What problem are you solving for your clients?

Depending on the length of the script..ie. 5 minutes vs. 1 hour...some narrators charge a flat fee for the first hour (about $250hr depending on your demographic area) with incremental fees for any time over the estimated amount. Of course a 1 hour long course script may take the narrator 2 hours to narrate into final form. I've been producing videos for years and you can easily spend a half hour on a 30 second script.

In the training/e-learning/corporate market you should pay your VO person at least $250 for the first hour, more if a special talent is required. That's just for voicing, mind you. I also have my own home studio (where I also do work for broadcast) and I don't think it's unreasonable for such VO folks to charge something for the post-production and file management activities. At that point you're asking for someone who can voice AND edit. Two services, two charges. Not everyone can do that.

Since this became a general discussion on rate structures, I thought I would chime in that another method exists. You can take a look at the Narrator Files (www.narratorfiles.com). The rate structure is based on a flat $20 per-page fee, the talent is professional and turnaround is 2-3 business days.

I've found it best to determine the finished number of minutes of narration by taking the number of words divided by 160, which is the average rate of narration words per minute.

To calculate finished minutes, I divide the script words by 170wpm. The rate per finished minute for the talents range from $10 to $50 depending on their skill and popularity. The session minimum is generally either $150 or $300 -- as requested by the talent to accommodate their studio and/or editing fees. Most have a home studio and are non-union.

An experienced studio with a proven, accurate/productive narrator and engineer will often charge about $200-350 for an hour of finished, edited, professional audio.

It varies according to the project itself, however I usually charge 250 USD for the first hour, 240USD for the second hour, counting down goes till the minimum charge 150USD/H, this is the pricing structure for Arabic voice over in a very professional studio, a professional presenter and voice engineer.

<h2><em>eLearning, ESL, How-To-Video, Tutorial . . . </em></h2> <p>Much of this work is long-form and/or on-going work. Therefore clients in this category often pay less than other types of narration. Since recording times tend to be lengthy for this type of work, we encourage you to charge per hour.</p> <h3>"PER HOUR" RATES</h3> <ul class="square"> <li>$50 to $300</li> </ul> <h3>NOTES</h3> <ul class="square"> <li>Be sure to set a 1-hour minimum</li> <li>After the first hour charge in ¼-hour increments</li> <li>Consider offering a lower "bulk rate" If a client hires you for an on-going project (you're guaranteed a new script once a month, once a week, etc.).</li></ul>

Beginning relationships with customers at a high price makes the statement: “we’re good at what we do and we know it.” Fighting with a competitor over a low price says “I’m uncertain about my abilities, so I’ll take what I can get.”

<strong>Price by the service, not by the hour</strong>.

<strong>Slow down your sales process</strong>. Slow down how, when, and who you take on as clients. You need time to determine a client’s needs before you price their projects. You must know what outcomes they desire.

<strong>Inject value into your client’s experience with your service.</strong>

Establish a client intake process

<p>Here are three things you can do now to get started on your journey toward strategic pricing:</p> <ul> <li>Develop your new client intake process, similar to the example above. Add the various steps that you feel are valuable and walk your clients through it BEFORE you begin your work.</li> <li>Begin offering three options to all of your work. And always include things in your options the client did NOT ask for. When you start selling things your client didn’t ask for, you will be surprised at how many clients choose the higher options. You will make more money and the client will get more of what they want.</li> <li>Test your pricing, but don’t benchmark! To know what your market will bear, begin pricing higher than you have been in the past just to test your market. And avoid benchmarking—which is the process of looking at what your market or direct competitors price their services at. Remember, your competition may be pricing non-strategically as well. Don’t follow the blind. Strategic pricers don’t follow, they lead!</li></ul>

1. Find your focus.

2. Save some money first.

3. Set up an online base of operations.

<strong>4. Create an online portfolio.</strong>

5. Track your time.