 reasons you should adopt the price-value based pricing for your business

1. Branding

Pricing comes with branding. It is crucial you place a good price on your services to help people to see them. Naturally, people tend to attribute value to expensive things. We categorize the cheap ones as fake and call the expensive ones original.

And ironically, it often turns out as fact because the service provider adjusts themselves to this. If you want people to identify your service as something quality, you need to learn how to charge for it.

2. Quality Service

Delivering quality work requires time and effort at your end as a business owner. And Using a value-based principle helps you to be consistent in providing quality service to your customers. You understand your customer are willing to pay for the service; so far, they see the value in it. As such, you wouldn’t have any reason to compromise the quality of your products or services.

3. Save you from frustrated customers

I often tell small business owners that low customers are the most difficult people to serve. They demand far above what they are paying for and hardly get satisfied. Irrespective of the price you give them, they always feel cheated.

To avoid it, I strongly advise you to save yourself this headache and focus on the clients that know the value of your services. They know what they want, and they appreciate you for helping them achieve it.

4. Save you extra time

Why would you do a 5 hours job for $300 when you take an hour’s job for the same price and use the remaining 4 hours to rest or reinvest in yourself? There is no point chasing every prospect up and down. You can earn the money you want from 5 clients from only one client and even get a tip for a job well done! Yeah, it works! And in the long run, you will still earn more than your competition that sticks to the Cost-plus pricing.

5. Increase in Return on Investment

Charging a reasonable price for your services helps you increase your ROI. You will save yourself a lot of time from doing underpaid jobs to do other things that will fetch you more money. You are can even use the extra time to learn additional skills or reinvest in yourself to stand out.

6. Trust

Value-based pricing builds trust from excellent customers. Your customers understand you know the quality of the service they need, and you are confident in yourself that you can meet their expectations.

Conclusion

The philosophy behind this article comes from my personal experience as a freelance copywriter. Hence, it is no longer a theory but proven practical. Meanwhile, it is vital you also work on the quality of the service you will deliver to your clients.


About author

Taiwo Sotikare is an outstanding freelance copywriter and editor with over five years of experience. He has written hundreds of articles on Freelancing, Career Development, and Writing Tips. He is regular content creator at insight.ng and DigitalPud.com and be contacted via sotikaretaiwo@gmail.com.


Follow us for Breaking News and Market Intelligence.
Tags: freelancerspriceSmall businesses
Op-Ed Contributor

Op-Ed Contributor

Nairametrics frequently publishes articles from experts such as financial analysts, economists, researchers and investors. We also feature articles from guest writers and bloggers who wish to push their views and opinions through our platform. To get your articles on Nairametrics, kindly send an email to info@nairametrics.com and we will publish it within 24 hours of approval by our editorial team.

Related Posts

Digital Nomad visa
Business News

Italy’s Digital Nomad visa enables foreigners reside, work as freelancers for 12 months renewable

April 7, 2024
Small Business
Exclusives

Nigerian banks’ 20% ‘interest margin’ hampers small businesses – Experts

April 6, 2024
Small businesses, AI
Sectors

10 ways small businesses can leverage AI for efficiency

February 4, 2024
World Bank
Business News

Freelancers constitute up to 12% of global workforce – World Bank

September 13, 2023
Twitter ,Elon Musk, Twitter restrictions
Sectors

Twitter to lower verification fees for small businesses- Elon Musk

May 8, 2023
How fuel scarcity is biting hard on small businesses in Abuja
Business

How fuel scarcity is biting hard on small businesses in Abuja

April 1, 2022
Next Post
Top 10 Nigerian banks by Account Maintenance Income

Nigerian banks issued N774.28 billion new loans in December 2020

Comments 2

  1. Promise udondon says:
    January 28, 2021 at 7:54 pm

    God bless you for this write up.
    I am a Chef trying to do things different from others but people keep saying I should reduce my price so customers would come but the quality I deliver is what u may not get from some of the most expensive restaurant around. But I believe that God will bring people that appreciate quality and also ready to pay for it.

    Reply
  2. Taiwo Sotikare says:
    August 6, 2021 at 6:24 pm

    You are welcome, Promise. It is important you note that people still complain about the cheapest product in the market. Either based on the price or the quality of the product or services.

    Rather than yielding to this voice, this essential thing is you should know who your audience is. That is what matters. Know who you are serving…. And you will always enjoy the fact that you charge for the value you are giving

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Palmpay

first bank








DUNS

Recent News

  • Borno Government to open 400-bed hospital in September, targets medical tourism and job creation
  • NOVA seeks to change operating license from National to Regional bank
  • 2025 WAEC: Only 38.32% pass English, Mathematics with five credits

Follow us on social media:

Recent News

Borno Govt halts fuel sales in Bama, Banki to cut off supplies to insurgents 

Borno Government to open 400-bed hospital in September, targets medical tourism and job creation

August 5, 2025
NOVA seeks to change operating license from National to Regional bank

NOVA seeks to change operating license from National to Regional bank

August 5, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics