(www.inkthinkerblog.com) — Speaking of increasing your rates, how do you tell your existing clients that you’ll be charging them more? James Chartrand comes to the rescue again with How to Increase Your Rates for the New Year over at Men with Pens:
2009 is just around the bend, and that’s usually the time when many professionals set their prices for the coming year. If charging more is the right thing for you, then it’ll soon be time to tell current clients that you’ll be increasing their expenses.
Fun stuff.
Writing that letter to advise customers of a rate hike can be uncomfortable, and it can be difficult to find the right words. You don’t want to lose clients, after all. You simply want to be paid a rate that you feel is fair for the work that you do and the time you spend doing it. Read More >>>
Something I loved about this article is the advice to help clients understand how your rate increase benefits them. Who’d a thunk, right? What was your aha moment in this article? Leave a comment.
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I still think the best way to raise rates is to frame it properly. No one wants to hear “Gee, you’re going to be paying more next year.” Wouldn’t they rather hear (and respond) to this: “Schedule and pre-pay your writing/editing project by December 31st and receive a 10% discount on 2008 rates! That’s a 25% total savings off 2009 rates.” You’ve just told them prices are going up without them groaning. Instead, they’re now thinking “I should get that project to her now and get that off my plate before New Year’s.”
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