I constantly stumble upon music producers who sell their music production services for insanely low prices.
Recently I noticed a music producer offering a song mixing service for $5 per song.
Seeing that got me speechless..
Either, they try to attract as many potential customers as possible, or they have no idea how valuable their time and effort really is.
Let’s break it down.
Triple Your Working Hours
So, you agree to do a full song mix for $5. Let’s say you’re a fast worker and can do the mix in one hour. You value the service at $5/hour.
That’s already lower than a minimum wage at any fast-food restaurant!
But that’s not all… Mixing the song is only a part of the process.
In addition, you must also handle the customer service. There can be issues with the audio files and you may need to assist the customer to send you the files you need properly.
On top of that, it’s likely that the customer will also request several revisions of the mix. After all, the customer should be satisfied with the end result.
Do you still think everything can be done in one hour?
You can easily triple the time. For work that you thought will take an hour is now three hours. Your wage just dropped to $1,6/hour.
You Have A Special Skill
Any music production service you offer is extraordinary.
You have spent years of time and thousands of dollars into mastering your craft. You have acquired a skill that 99% of the population don’t even understand.
Why would you agree to a wage that’s lower than any 9-to-5 workers?
It’s true that in the beginning of your career you should do as many projects as possible to get experience. You should even work for free to some extent. But, it’s important to realize when your service and time becomes so valuable and desirable you have to start charging more money.
Too Low Price Is Not Professional
Competing with nothing but prices is always risky. There’s always someone who can afford to charge less, or nothing. Pricing your service too low has two major downsides:
1. You may not look like a professional.
A professional music producer acknowledges the value of their skill, knowledge and time. They are not afraid to put a higher price tag on their service because they know it’s worth it. Pricing their service higher is also a way to acquire high-end customers.
2. You attract certain type of customers.
In my experience, the most difficult and time-consuming customers have been the ones that pay the least, or are not willing to pay at all. Do you really want to attract those customers with your prices?
Understand the value of your service. Constantly adjust the prices. Don’t be afraid to ask more. If a customer really wants your service, they will either pay what you ask or haggle the price down to fit their budget. If you really want to make music production as your full-time job, you have to price your service wisely.