Translation Jobs: Turn New Customers into Repeat Customers
The eventual goal is to transform new customers into returning customers. To accomplish this, you must first and foremost provide excellent translation services and a wonderful product. Then you must distinguish yourself. Create a pricing strategy that is relevant to you as well as the client.
For example, when a customer sends a website translation, inquire whether the site will require ongoing updates and changes just after the original translation. If so, consider charging the customer a flat fee for all updates following the initial translation. Your customer will be able to easily allocate funds for it this way.
Don’t really set the flat rate too low because you may not know how many updates you will receive at first. Consider including a line in your price quote that states you retain the right to revisit this pricing structure after the initial month or another realistic time period.
Customers appreciate flat fees even though they do not need to negotiate a new one with you each time, saving people time and money. One alternative is to start charging a fixed amount for your time, such as $5 per hour of translation services. This way, a client can
send you short pieces of data and you can simply keep track of how long it takes to translate them. This is an outstanding way to add value to your clients by assisting them in lowering their costs.
While it is generally not sensible to negotiate the cost for every unit (or mins, or line), you may have to offer a customized rate to entice a customer to become a repeat customer. Long-term repeat customers are fantastic because it allows you to forecast your earnings more. Many prospective customers will simply state that you will have a lot of business in the near future, whether or not this is true. Some prospects may say this just to get a cheaper price, so treat it with a pinch of salt.
Even if one’s rates are so high, you can be equitably certain that your prices as a small company are significantly lower than those of larger corporations. The main reason for this is that larger companies must account for significant overhead costs such as rent, utility companies, salaries, and so on. Whereas these costs are not billed straight to the prospective customer, a large company must account for all of them when quoting on a project, particularly salaries. Most of you only have to deal with your own payroll.
You could notify your potential client of your pricing policy and plan, as well as the fact that you are a small company, but that due to the recommendation of your current customer, users will make a special exception and disclaim the initial deposit. Remember to get the
user’s confirmation on your cost estimate, which should state clearly your payment terms.
The customer agrees to your payment plans by signing the quote.
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