It can be tough to determine what the right pricing option is for your brand’s graphic design needs. Hourly rates? Flat rates? Graphic Design Retainer? It all feels so arbitrary. But there is a method to this madness, and you’re in luck because we’re going to walk you through it.
What’s the Difference Between Hourly, Fixed, and Graphic Design Retainer Rates?
When it comes to graphic design rates, there are three main types: hourly, fixed, and retainer. So what’s the difference between them?
Hourly rates are just what they sound like—you’re paid for every hour that you work. This is a good option if you’re not sure how long a project will take, or if you want the flexibility to work on other projects in the meantime.
Fixed rates give you a set price for the entire project, regardless of how long it takes. This can be helpful if you have a clear idea of what the project will entail and you want to avoid any surprises along the way. It can also be helpful if you’re working on a tight budget.
Retainer rates are a type of fixed rate, but with a twist. Rather than paying for each individual project, you pay a monthly or quarterly fee to reserve your designer’s time. This is a good option if you need regular design work done or if you have a long-term project in mind.
Which one should you choose?
That depends on what’s important to you.
• Hourly rates are great if you need flexibility or if the scope of the project is unclear.
• Fixed rates are great if you need predictability in your budget or if you have a clear idea of what you want to be done.
• Retainers are great if you want stability in your costs or if you need a lot of design work done on an ongoing basis.
What to Consider When Choosing Hourly vs Fixed vs Graphic Design Retainer
When choosing your graphic design payment setup, you’ll need to consider a lot of factors. What amount do you feel comfortable investing in for your brand’s graphic design needs? How much design work do you need each month?
Hourly rates are great for short-term projects or for clients who need sporadic design work. If you’re not comfortable with committing to a project for a long period of time, then an hourly rate may be the way to go. It also allows clients the flexibility to use your services as needed without having to worry about upfront costs.
However, fixed rates tend to be more popular with agencies and businesses that need more stability in their expenses. It also gives clients peace of mind knowing that they’re paying for a specific number of hours, which can be helpful when budgeting.
Retainer rates are perfect for long-term projects or for clients who need consistent graphic design support. This option lets you commit to a certain number of hours each month, and it guarantees that you’ll have work coming in regularly. It’s also a great way to attract new clients and lock in those valuable long-term relationships.
Benefits of Using a Graphic Design Retainer Rate Over an Hourly or Fixed Rate
- It allows you to budget for your graphic design needs. With a retainer, you’re paying for a predetermined number of hours each month, which means you won’t overspend on your graphic design budget.
- Retainer set-up ensures you have access to a designer when you need it. When your business is in high demand and you need design support STAT, it’s reassuring to know that you have a designer already on retainer who is available to help.
- Establishing a long-term relationship with the designer is hard to do and find. Once you’ve found the one you trust and gel well with, it’s important to keep that relationship going. Using a retainer helps cement that bond and allows both parties to grow together.
Conclusion
When it comes to deciding what’s right for you, it’s important to weigh the pros and cons of each option.
Hourly rates are great because they offer flexibility and can be more cost-effective for smaller projects. However, they can also be less predictable and can add up quickly if you need a lot of design work done.
Fixed rates are a good choice if you need a more reliable estimate for your budget, and they can be a good option for longer projects. However, they can be less flexible than hourly rates and can be more expensive for smaller projects.
Retainer rates are a good option if you need regular design work done and want to lock in a lower price. However, they can be less flexible than hourly rates and can be more expensive for smaller projects.
Interested in having this kind of setup? Check Pugo’s graphic design retainer packages here.
In the end, the best option for you will depend on your specific needs and budget. Talk to us to see what’s the best option for you.