New Pricing Options Means More Opportunities
Last week we announced that we are expanding the entry-level pricing tier, which gives you the opportunity to create projects under $100. We also shared that later this month you may see some non-broadcast voice over jobs posted with budgets of less than $100.
I wanted to share with you the key reason why we made this decision.
More Opportunities for You
Our research shows that the size of the market for jobs priced less than $100 USD is over $250M annually—that’s a lot of work that’s getting done somewhere. We don’t want you to miss out on any of these opportunities.
Additionally, when surveyed, 30% of our clients say that from time to time they have small jobs budgeted less than $100 that they don’t post on Voices because of our minimum. We want to help those clients find great talent, regardless of the size and scope of their job.
We’d like you to have the opportunity to build relationships with clients who have smaller jobs—as well as the chance to deepen your relationships with clients we already have by being able to meet all their needs with this change.
How You Can Take Advantage of This
If you’d like to, you can now create project listings starting under $100. Why? Because we know that clients often have small, short projects, particularly for non-broadcast voice over. As a result, you’re now able to set lower prices where it makes sense to, in order to meet the needs of clients who are budget conscious but still have meaningful work to be done.
We’ve already seen many of you editing your existing projects to offer some of your services at attractive entry price points. This will open your business up to global opportunities.
Later this month, we’ll broaden the budget range of $100 to $249 on our platform to allow for posted jobs under $100. We want clients to come to talent on Voices with these opportunities, rather than going elsewhere. That way, you have the chance to either provide a quote you feel is right for the work, or to pass on the opportunity if it’s not right for you.
Over the last few days, we’ve received questions along these themes:
Question: The new budget range you mentioned in the email is $5 to $249—does that mean we’re going to start seeing voice over jobs posted for $5?
No. The new budget range is only for non-broadcast jobs. Near the end of September, you may see jobs with a budget range of $5 to $249 or a fixed budget under $100, but it’s always up to you to provide an appropriate quote for the work that’s being requested. Currently, a client may post a job in the $100 to $249 range but still choose to hire from among the higher quotes.
Reflecting on our research, time and time again the criteria that clients use to make a hiring decision is first and foremost the quality of the voice.
Our data supports this, as one-third of jobs on Voices are hired over the posted budget. Many of you know this and often quote $500 on a job with a stated budget of $100 to 249—and still win the job.
For that rare client who has a very limited budget and price is their priority, they’ll select a talent who is the best within their budget, but the majority of clients come to Voices because of the professional talent and are willing to pay for quality.
Question: How does Voices educate clients on industry standard rates for voice over work?
In the final step of the job posting process, we recommended a budget to clients based on similar jobs that have been successfully completed on Voices. This recommendation also takes into account budget trends and the client’s account data such as previous job pricing and response history. Job details that impact the recommended price are: The category of work, the duration of the project, and word count.
If a client chooses a range below the one that is recommended, we let them know the benefits of pricing higher.
Question: How will you ensure it’s not a race to the bottom on the Voices platform?
You’ve likely heard me say that our guiding philosophy is “our business is based on shared success”. This means that the more successful you are, the better we do too.
We truly believe this and it guides our decision making. Knowing we have everyone’s best interests at heart, you’ll see how enabling projects and jobs under $100 will provide you with more opportunities to work and win more clients.
We know that clients who post jobs under $100 also have an equal need for work priced over $100. Additionally, these clients tend to post more often. That’s good news.
As you’ve always done (and we’ve always advised), quote what you think is right for the work being requested. Allowing for jobs under $100 does not change this. We simply want to present you with as many opportunities as possible—even if the client has a lower budget—and leave it up to you to respond as you see fit.
Three Commitments from Me
- CEO Advisory Group
I have established an advisory group to discuss strategic matters and gain insight from influential talent within the community.
- Willingness to Explain Why
I will continue to connect with our community through webinars, videos, podcasts, and here on this blog, going deeper by providing context, sharing options and alternatives, and explaining why we landed on a final decision.
- Acknowledge Mistakes and Course Correct When Need Be
As an entrepreneur, I recognize that I live and operate in a world full of complexity and ambiguity. It’s impossible to always perfectly predict the outcome of your decisions. Despite gathering all the research and conducting interviews, there are still going to be times when the reality that transpires fails to meet the potential of what you expected. Those who know me know that I will acknowledge the shortcomings and course correct when needed. Hopefully this message is received in kind.
I hope this helps to address your main concerns and give you some clarity. We are in the business of shared success, and we want to bring you as much work as we can and let you take it from there.
If you have any other thoughts or questions, please reach out to [email protected] and we’ll ensure they are heard and answered.