The answer is usually “no. ”
You probably saw this answer coming (because what a short and depressing post this would be otherwise!), but let me tell you the two top reasons why I believe that cost is not the primary issue.
- From a buyer’s perspective, the ideal outcome is to get their job done well at a reasonable price. If the job is not done well, no matter how low the bid, the buyer doesn’t get what they want.
- Low-quality providers with cheap rates often present themselves so poorly that buyers start to avoid the lowest bidders.
I tried an interesting experiment recently as part of the process of writing the oDesk Insider book. As a buyer, I know what catches my interest, and I know what makes me immediately reject a candidate, but before giving advice to providers based solely on my experience as a buyer, I wanted to test that advice from a provider’s perspective. So I set up a provider account on oDesk.
I took some time to do all of the things I believe makes a provider more likely to get work: I wrote a compelling, benefits-oriented Objective, I added relevant work experience, I took the most relevant test, and provided links to previous work. It took me about an hour.
Here’s where the interesting part of the experiment came in: I searched for the jobs I’d like to do, looked at the candidates who were listed, and intentionally set my rate at 150% of the highest rate being considered. I figured if my theories were any good, I could get assignments even with a higher rate.
I applied for three jobs and got two of them, despite being far-and-away the most expensive applicant. To be fair, I credit this as much to my excellent cover letters (if I do say so!) as my profile. However, I also received three buyer-initiated requests to interview within the next week.
I’ll be digging into the specific how-to steps in the book (of course!) and also on the blog over the next few weeks, but here are some very general concepts to think about in the meantime.
- Be likeable.
- Be the best candidate for the job, regardless of rate.
- Stand out from the competition.
- Only apply for jobs that you’ll be exceptionally good at.
Very good points Sarah. I don’t think I’ve ever been the lowest bidder on a job that I’ve won.
I got a very large job once at least in part because I told the person up front I wasn’t going to be the lowest bidder and that was a good thing because they said they were looking for quality.
Yes the money is important, but every buyer knows that if they are going to have to pay to have the job done again, taking the lowest bid isn’t going to help them. Any money that’s paid for an unsatisfactory product is wasted.