Commencing a virtual assistant enterprise involves numerous choices and one of those important decisions is likely to be, “What should be the pricing strategy for my virtual assistant services?”
A lot if questions fog up our mind, such as, is it more advantageous to provide virtual assistant packages for a monthly fee, project-based pricing, or should I strictly adhere to the hourly pricing model?
In this article, we will try to dissect and compare the prevalent pricing models those are often used to determine the cost of your services when establishing your virtual assistant pricing.
We will also delve into the fundamental aspects of each virtual assistant pricing model while analyzing their respective advantages as well as disadvantages. This provides the guidance on the criteria you can consider to determine which approach, whether virtual assistant project packages or hourly pricing, suits your needs the best!
What Do You Actually Mean By Virtual Assistant Packages?
Virtual assistant packages represent a widely adopted approach for pricing services among virtual assistants and freelancers. Typically, when offering a range of services or multiple specialized services to clients, virtual assistants create packaged bundles of services to present in their portfolio. The pricing for these packages is usually pre-established, and it is based on either the deliverables included or a set number of hours.
Varieties Of Virtual Assistant Service Packages
Now, as it is being mentioned, there are various categories of virtual assistant packages that you can easily establish and present to the potential clients with demanding pricing and offerings.
In this category, you represent a set number of working hours in an entire month.
Project Based Deals
Meanwhile, in this category, instead of hours, client and virtual assistant decide the number of deliverables within a single month.
A single-project package involves delivering a predefined set of outcomes to the client, often not on a recurring basis but leaving room for potential return engagements for further assistance.
This represents a single handed package that us usually designed to be fulfilled and delivered to the client within a single day. Such kind of package is not a recurring one also its services are often priced slightly higher. This pricing strategy is how many businesswomen in the LFA, also known as Ladies First Academy, elevate their businesses to a premium pricing level.
On the very other end, there are two basic ways through which you can nominate a package for yourself. That includes
In the case of a project-based package, you will be set on a fixed as well as a predetermined fee for the specific deliverable. It remains consistent and efficient regardless of the time it takes to complete the work.
Secondly, hourly pricing involves charging your client a fixed hourly rate as a virtual assistant. Here, clients purchase a package of hours from you. For instance, you might provide 30 hours of work and charge a set rate of 30 dollars per hour for that 30-hour package each month. Typically, it is beneficial to offer packages with options like 10, 20, and 30 hours per month to cater to varying client needs.