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Greetings!   

 

This is a special issue on a question we frequently get asked, How much do I charge for my services? In this issue, we'll tackle Virtual Assistant administrative support rates with the help of industry expert, Robert Brenner.

 

We hope you enjoy this issue, and as always, email us if you have any questions. We will answer your email - We are here for you! Our email is support@virtualassistants.com

Snapshot: The Going Rate - Admin Support
by Robert C. Brenner, MSEE, MSSM 2012 Brenner Information Group

 

Special Alert: As this article was being written, India suffered two severe power outages that affected over 740,000 people (far more than the population of the entire U.S.). While this was devastating for India, it was very positive for American virtual assistants and a fantastic marketing opportunity for those competing with India. The power outage exposed a weakness in the Indian infrastructure that is causing uncertainty among buyers of India VA services. With the reliability of job completion dates being questioned, American virtual service providers have a unique opportunity to exploit this weakness and pull work away from India.

 

Analyzing Competitor Prices

 

Much can be gleaned by collecting and analyzing competitor pricing information. Below is a list showing the billing rates, 12-month-earnings, and number of bids submitted for the top listed virtual professionals on Guru.com.

 

Brennerr 

 

By studying this data, you can gather intelligence about the market and your competition. For example, 10 countries are represented in the top 50 businesses listed by earnings. Two stand out-India with 20 and the U.S. with 22. All the other countries only had one business listed in the top 50.

 

The billing rates for admin support ranged from $8 to $75 an hour. Comparing India and the U.S. shows that prices in India vary slightly ($8-$9 per hour) and averaged $8.05/hr. Prices in the U.S. ranged from $8 to $75 an hour and averaged $17.05/hr.

 

Twelve-month earnings for all 50 professionals ranged from $649 to $60,854 a year and averaged $7,648. In India, earnings ranged from $1,124 to $60,854 and averaged $12,251. Twelve-month earnings in the U.S. ranged from $1,228 to $20,371 and averaged $5,104 a year.

 

Next we analyzed the number of bids or quotes submitted to prospects over the last 30 days. Overall, the range went from 0 to 190 bids. For India, we found the number of bids ranged from one to 190 and averaged 17.5. In the U.S., we found the range went from none to a high of 38. The U.S. average was seven per 30 day period.

 

Collectively, you can see that asking rates in the U.S. are twice as much as in India. And Indian professionals are earning over twice as much as American professionals. Indian VAs also averaged over twice the number of bids as did their U.S. counterparts. So Indians charge less, earn more, and bid more.

 

Next, analyze why these differences exist. Then select a strategy to maximize your income and profit.

 

About the author:

Robert Brenner is the president of Brenner Information Group (http://www.brennerbooks.com) and the author of Small Business Guide to Pricing and Pricing Tactics. He can be reached at brenner@brennerbooks.com.

 

Get Started... Special Offers for Summer!

 
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