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How do I raise my rates?

How To Raise Your Freelance Rates


One of the most common questions freelancers ask themselves is how can I raise my rates and

Will I lose any clients if I do raise my rates?


If you are wanting to raise your prices especially to your existing client base


Ensure you have and online portfolio of your work and clients and what services you offer and

the value you can provide.


References and testimonials are extremely important is showcasing your branding and service

offering. You want to make this easy and accessible on your website or online portfolio.  You can

have clients who are on a higher pricing tier write testimonials about the value they have

received from being on the plan.  


You can offer a more premium product compared to your current services/products clients are going to be more reluctant if you are raising your prices for the same product or service and the credibility of your work.


Think of this as more like an upgrade/upsell, you can even offer your clients a free trial on the

new service/product, so they can see that you are worth your new price. Basically they are

going to see your value through your new premium service for free before you transition them

over to the new pricing. If your client/s do not see the value in your new service/product offering

then you can simply perhaps negotiate a better option plan for them or transition them off you.


Social Media Presence is very important for your online image and branding, showcasing your

services and products. A strong online presence shows your credibility and represents who you

are and what value you bring to the table. Also, it brings along with it a strong audience

especially if you have a big following across platforms such as Twitter, Linkedin and Facebook.


A letter advising your clients of your pricing increase is also a great resource to showcase and

outline your value by highlighting areas of your current work and areas of premium service

offering you can provide. You can include links to your portfolio, work and clients you have

worked with. This will really show them that you are worth the increase.


When clients can see the value and ROI return on investment for their business they are going

to want to work with you. So charge what you are worth and be confident in the value you

provide.



Jodi
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