Graphic design can be very lucrative, but how much you make from it depends on the steps you take. Below, we discuss what can help you make the most money, along with the alternative means a designer can take.
Know Your Worth
Graphic design is a competitive industry, and while you might think that charging a lower rate might attract more business, it’s actually the opposite that is true. It’s important that you know your worth and charge competitive rates. Time tracking for graphic designers is a great way to see how much you get done in a certain period and use that as a benchmark for how efficiently you work. That’ll help you understand the value that you’re offering with regard to the amount of time you’re helping your clients save. In the end, your work will speak for itself to your clients.
Do some research to find out the going rate in your area as prices can vary from one region to another. Then, set your prices based on this range.
Online Marketplaces
If you have unused work or rejected designs, you can always turn to online marketplaces to sell them and make a bit of extra money. You may also gain new leads or clients this way.
Use the Right Tools and Programs
Making money as a graphic designer means that you’ll have to spend money as well. In order to produce quality work, you’ll need quality tools and programs to create them, and many of them aren’t cheap. You can also invest in educational resources to help you increase your value. Look into tools to keep track of your sales and customers. This way, so you can also maintain relationships better and level up your earnings through referrals and repeat clients.
Create a Professional Look
Your professional image is just as important as the images you’re creating for clients. You could always start a design blog to showcase your work, along with other creative content. Depending on how successful the site is, the increased traffic could lead to more clients. Creating a blog would also let you forge relationships with other designers. If they can’t complete a project and need to refer a client to someone, they might choose you.
A Killer Portfolio
Potential clients need to be able to see your work, and testimonials and a portfolio are of great help here. Create a separate website to showcase your best work. Make sure you have a diverse selection to show clients what you’re capable of.
Read more: Build a Graphic Design Portfolio Without Any Design Experience
Offer Free Content
If you want more people to work with you, offering free content on your website might entice them. You still have to know your worth, so your giveaway item doesn’t need to be anything too labor-intensive; something like free desktop and mobile wallpapers might be a good start.
Niche Down And Initiate Targeted Outreach Efforts
It’s no secret that specialized professionals earn more on a per-project basis. Having a niche is a great way to increase your value to customers that need exactly what you’re offering. Think about what you do best, what you feel compelled to learn more about. You can also consider which one’s the most profitable. Once you have that, connect or send cold emails to companies that will benefit from your offer. It may start slow at first, but eventually, you’ll find yourself earning more for less.
Alternative Means
Here are some alternative ways to bring in money as a designer:
Rent Your Building
If you own the space you’re working at, you might consider renting a portion of it out to others, and using the money to grow your business. If you live in a highly commercial area, you’ll be able to charge a higher fee. You can further increase how much you charge by including add-ons, like Wi-Fi, copiers, printers and coffee.
Finding tenants is easier with rental estimate tools. They’ll go through property in the area, and give you a breakdown of how much you should charge. The rent estimate would also help you get the most out of the property, as you can lease it for less.
Affiliate Marketing
You may be pumping out some great informative content on your blog. In addition to contributing to your expertise, you can use your blog as a means of making additional income. Why not partner with brands and publish affiliate links? You can also make revenue from the ads on the site.
The larger you grow the blog, the more money you’ll make. You’ll be able to partner up with an increasing number of brands from a variety of industries. Focus on optimizing your site in order to rank well on Google search results. Third party teams can help with this.
Write an eBook
Many people are eager to do an in-depth analysis of graphic design and then apply it to their own projects. For this reason, writing an eBook can be an excellent way to monetize your knowledge about your field.
What’s great about this idea is that it requires very little investment on your part. There are numerous ways that you can publish an eBook for free, but you’ll have to market it correctly to ensure that you make a decent profit.
You can design a custom ebook to help generate leads for your business with Visme’s powerful free ebook creator and its easy-to-use design interface.
Host Classes
When it comes to graphic design, offering classes might be a great means of additional income. Platforms like Skillshare let anyone apply to teach courses, and you can pass on your expertise to others who might just be getting started in the field.
Lend Your Skills
If you have experts in the field working for you, they could train other teams. You could even enter into a contract with another business, renting out your skills to help them complete a project.
There are many avenues that a designer can take to increase their revenue and build their business. You should focus on creating a name for yourself through online channels, charging competitive rates, and exploring as many opportunities as possible. Consider these tips when growing your firm.
