Spark The Price is Right

By Heidi Trost

Who knew talking about pricing could be so fun? 

This month's Spark NYC "The Price is Right" event turned what can be the most painful part of a project into the theme of a raucous yet informative evening.

Hosts Marc S Levitt and Sheri L Koetting of MSLK, decked out in game show garb, and accompanied by a stellar collection of vintage TV themes and graphics, quizzed the group on how they would respond to a series of real-life project briefs. Participants wrote their bids down on slips of paper, the results were tallied, and the lovely Ms. Koetting would announce which price was right! Here are some things we found out along the way:

1. It cannot be overemphasized that design fees vary dramatically. Some designers were bidding as much as 4 times as much as others.

2. Pricing is anything but clear-cut. Design studios need to consider factors like whether the client is new or existing, or how many revisions are included in the project scope.

3. Don't forget to calculate your hourly rates and fees. Be prepared to discuss this with your client if they request an hourly breakdown or ask you to travel for a photo shoot.

4. Are you being realistic? You may require programmers or copywriters or you may be asked to educate the client in maintaining their blog or website--you need to reflect these extra components in your price.