We’re going to give you a pricing strategy which will allow you to raise your prices on your current clients 🙌

We know that sounds as awkward as the time where Pete fell into one of our actual clients in a meeting in a public restaurant and took out a whole table in the process.

True story.

But if you want to grow your business, then raising your prices is normal and is necessary. So if you’ve undersold yourself in the past, or if you have an old client on an old rate, or if you just think, you know what, now is the time to raise my prices, then this video is for you.

We’ve got three things that you need to do in order to successfully raise your prices with current clients, and then we have two bonus tips also that will also help you get paid even more!

So make sure you stick around for those, because they’ll help you not just with your current clients but with brand-new clients.


RELATED VIDEOS:

3 Things We Did To Get MORE SALES (That No-One Does!)

How to Increase Sales and Get More Customers | Sales Confidence

RELATED TRAINING FROM ATOMIC:

Salestastic


We’re going to give you a pricing strategy which will allow you to raise your prices on your current clients 🙌

We know that sounds as awkward as the time where Pete fell into one of our actual clients in a meeting in a public restaurant and took out a whole table in the process.

True story.

But if you want to grow your business, then raising your prices is normal and is necessary. So if you’ve undersold yourself in the past, or if you have an old client on an old rate, or if you just think, you know what, now is the time to raise my prices, then this video is for you.

We’ve got three things that you need to do in order to successfully raise your prices with current clients, and then we have two bonus tips also that will also help you get paid even more!

So make sure you stick around for those, because they’ll help you not just with your current clients but with brand-new clients.

Set the scene

The first step in your pricing strategy is to set the scene. Let’s say you’re going to raise your prices in a month’s time, you need to make sure that when you ask them, they are absolutely loving working with you.

And the reason we wanted to mention this, because sometimes if you’re not charging enough, you can find yourself a bit overworked, you can find yourself a bit stressed because you need to do a tonne of work in order to make the right amount of money that you need. And if you’re overwhelmed and you’re stressed with low-paying work, then that isn’t good for you, your sanity and your mental health, but it’s also not good for the service level that you’re giving to your clients.

You don’t want to give your clients any doubt that you’re worth your new raised prices. So if your service levels have skipped a little bit recently, then that’s a no-go. That’s not good, it’s not going to help.

The ‘Ask’

Once you’ve made sure that they are loving working with you, the next step in your pricing strategy is the ask. This can be done in an email or it can be done in a conversation over the phone or in a meeting. And actually one of our bonus tips at the end of this video is going to help with the means of doing this too.

Whatever means you pick, you need to take out the emotion. Raising prices is very normal. In fact, a lot of products and services in the world go up naturally over time.

So your tone needs to be very matter-of-fact and non-negotiable, not apologetic and negotiable. For example, don’t say this…

“Hey, John, I’m really sorry, but for the work that I did for you last week, I just didn’t get paid enough for it. And I hate to do this to you, but I’m just gonna have to raise the prices from 500 to 600 pounds a month. I’m really sorry, I hope that’s okay, and if it’s not, then just let me know. We can talk about it.”

Rather than that hot mess, alternatively try…

“Hey John, I just wanted to let you know that as of the 1st of January, my rates are going to be going up slightly. The last price increase was over 18 months ago, and so I thought now would be a good time to relook at them. On my new rates, the new monthly fee will be 600 pounds rather than 500 pounds. I really enjoy working with you and I’ve loved how much we’ve achieved together so far and I can’t wait to help you with all the things that you’ve got planned in. Of course, if you have any questions about that, fly them over or let’s chat about it in the next meeting.”

See how much better that was? It was to the point and it was confident. It didn’t make a big deal out of it because it’s not a big deal.

Remind them of how far you’ve come already

Remind your client what you’ve achieved so far, the value that you’ve brought them, and how much you enjoy working with them. It reminds them that you are worth the new price and it eliminates any doubt that they have about the new price increase.

Obviously, this was a generic example that we used here, and it would be much better if you could state some specific achievements or results that you’ve got for your clients. That would work much better.

Bonus tip number one –  The up-sell

People do not do this enough! If you want to make more money per client, have you ever thought about not just raising the prices, but also up-selling and offering them more services?

You should be speaking to your clients regularly and asking them questions like, “Can I support you in any other way? Do you have any projects coming up that you need my help with? You know how we did this thing? Have you ever thought about doing this other thing, because you know I can help you with that?”

With our own team members, we’ve often started with them on smaller projects, and then we’ve given them more work as we’ve got to know them, we’ve got to work with them, and as our business has grown. Because the chances are that your clients don’t know everything and anything that you can do to help them, so you need to tell them and you need to up-sell to them if you can help them more.

Bonus tip number two – The review

Raising prices on your current clients is much easier if it’s not a surprise. So especially if you have retainer-based clients, having in a scheduled, review type meeting would be a really good idea.

This could be a quarterly meeting, for example. And in it, you can discuss how the project has gone so far. Plus it also gives you a great excuse to go on and raise your prices, to up-sell more services. You’re there to present that to your client, and it seems much more natural.

Now, for more tips just like these, sign up for ‘Rebolution‘ – The Email Newsletter for Go-Getting Small and Mighty Entrepreneurs 🙌