Per-project fees are better than per-word
If you're a freelance content writer, you should consider pricing per-project rather than per-word. Pricing per-word is less stable and doesn't take into account additional work. For example, it's easier for a writer to estimate time on a project based on a 700-word post, but if you include additional work, you'll end up paying more for the entire project. To estimate time, make a list of all the tasks you'll be doing and adjust the fees accordingly.
Another advantage of per-project fees is that it's easier for a writer to produce short articles versus long articles. Short articles are easier to read and more rewarding to write. Per-word rates can lead to content churnalism. If a client limits the number of words they'd like, charging per-project fees will avoid that issue. Similarly, per-word rates are a ticket to content churnalism.
Experience level is correlated with rates
While experience level is highly correlated with rates for content writers, you should not just pay according to your experience; your rates should also match the quality of your writing. A survey by Make a Living Writing found that most content writers earn less than $20 per hour. Experienced writers can charge more because they are faster, more specialized, and can deliver a higher quality product. However, this doesn't mean that new writers cannot earn more.
For example, a lowball writer, Lowball Louie, charges about 10 cents per word and makes $20 an hour. Meanwhile, a Mid-Career writer, Maeve, has seven years of experience and has raised her rates to $40 per word and $60 an hour. The average rate is around the middle. Experienced writers earn more, but they must prove themselves and find clients who value their work.
Location shouldn't be a factor in rates
The cost of living in different regions of the world affects the wages of different writers. Therefore, companies hiring writers from such regions tend to pay their employees higher rates. However, freelance writers do not have to worry about the cost of living. In fact, they can work for any company from any place in the world and still receive a high rate. So, the question is how to differentiate between freelancers and employees?
When setting rates, it's important to know your own writing skills. How quickly you can produce the content you need will affect your rates. What is important is that you know how long you can complete each project before you increase or decrease your rates. It's also important to be honest with yourself. Trying to overestimate your writing skills will only lead to burnout. However, if the deadline is tight, you should increase your rates to compensate for the extra work.
Reasons to charge higher rates
One of the biggest problems with the freelance content writing business is that there is no industry standard for what to charge. This causes confusion for clients, as they may not have prior experience in publishing or blogging. They may also be unsure of what other outlets pay for similar content. So, they will often be willing to pay below the industry standard, or even pay a bit more than the market average. But, there are a few things that freelancers can do to ensure they get paid correctly.
Experience: Writers with more experience charge higher rates on average. However, years in an industry don't necessarily translate to quality, so you should interview the writer before setting the rate. It's important to note that not all content requires the same level of expertise, so it's important to find a niche where you're comfortable. By charging higher rates, you'll be able to maximize your hourly rate.