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Time to raise your rates to existing clients?

Posted by Ilise Benun on

In a blog post last week, Deidre wrote about how she raises her rates all year long. She ended the post with, “If you’re afraid to talk about money or to raise your rates, you’re probably the person who most needs to.”

And if that’s you, now’s the time.

How long has it been since you’ve raised your rates, anyway?
Too long, probably.

I know we’ve had a recession and you may have been asked to lower your rates lately.

All the more reason to raise them now.

Things are looking up. The election is behind us. People are optimistic. Cyber Monday broke records. You should benefit too.

But only if you take the bull by the horns, as they say. Nothing will trickle down to you unless you do something.

And December is the ideal month. So here’s what you should do:

  • Give notice to your existing clients that January will bring an increase. (Whatever you do, don’t ask them for a raise. You’re the boss.)
  • Ask if they need to spend money now anyway. If they don’t, they may lose it.
  • Offer to keep 2012 prices for 2013 services for whatever they pre-pay before the end of December.

Don’t let it slip away. Make a list of the clients who need a raise and draft a message to send them this week.

There are more tips like these in my book, The Creative Professional’s Guide to Money. (And it makes a great gift for any creative type who’s struggling with the “business” side.)

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