Marketing Secrets

Is It Time to Raise Your Rates for Your Repeat Clients? – by Ian Chandler

October 8, 2021

Is It Time to Raise Your Rates for Your Repeat Clients? – by Ian Chandler
Print Friendly

Does this situation seem familiar? You have a long-term repeat client who you love working with, but they hired you back when you charged way less. So, they don’t pay you as much as your newer clients. You’re scared that they might leave if you try to raise your rates, but you also want to keep them because they’re a valuable client who provides steady work.

This is one of the trickier situations a freelance writer can deal with, and it’s a fairly common situation at that. It’s one I’ve been in many times, and I’ve learned some valuable lessons that have helped me successfully raise my rates with repeat clients.

ACCEPT THE INEVITABLE
First and foremost, accept that you probably won’t be able to keep every single client, and that’s okay. If you’re losing low-paying clients, it means you’re moving onto higher-paying ones. Sometimes, this is inevitable and necessary. Other times, however, it is better to keep a client if they can afford you. But, if they just won’t budge on price, then it’s time to seek out bigger fish.

TIME MATTERS
Time is one of the most important factors in this situation. If you understand that, you can optimize your chances of getting old clients to pay you more. The basic concept is that there needs to be a sufficient amount of time between your rates changing. If your rates go up overnight, even the best client will be disillusioned.

If you’re dealing with a repeat client that you’re currently working with, make sure to provide advance notice of your rate increase. As a rule of thumb, tell your client at least one month in advance. Two or three is ideal. This will prepare the client for what’s to come, and it will also give both of you time to negotiate, and come to an agreement.

If you’re dealing with a repeat client who you haven’t worked with in a while, then the time lapse will have already happened naturally. You can simply say that you now charge more.

YOUR TIME ALSO MATTERS
Remember, you’re raising your rates for a reason. You can’t keep taking on low-paying jobs forever. Over time, your skills and demand increase, which means you need to be more selective about who you work with. This is a critical negotiation point (see below).

If you take on those low-paying jobs when you can easily get higher-paying ones, then you’re losing both time and money. Keep this in mind, and don’t be afraid to say no if you just can’t make things work.

DEAL WITH PUSHBACK
Your client might ask you why you’re charging more. If this happens, the answer is simple: you’re more in demand, and you only have so much supply. You should also mention that your expenses have increased over time as well.  It’s important to deal with any and all pushback. Listen to your client’s objections, and then politely address them.

INITIATE NEGOTIATION WITH VALUABLE CLIENTS
Often, clients will tell you that they can’t afford your new rates. In fact, this might happen most of the time. But, this doesn’t mean it’s the end of the discussion.

If you really want to keep a client, then you can pivot into a negotiation. Ask about their budget. Usually, you’ll be able to find some middle ground between your initial proposed rate and your old rate.

If you go this route, make sure not to undervalue yourself. You should have a number in mind that’s the lowest you can go before taking a financial loss. Just don’t go below that number.

TURN A “NO” INTO A “NOT RIGHT NOW”
Always leave the door open, even when clients turn you down. If they say no — or if you do — then make it clear you’re open to working with them in the future if their budget changes.

Raising your rates with repeat clients can be intimidating but it’s totally doable. And remember, sometimes you just have to move on. Over time, you’ll learn which clients to keep and which ones to let go.

RELATED

 

Ian Chandler is a freelance writer and Head Instructor at Writing Launch.

 

 

 

We are always seeking more MARKETING SECRETS articles. Please see our Writers’ Guidelines HERE. Send us your queries using our CONTACT FORM.

 

Fall 2023 24 Hour Short Story Contest


 



90+ DAYS OF PROMOTING YOUR BOOK ONLINE: Your Book's Daily Marketing Plan by Angela Hoy and Richard Hoy

Promoting your book online should be considered at least a part-time job. Highly successful authors spend more time promoting a book than they do writing it - a lot more.

We know what you're thinking. You're an author, not a marketer. Not to worry! We have more than a decade of successful online book selling experience under our belts and we're going to teach you how to promote your book effectively online...and almost all of our techniques are FREE!

Online book promotion is not only simple but, if you have a step-by-step, day-to-day marketing plan (this book!), it can also be a very artistic endeavor, which makes it fun for creative folks like you!

Yes, online book promoting can be EASY and FUN! Let us show you how, from Day 1 through Day 90...and beyond!

 



The Fearless Freelancer: How to Thrive in a Recession


Want to Recession-Proof Your Freelance Business?



Freelancing in a recession doesn’t have to be scary. The Fearless Freelancer gives you a proven, step-by-step process for getting steady, high-paying clients—from a freelancer who’s thrived during two recessions.



Whether this is your first recession or you’ve been through this before, discover how to:

  • Boost your confidence so you can stay calm and focus
  • Stand out in a sea of freelancers so clients choose you
  • Make freelance marketing as easy as tying your shoes
  • Find high-paying clients that still need freelancers now
  • Create marketing that will attract those clients
  • Succeed in a recession even if you’re a new freelancer


Free Bonus Content
Also get dozens of checklists, templates, and other tools to help you recession-proof your freelance business, including:

  • Simple Strategic Plan for Surviving the Recession
  • The Ultimate LinkedIn Profile Checklist for Freelancers
  • Awesome Freelance Website Template

 

 



So, You Wanna Be a Ghostwriter - How To Make Money Writing Without a Byline


Many freelance writers find it difficult to break into the publishing world. What they don't know, however, is that there's a faster and easier way to see their words in print. It's called ghostwriting, and it's an extremely lucrative, fun, and challenging career.

But how do you get started as a ghostwriter? How do you find new clients who will pay you to write their material? How do you charge? And what kind of contracts do you need to succeed? All these questions and more are answered in So, You Wanna Be a Ghostwriter...How to Make Money Writing Without a Byline.

Read more here:
https://writersweekly.com/books/49.html





 

 



7.625 STRATEGIES IN EVERY BEST-SELLER - Revised and Expanded Edition


At this moment, thousands of would-be authors are slaving away on their keyboards, dreaming of literary success. But their efforts won’t count for much. Of all those manuscripts, trade book editors will sign up only a slim fraction.

And of those titles--ones that that editors paid thousands of dollars to contract, print and publicize--an unhealthy percentage never sell enough copies to earn back their advances. Two years later, most will be out of print!

Acquisition Editor Tam Mossman shares seven essentials every book needs to stay in print, and sell!



Read more here:


https://writersweekly.com/books/5635.html