Ghostwriting spans many niches—business executives, public figures, and authors across various genres rely on skilled writers to bring their ideas to life. You may also write in different forms, such as novels, eBooks, poetry, speech or articles, the level of expertise required is substantial. More reason for you to be adequately compensated for your time, effort, and specialised knowledge you bring to the table. Proper compensation can, however, depend on your pricing ability. In this practical guide, we’ll break down how to price your ghostwriting services.
Rates for Professional Ghostwriting Services
Professional ghostwriters typically charge rates anywhere from $0.10 to $0.70 per word (equivalent to around $49 to $84 per hour).
Blog Posts and Articles: It is common for ghostwriters to charge an hourly rate to write blog posts and shorter articles. Alternatively, they may charge per word. This charge usually ranges from $0.10 to $2.00 per word.
Social Media Posts: business ghostwriters may be paid per post or at an ongoing rate. For example, Business Insider reports that ghostwriters on LinkedIn may earn between $500 to $700/hr writing posts.
Longer Projects: Ghostwriters usually earn a flat rate for long-term projects such as white papers and video scripts.
Rates for Ghostwriting Ebooks
The charges for ghostwriting a book can range between $30 to $200 per hour or between $1 to $3 per word. Some decide to charge between $5,000 to $100,000 per project. Some top-notch ghostwriters typically charge from $5,000 to $40,000 to ghostwrite a book with a 30,000-word count.
However, the ghostwriter’s level of experience and skill is an important factor as experienced ghostwriters usually include hourly fees if the scope of the project expands. Meanwhile, depending on the contract terms, some ghostwriters may earn royalties from book sales.
If you want to become a ghostwriter, evaluate whether you’re willing to work without the added security of royalties.
How to Price Your Ghostwriting Services
Before you offer pricing for your ghostwriting services, it is best to consider important factors such as the industry you’re in, the type of writing, and the pricing model. Read on for steps to take when pricing your ghostwriting services:
Step 1: Consider Your Industry
Understandably, a client will expect to pay less for a children’s storybook than for a comprehensive ebook on a specialized business topic. Moreover, the rates for certain industries are higher compared to others.
For example, ghostwriters for technical manuals in a STEM field can charge higher compared to those who write on general blog topics. This is because such ghostwriters usually need specialized knowledge to write technical manuals.
Read up on: The Rise of Telehealth: Transforming Patient Care with Health Tech
Step 2: Consider The Type of Writing and Work Involved
There are different forms of writing and ghostwriters charge differently for them. Specifically, you may be hired to write autobiographies, business ebooks, case studies, whitepapers, memoirs, fiction novels, or non-fiction books.
You can also expect that the costs for writing forms such as research reports will be significantly higher compared to that of writing ebooks due to the level of work involved.
- The Length of The Book: The cost of ghostwriting tends to be higher for longer books. You have to consider the word count and the time for research, writing, and editing.
- Amount of Research Work: Again, you wish to be compensated for the amount of work that you put in. So, be sure to factor in the following as you price your ghostwriting services:
- The number of interviews to be performed
- How many sources are required
- The resources and commitment you’ll have to put in such as for meetings
Read 6 Easy Steps to Market Your Mobile App Successfully
Step 3: Consider The Project Timeline
Like in most fields, ghostwriters tend to charge higher for works with a tight deadline. This is how you can get compensation for the extra pressure that you will face. Besides, such projects may require you to put other writing projects on hold. You can therefore decide to include a 10% or 20% “rush fee” charge.
Learn How to Use Canva for Stunning Marketing Graphics: A Beginner’s Guide
Step 4: Factor In Your Level of Experience and Expertise
You don’t want to shortchange yourself when pricing your ghostwriting services. You have certainly paid your dues for the degrees in Writing, Literature, or some other field that you have. Likewise, your working experience with other clients and brands should weigh into the pricing.
It is therefore justified to charge higher rates if you are bringing in your professionalism, work experience, and quality assurance. This is especially the case if you have quantifiable track records such as content that has gone viral.
Furthermore, you may already specialize in a particular field or be considered a subject-matter expert in your own right. In such cases, you can charge more for the expertise that you bring in.
Step 5: Consider the Pricing Model
Select a ghostwriting pricing model that reflects the scope and complexity of the project.
Per Word Pricing Model
For example, charging $0.10 to $0.70 per word is common, though rates can be higher for technical or specialised topics.
Per-Hour Pricing Model
Some ghostwriters charge between $49 to $84+ per hour. But if you’re writing a longer novel, your hourly rate can be higher. In the same vein, if your project involves extensive research or a full-length novel, you can justify an even higher hourly fee.
Project-Based Pricing Model
It is common to charge a flat fee for longer books or large-scale projects. Note that this pricing model involves the client paying a fixed cost. Here, you can plan well to make sure that the pricing covers your needs.
Milestone Payments
For long-term projects, consider milestone payments—for instance, partial payments upon delivery of the outline, quarter draft, full draft, and final version.
While there may be an overall pricing, you may consider milestone payments for long-term projects. For example, there may be partial payments upon delivery of the outline, quarter draft, full draft, and final version.
Learn 5 Effective Ways to Drive Email Engagement Through Segmentation
Step 6: Factor In the Possible Number of Revisions
It is usually normal to allow for one round of revision if you already have a significant level of experience. However, if you do not have so much experience, you may offer up to three rounds of revisions. Your clients can therefore expect to pay extra if they require additional rounds of revisions.
Note that you have to clarify expectations on the number of edits before the project begins. This can help reduce the number of back-and-forths you have to deal with.
Step 7: Consider Indirect Costs
Unexpected costs may crop up as you are delivering your ghostwriting services, but you can reduce the chances by considering costs such as the following:
- Opportunity Costs: You may have to give up appetizing opportunities or put them off for later.
- Associated Fees: A good example is legal costs. Depending on the industry, type of work, and client, you may have to get a lawyer to go over agreements.
- Travel Costs: The project may require you to do some travelling for original reporting.
Check out: Top Health Apps to Achieve Your Wellness Goals
Setting Your Worth as a Ghostwriter
A major reason that should motivate you to effectively price your ghostwriting services is your need for fair compensation for your skills and expertise. You can therefore consider factors such as industry standards, the type of writing, project timelines, and your level of experience, and set up a pricing structure that reflects your value. Remember to set clear expectations with clients. Overall, a well-thought-out pricing strategy can help you stay ahead in the competitive landscape of ghostwriting for you to have a successful and rewarding career.
Need further tips on making a success of your ghostwriting career? Visit Exclusive Blueprint. Our blog provides valuable tips, trends, and tools that can help you stay ahead in the competitive landscape of digital marketing.
You can read other valuable content and trending topics on affiliate marketing, E-commerce, content marketing, technology, and industry news by checking out our latest articles and expert advice on Exclusive Blueprint today!
