After stressing for ages about raising my rates, I finally did it. I half-expected my regulars to react negatively, but to my surprise, everyone just accepted the new prices.
It really made me reflect on how I had undervalued my work before.
Clients respect good work and understand price changes.
Clients usually understand price increases. If your work is solid, they will appreciate it.
We all deal with this fear. I waited way too long to raise my rates because I was convinced clients would bail.
The wake-up call? Realizing the clients who stayed valued my work more than I did. Ouch, but also pretty awesome.
Here’s what works now:
- Test new rates with new clients - way easier
- Give existing clients 30 days notice
- Good clients expect rate increases and budget for them
Clients who freak out over reasonable increases aren’t worth keeping. They’re usually the same ones who argue about every little charge anyway.
Good clients understand you get what you pay for and don’t mind paying for quality work.
Anyone complaining about fair price increases? They’re usually your problem clients. You’re better off without them than working for scraps.
Many underestimate their worth early in their careers. I made that mistake too, keeping rates low to attract clients. It backfired. Quality clients value good work and have no issue with fair pricing. They plan for rate increases just like they do for their own pay raises. If clients complain about reasonable price hikes, they often end up being late payers and nitpick every charge.