How to tell clients your raising your rates.
Overview
Freelancers tend not to raise their rates because they fear their client’s reaction. They don’t want to lose existing clients. Good clients expect periodic rate increases and won’t give you negative feedback. A good practice is to offer your current rate for a limited time before your new rates kick in. This way, your clients feel they’re getting a discount.
Hi <Client>,
It’s been a pleasure working with you and I appreciate our professional relationship.
As I have grown my business over the years, I’m consistently improving the level of skill and service I bring to every project.
Consequently, my rates must reflect the increased value I offer my clients.
As of <date>, I will be increasing my rates to <insert new rates>.
These new rates are standard across the board for all my clients.
Until then, I’m happy to extend my current rate for any work you book now through <rate increase date>— even if you don’t need the work complete until after the date passes.
Thank you in advance for your support and let me know if you would like to book any new work before my new rates kick in.
<You>
Notes & Strategy
A window of time at your old rate will often lead to a flurry of last-minute requests from your clients.
Everyone likes to get a discount.
Ensure you have the time to do the work they ask you at the old rate.
It’s best to let your clients know your rate increase is not negotiable and it applies to all your clients.
Never say, “I hope you’re ok with my increase” or “let me know what you think.”
You’re a professional who sets the rate for your work.
It’s good practice to raise your rates every year or two.
It establishes a positive habit of charging more for your time and seeing yourself as a premium service provider.
Clients who respect your work and enjoy working with you should not have a problem with a rate increase.
If a client refuses to pay the increase or has a real problem with your higher rates, consider if it’s worth keeping them on as a client.
Remind your client of the value you provide along with the business results.
There are plenty of clients who are looking for quality work and will pay a premium for the privilege.