Creative Bloom

Creative Industries Masterclass in Valmiera: How to Determine the Price of Your Work?

On February 21, 2025, Valmiera hosted the third Mentor Club session of the project “Creative Bloom: Empowering female creative entrepreneurs,” focusing on pricing strategies in the creative industries. The event brought together program participants active in art, design, and crafts to explore pricing principles and enhance the market value of their work.

The session began with participants sharing their experiences and insights gained over the past six months. Many acknowledged that pricing is a valuable topic to learn, as prices are often set emotionally rather than based on calculations, and there is a common fear of clients’ reactions to price increases. Such discussions help overcome doubts and provide a new perspective on one’s work.​

Mentor Inese Stade shared her inspiring experience, emphasizing that many creative women often undervalue their work, fearing that higher prices might deter clients. She pointed out that, on the contrary, correctly set prices build trust and highlight product quality. “We cannot evaluate everything solely from our own perspective—sometimes we don’t see the true value of our work, but clients appreciate it much more,” said Stade. She added how important it is to raise one’s value and convey it in one’s work: “You can’t sell a product for ‘a grand’ if you yourself are not ‘a grand.'”

The main lecture was delivered by creative industries expert Simona Ozoliņa-Ugore, who analyzed pricing strategies and factors in detail. She noted that one stumbling block for creative entrepreneurs is not accounting for their salary in the price, which is necessary for a successful business model. Pricing in creative entrepreneurship is not only an economic decision but also a psychological and strategic aspect. Her presentation covered the main factors determining price in the creative field:​

  • There are no standard prices—each creative entrepreneur sets their own value.​
  • Customer perception is subjective—one person may think a product is worth €50, while another €500.​
  • Higher prices create trust and the perception of higher value.​
  • Products that are too cheap can raise doubts about their quality.​
  • Customers buy not only the product but also its story, uniqueness, and creation process.​
  • Prices are often set based on emotions rather than actual calculations.​
  • Customers remain loyal if they feel assured of quality and sustainability.​

Simona also shared practical tips on overcoming the fear of raising prices, indicating that this process should start gradually, assessing competition, and observing customer reactions. She emphasized focusing on the quality of one’s work and unique values rather than competing on price.​

After the lecture, participants shared their revelations and conclusions—many acknowledged that their clients would be willing to pay more if the price were presented confidently and connected to the product’s story. The emotional aspect of pricing was also discussed—how to overcome the feeling that “asking for more” is wrong and how to be more confident in one’s value.​

This event demonstrated that professionals in the creative industries need to develop not only their artistic talent but also business thinking and psychological resilience. The mentor program’s activities will continue, providing creative women with opportunities to enhance their knowledge and skills to successfully develop their businesses and confidently determine the true value of their work.

The activities were organized by the Vidzeme Planning Region’s Vidzeme Entrepreneurship Center as part of the “Creative Bloom: Empowering female creative entrepreneurs” project, in collaboration with Estonia’s Ida-Viru Entrepreneurship Center, co-financed by the European Regional Development Fund.