A lot of freelancers agonize over raising their prices. I know I did.
With no boss telling you what to do or how much you should get, it’s easy to feel anxious and confused when it comes to increasing your rates. When should you do it? How do you tell your clients? More important, how much should your new rates be?
I used to spend weeks—no, months—mulling over these things and convincing myself I deserved it. Then when I arrived at the point where I had to tell my clients how much my rates were, I still sometimes ended up backtracking on my prices.
It went on like this the first few times I had to communicate my prices, until I realized one thing: Writing my new rate sheet or telling clients how much my services cost is the easy part of the whole process.
The real work involved in increasing your prices happens BEFORE you actually raise them.
Pre-Raise: Rock their socks off
Think of this as a classic “show, don’t tell” scenario.
To command competitive rates, your work must speak for itself. You need to impress your clients with a top-quality portfolio and provide enough value to make your fees worth it.
You shouldn’t have to spend a lot of time justifying your fees. Let your portfolio do it for you.
Remember, high rates are warranted by high quality work.
Think your skills aren’t there yet? Don’t worry, they will be. With the right investments in yourself and a ton of practice, you’ll improve the caliber of your work enough to start commanding higher rates.
Here are a couple of things you can do to step up your game:
Guest post on websites that scare you
Up the level of your network, your portfolio, and eventually your rates, by submitting guest posts to websites that are above your own skill level and comfort zone.
Don’t stress over this! Do it incrementally. For instance, if you’ve been posting to B-level blogs, start pitching to the B plusses in your industry and move up from there. Climb the blogosphere ladder until you see your name in the crème de la crème of blogs.
Doing this won’t just give you more portfolio pieces and exposure, it’ll be great practice too. Guest blogging on top-notch websites hones your skills, improves your writing speed and pushes you to think of better, more original ideas—all of which are key to being a more competent blogging professional who charges competitive rates.
More important, landing guest posts on big sites boosts your confidence and gives you the validation you need to raise your rates. Nothing raises a blogger’s low self-esteem like seeing their byline on a major blog.
Invest in your education
In order to do more and charge more, you have to KNOW more. That’s where education and training materials come in. Broaden your knowledge and skill set by reading books, taking courses, or finding mentors.
What exactly should you take up? That depends…
Think about any weak points you may have. What aspects of your work do your clients or editors say you need to improve? Identify the things that you need to work on, then find courses that will give you the skills and know-how that you need. There are a lot of good ones out there. And some of them are more affordable than you think.
You can also check out Mixergy, AppSumo, or Udemy—these sites offer training and educational materials at inexpensive prices.
One caveat though: Don’t fall into the trap of buying one training program after another and not taking action. Knowledge really is power, but it’ll only work if you apply it. So once you’ve got the know-how you need, go out there and test it, use it, and make something out of it.
Raise time: The part where you tell people about your new prices
So you got yourself published on some amazing blogs, done some training and you’ve officially leveled up in the blogosphere.
Now it’s time to actually tell your clients that you’re raising your rates.
Take a deep breath; it’s going to be okay. (This is the not-so-hard part, remember?)
The key to increasing your prices without scaring clients off is to communicate what you bring to the table. Enumerate the results that you’ve accomplished for your clients (increased traffic, boosted engagement, etc.) and make them see why finding, hiring, and orienting a new blogger would cost more.
As Ramit Sethi put it, raising your rates is all about conveying your value and positioning yourself as the best option for them, so that they’ll be happy to pay you more. When clients see how great and valuable you are, pricing becomes a non-issue.
My approach is similar to that of Carol Tice, where I give existing clients a considerable heads up (around 2 months) before I increase my fees on them. I make sure to list the wins that we’ve achieved while working together, reminding them of the good times, and I tell them I’d love to continue our relationship.
Here is a sample of a rate adjustment email that you can use:
Hi [name],
First off, let me just say that I enjoy working with you and I’m happy to be helping your company achieve its content and engagement goals.
I’ve been writing for [insert company name] for about [time frame] now and I’m thrilled to see that in that time, your blog’s engagement level has increased and your Facebook likes are now well over the triple digit mark. We’re also getting more inbound links thanks to the guest posts that we’ve published and the press releases that we issued last year. [Mention the goals that you helped them achieve—you did define those goals when you started working with them, right?—and provide measurable results to help them see how much you’ve helped them and why your services are worth it.]
We’ve done great things together and I’d love to continue working with you to achieve even greater accomplishments in the future.
With that said, I want to let you know that I’ll be increasing my rates starting [insert date here]. Please see my updated pricing information below:
[Insert your new rates here. Be direct. No need to get into why you decided to raise your rates or why you deserve it.]
If you have any questions or concerns, please don’t hesitate to let me know.
I truly appreciate your business and I’m looking forward to our continued relationship.
Best regards,
[your name]
Will clients drop off the grid when you do this?
Some of them might. But don’t think of it as losing clients.
Instead, think of it as making room for better clients who will pay you what you deserve.
Images: jourdy288
Ugh! So huge! I’ve gotta do this. Thank you so much. I don’t have measurable results, unfortunately, so I think I am going to wait it out.
You’re welcome, Willi!
Like what Sophie said, there are always measurable results so be sure to ask the client if you can get access.
However, if you really think that you have to wait, then you can always make the most out of your wait time by doing some of the things in the post (i.e. guest posting, taking courses, etc.)
Willi, there are always measurable results (though not always enough measurements to draw a statistically reliable conclusion).
Page views? Comments? Email subscriptions? Social shares? You might have to ask your client for access to some of those measurements, but they’re often displayed on sites so you can probably check some of these things out without your client’s help.
“You might have to ask your client for access to some of those measurements” — Agreed. Additionally, asking for these metrics can also help us deliver better results.
For instance, if a client tells me that a particular post drove a lot of traffic to their site, I’ll examine that article to see what made it so popular and I’ll try to do the same thing in my next post to see if I can get the same results.
This is my exact problem. Most of my clients are so busy they haven’t been able to give me stats yet, or they’re really picky/unhelpful about giving them out at all. What should I do in a situation like this?
On the other hand, I was hired by a copywriter I’ve worked with in the past to guest post on behalf of his client, Bidsketch. I got 4 out of 4 guest posts accepted to larger web design blogs, and if those bring in good metrics for Bidsketch, that will be a big bonus for me!
A gentle reminder would probably help. Maybe insert it as a P.S. in your next email.
Like what Sophie said, there are other metrics to look into, such as social shares and comments and you can use these to demonstrate results.
BTW, congrats on your gig with Bidsketch! I think the fact that you had 4 out of 4 guest posts approved effectively demonstrates how good you are, but still keep an eye out on how those posts perform as well.
Keep us posted!
This is great advice, and there’s tons in here that you can apply to more than just raising client rates. Thanks!
Glad you like it, Alicia. Thanks for the comment!
To quote McDonald’s: “I’m lovin’ it!” Thanks for this piece–a lot of great tips and strategies here. The sample letter was also very helpful.
You’re very welcome, Jennifer! 🙂
Very practical and actionable and thank you for the template 🙂
I’d just have to slightly disagree on the last part. Most existing clients will still try to negotiate with your “new” rates and lower it. So I suggest be prepared with the minimum amount you’d be willing to accept once the client starts to haggle, especially for long-term clients. Some of them could have become your friends already and letting go is not that easy too. These types of clients do see and appreciate your value but it’s sometimes just a matter of staying within a particular budget for them, so as mentioned, just have a flexible rate schedule instead of a fixed one. But of course, don’t go below your chosen lowest rate once you’ve raised your rates.
Re new clients, I’ve also learned from one mentor and friend that it’s best to set a time limit for your rates e.g. $50 per post for 2 months and their expectations as well. Have them think of it as a getting-to-know period, where both of you gauge if you’re a good fit, then after that period, you’ll be raising your rates to X amount per post. This would be the best time to mention the measurable results you brought to their site/business because they’re expecting a pricing change and how you’ll show you deserve it.
You’re welcome, Jovell, and thanks for your input!
Yes, it certainly wouldn’t hurt to be flexible when negotiating a pay increase with existing clients. For instance, I would be open to comprising with a client if they’re really easy to deal with and if they intend to work with me on a consistent, long-term basis. There are other factors to consider beyond compensation, and it’s ultimately up to the client and the freelancer to arrive at a price that’s fair for both of them.
“Have them think of it as a getting-to-know period, where both of you gauge if you’re a good fit, then after that period, you’ll be raising your rates to X amount per post.” — Interesting! I’ve never thought of doing this. What’s your experience with this method?
I like what you said at the end, “Don’t think of it as losing clients. Think of it as making room for better clients who will pay you what you deserve”. Great way to look at it.
Thanks, Deevra. Glad you like it!
Nice post. I know this is a subject that tends to scare a lot of freelance writers. When you sell your time though, it can quickly become the only way you’ll see more money.
Thanks for the comment, Matt! I agree. I was scared to raise my own rates as well, and I know that many freelancers feel the same. It’s part of the reason why I decided to write the post.
You are right Francesca Nicasio; now your impressive portfolio cannot hit the target unless you have several guest posts in high quality blogs; you can write thousands of post on your own blog but to be published on top blogs with a few posts is damned difficult and it reflects how much is your worth.
You’re right! Guest blogging on top notch sites can be a challenge, but the positive effects are undoubtedly worth it. Aside from portfolio pieces that prove your worth, landing guest blogs on big sites can help you build relationships with bloggers and readers alike.
Killer. All of these have to be considered at the same time to spur you into action. Lately, I’ve had to stop taking on additional work just so I can go at it again with new prices. It’s very clear to me now, what a low-rent employer looks like. I’ve only stuck to one dude who I write for at the same beginner level pricing, cause I like him. I’m always practicing and challenging myself and learning new things. Exciting!
Thanks for weighing in, Jon! I hope your new prices work out for you and your clients.
I also love what you said about always practicing, challenging yourself, and learning new things. That right there is the key leveling up as a blogger. 😉