How to Build a Rate Calculator for your Custom Music Website
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Have you ever wondered how to build a rate calculator for your website let's...
have you ever wondered how to build a rate calculator for your website let's talk about it [Music] what's up guys this is Steven melon music composer for the screen helping you to build a music business that supports your family today we're talking about how to build a rate calculator for your music composer website so here I am on my website to go to the higher page you'll notice that we have a free instant quote now the purpose of this is you'll scroll down and there's just three little questions that you can answer in about ten seconds a client can instantly find out how much it's going to cost to hire me for custom music for their project so you'll notice that we have three different options 2d video game fantasy podcast and dramatic film and you'll notice how every time I change the button the total price at the bottom changes to reflect that and then as we slide how many minutes of custom music do you need and notice how that is
Changing on a curve every single time I change to different music amounts and...
changing on a curve every single time I change to different music amounts and then the final question how many business days Monday through Friday until you need to finish music so we have four different options there one to two days 3 to 5 days 6 to 14 days and 15 or more days you'll notice that if we put the slider on the lowest possible settings which is 1 minute of music and 15 or more days that the base price actually stays the same or relatively close to the same that way there's basically a fee for me to open up my session and start writing so if we set our slider to the lowest possible parameters which means one minute of custom music and 15 or more days you'll notice how there is a base price of $1,000 so that's more or less the price for me opening up my session and just writing something cuz it's gonna take a little bit more time to just create some things from scratch versus writing say
Two minutes of music for the same client which is why if I slide it to 2 you'll...
two minutes of music for the same client which is why if I slide it to 2 you'll notice how the price only increases and this to $1,300 because it's one session two minutes of music and it's not that much more time to do that many minutes of music and you can notice in the very top here under the rates explained section I state that all rates in the instant quote form below are on an exponential percentage curve based on industry averages per project type and combined with personal experience to get the most value for your budget I encourage you to hire for larger amounts of music and a longer timeframe a premium fee is added to small amounts of music and short time frames so the whole purpose behind this is my clients can look at my rate page and they can click through the buttons and within about 10 seconds they get a quote for how much is gonna cost to hire me for custom music why do you need a break calculator for your website well there's three reasons that really stand
Out to me and it really blows my mind that no other composers are using this...
out to me and it really blows my mind that no other composers are using this to their advantage number one having a rate calculator completely eliminates negotiations so what this means is if a client whether they're a first time client or a repeat client if they want to hire me then instead of having this long drawn-out email conversation or phone call that's super awkward and very scary I can just send them straight to this page and they can go through the little questions and they get them in actual answer they get a budget amount and it actually eliminates all the negotiations from the entire process because they now know exactly how much of it cost to hire me for that and it's crazy how little people actually can test me on this and ever since I added this calculator to my website one year ago no one and I really mean not one client has actually contested me on it and every single one of them have agreed the first time okay I guess that's how much it costs to have custom music troops even and then they
Hire me for that rate that crazy the second reason that you should have a...
hire me for that rate that crazy the second reason that you should have a rate calculator on your website is that it provides an easy frictionless direct to sale experience for your clients so what this means is as soon as your client wants to hire you they can literally go to your hire page push the three buttons and they now know exactly how much it is to hire you and then depending on how you set it up you can either have a contact me link which is where they can email you directly to give you all the specs or perhaps you want to be able bit fancier than me you can actually set up a pay now button so where they can literally push a button and their PayPal account or their stripe account will pay you directly and you'll have funds in your bank account that same day and then you can start working and maybe in that situation you want to prepare in advance by automating that experience by already setting out a bunch of questions that they can answer files that they need to upload directions and briefs that they need to give maybe reference tracks to help you
Out to actually start creating that process and that way the very next day...
out to actually start creating that process and that way the very next day you can actually deliver exactly what they need without even having to have that that contact the third reason why you should have a rate calculator on your website is because it clearly defines line item by line item exactly what your clients are getting for their money I can't express how essential this is to any business transaction because inevitably if you just throw out a random ballpark number when someone asks you how much do you cost to write music there's always gonna be some kind of backlash you're going to enter a negotiation phase and the danger behind this is usually the first number you toss out won't be the final number because the client is gonna want to counter with what they think you're worth and you go back and forth back and forth and best-case scenario you only get what you asked for and in most cases you'll have to get less and so what's so cool about having a line by line item
Where you can actually look at this rate calculator and determine okay it's gonna...
where you can actually look at this rate calculator and determine okay it's gonna take this long it's going to require this much amount of work and it's gonna be delivered on this date doing this completely clears up expectations it allows your client to get exactly what they want for the price that makes sense and they can complete the sale and move on so how do you build your own rate calculator for your website let's take a look for my website I am using you calc website for that is you calc dot Pro and you can create a free account where you can create your own calculators now the the strategy behind this is we need to create a formula that allows us to exponentially increase our prices based on the amount of work and the value of your work in the marketplace so you can certainly create your own calculator using your own formulas and using your own strategy but let me go behind the scenes of how I've created mine so within you calc dot pro I created a
New calculator and when I went inside you can click and drag any of these...
new calculator and when I went inside you can click and drag any of these items on the left and you can click them and drag them into your project and then you can edit the parameters so if we go into the formula button here you'll notice how it's a drop-down where each of these sections we have numbers and formulas on the left that we can type in so that we can get exactly the curve that we're looking for so for example over here in this B section I have the question project type and I have three different categories trudi video game fantasy podcast and dramatic film based on my experience in the video game industry I've recognized that the average rate is $500 to $1,500 per minute of finished music and so I went right in the middle and chose 700 as my baseline price that we will then be multiplying with the other formulas down below fantasy podcast actually have more money go figure
They usually have patreon accounts they usually have supporters and they have...
they usually have patreon accounts they usually have supporters and they have producers people who raise money and so fantasy podcasters we have a bit more money than films and video games and so the average for that it's a little higher so I put 850 per minute of music and then dramatic films usually have less money but longer time frames the last one here is dramatic films and you'll notice that I have a lower rate for that based on my experience indie films usually have lower budget and the other categories and so I put 600 per minute they're usually filmmakers love to hire composers for the entire film so they're going to work with you for a large amount of music sometimes 30 minutes 40 minutes 15 minutes and up and so that's a larger contract so it makes sense that you'd put a lower base rate there that way when we multiply out it doesn't turn to an outrageous number for them the next category here is how many minutes of custom music do you need so for here I'm just entering a value to start the slider at and to end the slider so I put
One minute of music to 30 minutes of music so I know from my experience that...
one minute of music to 30 minutes of music so I know from my experience that the fastest that I can output music in one to two days is about 30 minutes of music that's a lot of music that's not even what I can personally do in order to do that I have to hire assistants and I have to write the themes and get all the assets and the resources out have those communications with the team and so for me that's my limit it would not make any sense for me to put 45 minutes or an hour of music on that slider because it's unrealistic and so you've got to know your own limitations so if you're just starting out I wouldn't put a super large number you might want to put five or ten because you have to be realistic about this final category of how many business days is gonna take you until you have finished music gotta have realistic parameters on there that makes sense for you and your lifestyle in this last section I have four different date ranges that I put and that is the final
Delivery of music so I put 1 to 2 days 3 to 5 days 6 to 14 days and 15 or more...
delivery of music so I put 1 to 2 days 3 to 5 days 6 to 14 days and 15 or more days now I will say that most people hire me for the 15 plus days range which I actually enjoy I think that's smart it's it's that makes the most sense because it's gonna be the least amount of money for the client and for me it allows me to time to schedule it into my calendar however if we go to something like one to two days notice how in my formula here I put a triple three times multiplier to reflect the premium fee associated with that speed because what that literally means is I have to drop all of my other projects and I have to get work on this right now and I have to make sure this is done either today or tomorrow that's a ton of work and that's a kind of a rush fee so that's a three times multiplier there three to five days if similar I put that as a two times multiplier six to 14 days
Is a 1.
is a 1.4 I found that to be a nice average between those and then 15 or more days it's gonna be the normal rate it's a one to one ratio so that's why that's a number one there so over here on the left side you'll notice I just have one some calculator so they'd say your price and that is the number that's gonna appear down here so you'll notice over here on the left side we have the final price calculator so this your price equals formula is reflected down here at the bottom of the calculator or says your price and the sum the total and so in the formula tab we can adjust this however we like that makes sense for you so notice I have B which is project type plus C how many minutes of music times 300 and then that total times D which is the number of business days so in order to make this realistic for me you'll notice how each of these
Parameters is really working to be on an exponential curve that's why this 300 is...
parameters is really working to be on an exponential curve that's why this 300 is there and you can play on these numbers however you like and ultimately I recommend that you test it out so I can go to my slider here I can go to fantasy podcast I can go to 15 minutes of music and if they someone expects me to write 15 minutes of music and one to two days you better believe $16,000 is a very fair rate because I can't do that by myself I'm gonna have to hire around help to do that and that's gonna be a very intense two days so that risk and speed really is reflected in the price versus going down to 15 plus days it's a dramatic difference remember how that was a three times multiplier and so that base rate is actually five thousand three hundred fifty which makes a whole lot more sense because realistically people don't usually hire you within two weeks to finish a ton of music they'll usually give you more like a month just kind of depends on the project you're working on the calculator that I'm using
Is built fun.
is built fun.you calc and you can certainly do this completely free and you'll notice on the pricing chart here that the free version really does allow you to do a ton of things however if you wanted to upgrade to the basic version it's only three dollars and 20 cents a month or you can buy it once forever for ninety bucks and what this allows you to do is to integrate payments and that might be a huge feature for a lot of you that basic service is going to be a huge huge deal for those of you who want automatic payments so what that means is a prospective client goes to your website they go through the sliders and they input the information they get that total amount that it's gonna cost them to hire you and then there's a button that allows them to pay now if you do decide to upgrade to the basic plan or higher then I would really appreciate it if you want to support my channel here by using the affiliate link in the description below that supports meat at no additional cost to you and I hope that is a very useful feature for you how do you come up with your own
Formulas for the calculator well as I described earlier the curves that I want...
formulas for the calculator well as I described earlier the curves that I want to show for my clients is an exponential curve I don't want it to be a one-to-one ratio where for example someone pays $1,000 for one minute so it's gonna cost $2,000 for two minutes that as a business person does not make any sense so I like to have that exponential curve that depending on the bulk there should be a discount associated with that because a lot of projects people want to hire you for any large amount of music but if you cheapen your rate so much that it's super low and it doesn't feel good at the end of it's just not gonna be a good fit don't worry if your very first calculator feels off you can always change it after you embed it into your website and after all I always teach you guys to increase your rates by 30% after every custom gig because at the end of the day you really don't know how much your music is worth until someone pays for it and by having
A calculator it really does remove that middleman it allows you to have a ton of...
a calculator it really does remove that middleman it allows you to have a ton of confidence because you can literally just send someone to a link they will check out your prices and you don't have to explain it you don't have to justify it but if you feel like your music is worth that and more importantly if one of your past clients has already paid that much then you know and you have proof that your music is worth that much or more so by all means increase it by 30% I encourage you to check out my video from two years ago where I talked about how to increase your rate by 30 percent check it out now that you've built your rate calculator how do you actually implement it into your website let's take a look at my website using Squarespace here we are in Squarespace I'm in the creators panel here where I can edit all of my web pages and so if I go inside the free instant quote page at any point I can double click and start editing so what I can do is scroll down to wherever I want to add my instant quote calculator I can go to the plus sign scroll down to the code parameter
And from here I can post any type of code information if you want to add a...
and from here I can post any type of code information if you want to add a rate calculator to your website you are going to need an iframe code very much like a SoundCloud playlist or a YouTube video and embed that into your website another way of calling that is CSS code in order to do this in Squarespace you do need a business account which unlocks that feature and as a bonus if you don't have that already you'll also get an email account and you also get the ability to sell like an e-commerce site directly from your site so those are nice in order to add your rate calculator from you calc go to your my projects page and click on the three little dots go to get code and there it is there's your CSS code so you could copy that you can go back to your edit page paste it and you're all done so soon as you hit apply you'll notice that it says script disabled that will appear as soon as we
Exit and visit this as a normal user one of my favorite ways to do that is just...
exit and visit this as a normal user one of my favorite ways to do that is just to open up a blank page of Google Chrome using a incognito window and then when you go to your page you'll notice how it shows up right there to recap the you calc rate calculator is the most inexpensive way to land more sales directly from your website without all the hassle of negotiations and if you want to upgrade to that basic plan or higher you also have that awesome function of that Pay Now button which automates this process and makes it so easy for your clients to hire you that's what we want right you got to sell in order to make money thanks for watching guys if this video was helpful for you hit that like button and subscribe to the channel for more videos like this every Wednesday if you'd like to take your music business to the next level consider joining me on patreon where we have an exclusive discord server we have exclusive patreon rewards such as albums books courses and
A ton more you don't want to miss it check out the link above to be a part of...
a ton more you don't want to miss it check out the link above to be a part of that I'll see you next week guys in the meantime check out this playlist of other music tech tips that will help you grow your business see then you [Music]
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