If you’re a graphic designer or artist, you’ll often need to set prices for online banner design in addition to other design projects. However, you might not always know exactly how much to charge. There are many factors you should consider, including how much time and effort the design will take and your experience.
To charge for an online banner design, consider whether you want to charge hourly or a fixed rate for the design and how experienced you are. Most freelancers make between $10 and $600 for a single banner. You always want to charge for your time, so never go below a set amount.
There are many aspects to consider when pricing your design, so I made sure to break them down in this article. By the end of this piece, you’ll know exactly how much to charge for your digital banners. Let’s get started!
How to Price Online Banner Designs
When setting your digital banner prices, you need to consider four main factors. These include:
- Your experience level
- The scope of the project (including how long it will take and the difficulty level)
- The project’s value
- Other expenses that come from your pocket
You’ll want to consider how much you’ll charge very carefully. You’ll also want to familiarize yourself with other designers’ rates in your area.
Your experience and situation will change over time, so don’t hesitate to change your pricing models with them.
Your Experience Level
Your experience level should have the most impact on how much you charge for your banner. If you’re still a beginner, you won’t want to charge as much as an expert in the field. Potential clients will notice and look for a different designer.
The more experience you gain, the more money you can charge. Most beginners charge about $20 to $30 per hour, so $25 is usually the perfect starting point for most people. However, you should move to per-project pricing as you become more experienced.
You should use this time to build a strong design portfolio. Having more banner samples to choose from will help attract more clients.
The Project’s Scope
Next, you need to consider the scope of the project. Not every project will take the same amount of time to complete. You’ll want to make sure you get paid for your work, so complex banners such as video banners, should always cost more than simple ones.
Some projects require multiple meetings, tasks, and deliverables. If you expect you’ll have to put in a lot of time to finish the banner, then charge extra. You won’t need to do this if the banner is a simple, one-time task.
Make sure you consider the project’s scope, whether you charge hourly or per project. It’s best to be upfront with your client about the price so they aren’t surprised later.
The Project’s Value
Many new designers forget to consider the value of the project. Adding this factor into your pricing ensures you’re paid for your skills. If you suspect the banner will help the client make money, you’ll want to charge slightly more.
For example, you might charge more for a business advertisement banner than a social media banner. The business banner’s main goal is to attract customers, earning the brand more income. On the other hand, a social media design, such as a YouTube banner, is there to help someone gain a larger following.
This also includes any other services that you offer the client. For instance, you may include brand strategies together with the banner or adjustments to their website. You’ll want to charge a higher rate for the additional work.
Whether your clients come from small businesses or huge corporations, they’re ordering the digital banner because it means something to them. You want to charge a rate that’s fair to you, so don’t undersell your work’s value.
Any Other Expenses
Finally, you don’t want to pay out of your pocket while making the design. Make sure you consider any other charges you’ll expect during the creation process. You probably have to pay for a subscription to the software you use to create the banner. Other expenses include access to stock images and your design equipment.
Plus, if you’re a freelancer, you need to cover your insurance costs. You should always factor those expenses into your hourly rate, so you know that you can afford everything you need.
Some projects do require more materials than others. These elements should fall under the project scope, although there will be instances when unexpected costs come up.
Hourly VS Fixed-Rate Pricing
Before you make the banner, you need to decide whether to charge per hour for your banner or have a preset rate. Most of the time, hourly rates are easier to figure out, and you get paid for all of your time.
However, hourly pay doesn’t consider the value of the project as much as fixed-rate pricing does. Because of this, many experienced designers charge per project. They also can complete the banner faster than new designers and still have it look outstanding.
Overall, you’ll want to choose the payment model you’re most comfortable with. It’s not uncommon for designers to switch between charging per hour and per project, depending on the scope of the banner.
This short YouTube video explains the differences between these two forms of pay and how to choose the one that suits you best:
To summarize, you’ll first want to decide if you’re going to charge hourly or a fixed rate. Think about how much time and effort the project will take—you will want to charge extra for complex or complicated projects. Lastly, you’ll also need to consider your experience.
As a designer, you can set your own prices. However, you’ll need to be careful not to under or overcharge your work. That way, you can keep clients for the long term without making sacrifices on your end. The more design work you do, the better feel you’ll get for setting your prices.