How You Can Finally Raise Your Rates

by Martin

Are you a freelancer? Are you looking to make more money by increasing your rates? I’m here to help you out. The whole purpose of my premium guide and this site is to help you make more money through freelancing.

Last week I wrote about increasing your rate to make more money. The easiest way to boost your freelancing income right now is to charge your current clients more money for your services. While this isn’t easy, it’s totally possible.

How can you finally increase your rates to have more money coming?

First you need to take care of two conditions before you can ask for a raise:

  1. Deliver high quality work on a consistent basis.
  2. Understand what your clients REALLY care about.

Let’s take a step back, what do your clients care about?

The client doesn’t care about you and your special skills that you want to brag about. The client cares about how can you help them hit their business goals (more money, more customers) and personal goals (lose weight or learn how to play the guitar).

The client doesn’t care about features and the technical stuff that you offer. Most clients just want everything to be handled smoothly. This means that you need to focus on what the client wants, not what you want. Long story short: you have to make their life easier so that they justify to themselves the money that they spend on you.

You wouldn’t hire a personal trainer that bails on you or doesn’t care about you, right?

Once you understand your clients, you need to deliver the results that they expect and pay for. This is key. If you’re not helping them, you have no business asking for more money.

Time for more money…

Now it’s time to ask/inform your clients of the increase in price.

How do you approach this? Asking for more money isn’t always the easiest thing in the world. Most of us are very shy about this and don’t know how to start

How should you approach this situation? The easiest way is through email. You have nothing to lose from shooting over an email. Below is a typical email that you can use to ask for a raise.

“Hey Client Name,

I’ve totally enjoyed working with you. I’m happy to have helped you reach {insert goal that you’ve helped them with} and would love to continue working with you. For me to be able to offer the same high quality services, I need to raise my rate from $x dollars to $x + 1 dollars. I don’t want to lose you and hope that we could agree to this new rate. Please let me know what you think.”

It’s important that you remind them how you’ve helped them out with your freelancing services. You also need to stress that you would love to continue working with them. You just need to get paid more.

The worst case scenario is that they say they can’t afford the rate. However, if you’ve been doing a stellar job and they enjoy working with you, the increase in price shouldn’t be too much of an issue. We’re all used to inflation by now.

What if I don’t want to ask my current clients for a raise in the fear of losing the gig?

You have to make another decision here because nobody will offer you more money.

You need to decide if you want to find new clients that you can charge a higher rate to. The easiest way to do this is to ask your clients for referrals so that you can find new clients.

How do you ask for a referral from a current client?

“Hey Client Name,

I’m really excited how we accomplish {insert goal} together. I would love to work with more ambitious folks like yourself. Could you introduce me to a possible friend of yours that would benefit from my help? I’d really appreciate it.”

You can charge your new clients the higher rates while you continue working with older clients at the same rate.

Go ahead. Go after the money. I want to see more money in your pocket.

Don't be shy...
You want more?

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