June 18Jun 18 #464 Link to comment https://community.webinsiders.com/topic/134-how-do-you-raise-prices-without-losing-every-existing-client/ Share on other sites Share on Facebook {lang="reddit_text" Share on LinkedIn Share on Pinterest Share on X More sharing options... I have been at $75/hour for two years. My skills have improved but I am terrified to send the new rate to my long-term clients. Three of them account for 60% of my income. How do you actually communicate a price increase without them all leaving?
June 18Jun 18 #465 Link to comment https://community.webinsiders.com/topic/134-how-do-you-raise-prices-without-losing-every-existing-client/#findComment-465 Share on other sites Share on Facebook {lang="reddit_text" Share on LinkedIn Share on Pinterest Share on X More sharing options... I raised rates every six months. Lost 30% of clients each time. The 70% who stayed respected the increase. The 30% who left were replaced within 60 days at higher rates. The fear is worse than the reality.
June 18Jun 18 #468 Link to comment https://community.webinsiders.com/topic/134-how-do-you-raise-prices-without-losing-every-existing-client/#findComment-468 Share on other sites Share on Facebook {lang="reddit_text" Share on LinkedIn Share on Pinterest Share on X More sharing options... @Marcus_C Easy to say when you have a pipeline. Most freelancers don't. If three clients are 60% of your income, you don't raise rates on all three at once. You test on one. You grandfather one. You negotiate with one. Not everything is a bold move.
June 18Jun 18 Author #469 Link to comment https://community.webinsiders.com/topic/134-how-do-you-raise-prices-without-losing-every-existing-client/#findComment-469 Share on other sites Share on Facebook {lang="reddit_text" Share on LinkedIn Share on Pinterest Share on X More sharing options... @DerekNoBS @Marcus_C @HannahK @SamC Update: I staggered it. Raised one client, grandfathered one, added a deliverable to the third. Zero losses. Revenue up 25%. This thread literally saved my business. Thank you all.
June 18Jun 18 #470 Link to comment https://community.webinsiders.com/topic/134-how-do-you-raise-prices-without-losing-every-existing-client/#findComment-470 Share on other sites Share on Facebook {lang="reddit_text" Share on LinkedIn Share on Pinterest Share on X More sharing options... @DerekNoBS That's actually smart. I did the "all at once" thing and lost 40% of revenue overnight. Took four months to recover. The staggered approach would have saved me.
June 18Jun 18 #474 Link to comment https://community.webinsiders.com/topic/134-how-do-you-raise-prices-without-losing-every-existing-client/#findComment-474 Share on other sites Share on Facebook {lang="reddit_text" Share on LinkedIn Share on Pinterest Share on X More sharing options... I added value first, then raised prices. New deliverable, better process, faster turnaround. Then the increase felt justified, not arbitrary. Clients paid more because they got more.
Friday at 05:30 AM5 days #1291 Link to comment https://community.webinsiders.com/topic/134-how-do-you-raise-prices-without-losing-every-existing-client/#findComment-1291 Share on other sites Share on Facebook {lang="reddit_text" Share on LinkedIn Share on Pinterest Share on X More sharing options... The quick 5-minute favor used to cost me two hours. Now everything has a rate. Boundaries equal profit.
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