How to Tell a Client you are Raising your Rates

Be honest ladies - when’s the last time you gave yourself a raise? 

Freelancing Females is passionate about paying entrepreneurs what they’re worth, so we’re sharing our favorite ways to tell a client you are raising your rates!

Let them know well in advance!

Never spring a rate change on a client you want to keep. 60-90 days out is a good amount of notice to give clients that your rates will be adjusting. Sending them an email or mentioning it on a client call is the best way to communicate with those working with you. 

October is a great month to tell your clients that your rates are changing. This gives you time to send out new contracts at the first of the year, a time that already brings a lot of change. 

Be confident about why you are changing your rates! 

Think about what growth you are making in your business that give reason for your changes. Learning new skills, becoming more of an expert in your field, and investing in new technologies are all great reasons for raising your rates. 

Challenge yourself to consistently find new ways to grow in your business. Just like your talent, your earning potential is limitless. 

Raise them slowly, but consistently! 

Just like in a corporate position, allow yourself to take a raise at least every year! Small percentage changes are easier on your current clients while giving yourself consistent financial growth. 

If you want to keep your current clients, this also helps them adjust their own finances when accepting your increases. However, your ideal client or audience may change drastically after a change, so be prepared for a current client to counter or reject a rate increase. 

Try this email message to notify them!

Hi (client name)!

I wanted to thank you for your business and let you know about some upcoming changes to my company. Starting on (date here), I will be raising my hourly/project rates to $xxx per x. To give you a little insight on these changes, these are the reasons for my increase. I’ll be sending over a new contract and am looking forward to our continued relationship! Have a great rest of your week! 

A good client will understand and respect your changes, so know your worth and invoice accordingly! Good luck to everyone raising their rates in 2021 - you can do it!