Project Based Pricing Model – Is it Ideal for your Business?Virtual Assistant Engage
Project based pricing is a payment model offered to clients for a specified assignment. When the project details are clearly defined, the pricing model is preferred. For instance, if you’re a virtual assistant agency, you may charge a flat rate for providing website content or setting up appointments for your clients.
This simple pricing model works well for service providers that want to invoice their clients based on their expertise rather than time. However, for clients, it guarantees project completion that has no to little room for error.
Seeing that it requires both project requirements and cost to be locked well before the project is initiated, clients are always free to disengage if they do not like what is being presented to them. This is because they get to know what they’ll be getting into and at what rate during the early stages of negotiations.
Upon receiving your project specification along with its designated time window, our accounts managers immediately get to work to decide how much skilled resources would be needed to complete your project. After factoring in the scope of your work and the specified time-frame, our finance teams then generate a reasonable figure to cover all associated project fees.
Keep in mind shorter time windows may consequently warrant an increase in the prices you end up paying as our competent in-house teams will be spending more time on your work. To that end, we always make sure that your business would not incur any additional charges and that we solidly remain true to our policy.
When To Go For A Project Based Pricing Model
You can choose this pricing structure when your project falls under any of these criteria.
Limited flexibility: If your project falls under this criterion, then adapting a project based pricing model makes perfect sense.
Resource control: you do not want to be involved directly with the resources need to get the job done.
Defining budget: you want to know how much it’s going to cost you in advance.
Clarity: you need to make sure that your project descriptions and specifics are relayed clearly.
Completion design and requirement: the work requirement and designs have been documented.
Agencies involved with clear deliverable such as logo, transcription work and content development.
Clients specializing in project of a technical nature such web or app development.
Agencies that can accurately determine how long a particular project will take to complete.
Our production cycle and project based pricing are closely tied together. This is in line with our business objective to providing transparent and continual accountability with every client engagement we have. Below we have outlined a few steps that can be taken to demonstrate just how we respond to this method as Virtual Assistant Engage.
Gathering the right information
At Virtual Assistant Engage, we’re constantly providing options to our clients so they can make proper decisions based on their monetary needs. We make this possible so clients can pick any plan that matches their needs before further committing to any of our 3-service plans we have listed on our website.
Once the right rate has been agreed upon, we waste no time as our experienced VA teams are instructed to begin work and ensure that the final end-product is to the client’s utmost satisfaction. In the end, a project based pricing structure is best for you if you will work with a service provider that understands your project and works hard to help you realize your objectives.