The need to raise rates can happen for many reasons. Two of the most popular are:
1. After you have worked with a client on a few projects, you may find that you underestimated the amount of time their projects would take and you need to raise their rates.
2. You’ve worked with a client for so long that your standard rates have changed significantly since you quoted them and now you want to bring their rates up to your new average.
No matter why you want to raise rates on an existing client, there are many things you must consider first…then there are a few steps you can take to make it easier.
Considerations
1. Are you willing to lose the client? Some clients may not agree to your rate hike and may, instead, decide to find a new writer. You must be prepared to lose them.
2. Is your work worthy of a higher rate? Just because you charge a higher rate to new clients or your existing client’s work takes too long, doesn’t mean you deserve a higher rate. Try to look at your work compared to other freelancers in the price range you want to be in. Is your work worth it?
3. Is there any way you can reduce the workload to make the current rates worth it? This is kind of a backward way of raising rates, but sometimes clients respond more favorably to you reducing services rather than raising rates.
Rate Raising Steps
1. Make an appointment to call the client to discuss it over the phone if at all possible. You want to soften the blow and open the discussion, and email isn’t always a good platform for that.
2. Make sure the client knows that you enjoy working on his or her projects. This helps to avoid your client thinking that you are raising rates as a way to get out of working for them.
3. Explain the reasoning behind the rate raising. If you are making $5 an hour because of the amount of work you must do for the client, let them know (unless this is because you are not working efficiently–the client should not be punished for that). Also, if all your other clients are paying significantly more, let them know that your rates have raised that significantly since you started working with them. Honesty is a good thing.
4. Give the client a choice. Let them choose between higher rates or reduced services.