Ever come across a piece of visual content on the Internet that grabbed your attention, but the asking price for that content was astronomical?
I bet you have.
What would you do in that circumstance? Are you willing to pay a higher price for that visual content? Will you try to negotiate? Or will you choose a freelancer with the lowest price?
Well, like the saying goes, “You get what you pay for.” The same applies in the marketplace for graphic designs. For instance, the price of the most common designs like an Infographic with modest data points may cost you from as cheap as $5 to as expensive as $1500.
And usually, the price of digital art is determined after considering multiple factors like competition, competitor’s price, urgency, quality expectation, volume, the deadline for the project, and many more factor.
Wow! You might be thinking, “What’s the difference between a $5 Infographic to a $1500 one?”
It’s the quality of the designs and the status of your brand. A formidable brand/ personality will invest thousands of dollars into visual content because high-quality designs will foster a belief that it’s from a trusted source and further increase the buyer’s trust.
In this volatile world, the average attention span of an individual is reducing every day as we speak. And marketers who have discovered this fact are harnessing the power of visuals in their content marketing to get more impressions and conversions.
With over 1.5 billion pieces of content every single day, the website with quality visual content always wins over a standalone website with a simple manuscript and poor quality images. Graphic Design has become a vital organ in digital marketing. In very little time you can basically communicate your entire business model, sell your product, and leave a long-lasting impression on your investors with the power of visuals.
Having served over 3,000 clients in every industry, with different needs, and budgets, I can personally walk you through the different options, pricing, and the ways to use visual content in your marketing whether you have a high, medium, or low budget.
1.) Visual Content for a High Budget
Many people believe that graphic design is just about downloading a few templates and replacing them with the content. Well, the truth is far from it. Moreover, those templates are not customized to the guidelines and needs of the buyers. And as stated above, people are willing to pay $1500 for a simple customized infographic and as high as $10,000 for a piece of marketing visuals like Pitch decks.
Here’s the truth – When the value is clear then decisions are easy. Put it simply, when the value of the product outweighs the price of the product, then customers are more likely to buy anything from you.
So what is value? Value is a subjective term, it varies from business to business, situation to situation, and people to people.
For instance, A company is planning to raise $10 million on its next fundraising event. And it’s really looking forward to having a persuasive pitch deck. So that if someone were to see their presentation slides within minutes it should spark interests and communicate their idea very effectively. Here the value is clear and it certainly outweighs the price, even if your charge is above the par.
I can personally vouch for many of my clients, irrespective of their financial status, who are willing to pay over the market price. There are many reasons for that, but the common reason is when you can streamline their task of using your service more than anyone else.
But people who are just starting out or entered into marketing may not have that high-budget. And it’s also hard to justify paying those high prices for a piece of art without considering the ROI.
With that said, here are the few high-ticket clients or those who pay a high price for graphic designs;
1.) Content Marketers:
Mostly B2B Content Marketers, usually, they are agencies and companies. They usually have a long-term partner who will be catering to their design needs. And it’s not all about price, it’s about meeting their deadline and standards. So they are willing to pay higher to maintain the relationship.
2.) B2B Digital Marketers:
Small to Medium-sized marketers are usually the ones with a good budget and clientele. They usually hate futzing around for revisions, payment issues, the credibility of the designer and other factors, so they usually pay higher than a B2C client
3.) Customers who like doing business with you:
Humans like Humans. People like doing business with the person whom they trust and like. That shows the importance of building rapport with the client. So people are willing to pay more when their project is handled very professionally with a hassle-free process.
Being said that, if you have high expectations and a formidable brand, and you’re after the quality and timeliness of the work. Then reach out to high-end graphic design companies who can take over the entire design needs.
Can you negotiate with high-priced providers to lower their pricing?
Well, it depends on the terms of your offer. For instance, a provider offers 25 slide graphic designs for $1000, you really admire their work and want to use their service very badly. But if you are bootstrapping, then you can reduce your project size (slides) to 10-15 consolidated slides and pay lower rates.
2.) Visual Content for a Moderate Budget
Many players who have just entered the market and looking for moderate level design providers, then hiring an agency or top-rated freelancer on platforms like UpWork, Fiverr, Behance, Design Crowd, etc will save you some extra bucks which later can be allocated towards another aspect of marketing like Paid Ads, SEO, Influencer outreach, etc.
Freelancers come with the inherent trait of low-overhead as compared to hiring an onboard employee. There’s a fine line of difference between High-quality providers and the ones from the above freelance sites in terms of their system like credibilities, trust factor, experience, a number of revisions, Turn around time, payment flexibility, etc. There’s no doubt that some of the providers on those sites do offer almost the same level of quality as high-priced providers. But they usually accept projects of low or medium-sized, ad hoc basis.
Here are the few clients who come under the medium budget in my 10 years of experience:
- New Startups
- Mid-size one-time project seekers
- Small E-Commerce shop owners
- B2C clients ( Not intended to further sell the designs )
- Large companies who are testing out the services
- Businesses on Freelance sites ( For Hiring )
So if you are a medium price buyer, then the optimal choice would be to hire a Freelancer or a moderate-level agency on freelance platforms. Nowadays, those platforms are booming as our economy is transitioning from “Job-based” to “Skill-based”, you can easily find good talent. And depending on which platform you choose, buyers are 100% protected with a money-back guarantee, contracts, and incredible customer support.
Can you hire high-quality (high price) providers with a medium budget?
Yes, the truth is you need to compromise with the final output. You might have to settle for reduced benefits/ lower terms like limited rounds of revisions, decreased volume, and less flexibility in payments
3.) Visual Content for a Low-Budget
Sometimes, everything seems to be going well with the client. And you like their design portfolio, all the features they are offering are good and even they are compatible with your business models. And then you came to know that they are overpriced.
One should keep in mind that quality comes with high-price. Of course, you can find low-rate freelancers online who are willing to offer any designs, then you have to compromise on quality and risk using copyright or a template-based design, with no customization and poor structuring.
So for Price-buyers, it’s a numbers game to find the right providers for low prices. And your investment may not give you a serious ROI due to quality.
Here are the alternative for low-budget clients:
- Reduce the Scope of work and hire decent to moderate graphic design providers.
- Use professional tools like Envato Elements to download editable templates. They are Free for casual users for a very basic price of $16.5/ month. And you can edit it later using Adobe Illustrator, Powerpoint, Canva, etc. Change fonts, use your brand images, and change color to your brand guidelines
- Freelance sites like Fiverr and Peopleperhour, you can find a designer for a rate as low as $5.
For many years graphic design has been an important facet in digital marketing. And this has increased the number of graphic design providers in the industry. Because of the increased competition, new technology, and growing dissatisfaction in deliverables, the best in this industry will always charge far more than the average market rates. But as a buyer, you should always have a sense of expected returns from the use of any visuals in your marketing. If you already have a well-established and very formidable brand then choosing the best providers can help you to stand out from the abyss. But if you’re someone who’s just starting out then you should always have a number in your mind (estimated budget) before you talk to any agency or freelancer. And it’s always advised to have as many options, so you can choose the best provider according to your budget and other specific requirements.