Note from Carol — I’ve always considered late November to be the ideal time to ask for raises for 2012 from existing clients. And you can do it without begging, like the guy on the left there. So I was happy to get this guest post from Syed — enjoy!
By Syed Ali Abbas
When I was quite young, my father was a university lecturer at the government college. He would get a raise in his salary every year or two â€“ courtesy of the government.
The day when he would be given his first increased salary was nothing less than a Christmas day. Mum would prepare the best foods, papa would bring our favorite gifts, and in the late afternoon we’d go to a local park or a cinema.
But the most extraordinary thing regarding that day, I still remember, was the face of my pa, glowing with serenity and honor. Thatâ€™s what a raise in pay can do!
I am a freelance writer and I love my occupation. I love the flexibility to snooze and wake up whenever I want, to go for lunch break whenever I feel hungry, to visit the fitness center when it is not jam-packed with those who have just gotten off work, and to opt for R & R whenever I desire.
Nevertheless, the best thing is that I can grow my pay whenever I wish. Unlike my father, I donâ€™t have to wait for years. You simply cannot put a price on that.
As a freelance writer, setting your hourly rate is rather baffling. Increasing it is even more confusing. I also suffered from the same dilemma before I discovered these six ground-breaking points:
1 â€“ Say goodbye to freelance bidding sites
The freelance bidding portals are the biggest harm to a freelancerâ€™s hourly rate. Though these websites arrange for a lot of easy connections to clients, cutthroat competition among the providers forces you to excruciatingly lower your price.
If you are at the very first stage of your freelance career, you should definitely consider these as an option. But it would be a miracle if you succeed in getting more than $20 an hour. If you want to cross this threshold, the best place to offer your services is through your own website or blog.
2 â€“ Don’t kill the goose to get all the golden eggs at once
Client retention is a lot easier and hassle-free than client acquisition â€“ but that doesn’t mean you shouldn’t increase your rates. However, when you do it, be careful.
If you increase your rate 100 percent instantly, your client might have the shock of their life. It is better to raise it in smaller proportions over time, so that your client hardly notices it.
Remember, your client is loyal because of your high-quality services, NOT your low rates!
3 â€“ Increase your rate for every new client and new project
The easiest way to increase your hourly rate is to raise it for every new client. Remember, you are gaining more experience by completing each project — which means now, you deserve more. On the flip side, changing your rates frequently might offend some buyers, so once you’ve quoted a rate, stick to it for a while.
4 â€“ Publish a range of fees instead of a fixed fee
Step 2 and 3 will be hardly of any use if you have published a fixed hourly fee on your â€œHire Meâ€ page.
Why would a client pay even a single dollar more than you have stated? The sensible approach is to provide a range of fees. Tell prospects you will give them an exact quote once you know more about their project.
5 â€“ Revolutionize your business/website
This can be a game-changer for your freelance career. When you believe you have learned all the essential tricks of the trade, go big. You could join up with another proficient freelance writer to make a crew of pros offering versatile services.
Revamp your website and give your client a pleasant surprise the next time they direct their browser to your homepage. If you are able to impress them, you can increase your price considerably.
6 â€“ Work your heart out
Last but not the least — work like a horse, deliver like a postman and complete the project exactly as your client requested. Go the extra mile to oblige them. Your top-quality output will leave no room for the client to moan against your inflating rate.
Whenever you raise your price, present the news with confidence. You should have explanations to satisfy clients as to how they will get added services now or what makes you worthy of more pay. Be sure to highlight your growing familiarity with their publication or business, and any additional training or qualifications you’ve gained.
One vital tip:
As there is no lower limit to freelancing rates, there is not upper limit as well. So you can aim for the sky.
Do all your customers vanish after you increase your price? Then it is the time to honestly weigh your price tag against your skills and market rates. You can also get a second opinion from a fellow writer.
After the analysis, there are two possibilities: if you are satisfied with the results, then the lost client was no big loss. Alternatively, you should consider refining your knowledgeÂ — or maybe take your foot off the gas pedal a little!
(One more note from Carol: Don’t ask a client you can’t afford to lose for a raise. Once you tell a client rates are going up, you need to either get the raise or walk away. Otherwise, if the client refuses to pay the higher rate and you stay, they know they can take advantage of you at low rates forever.)
Syed Ali Abbas is a freelance ghostwriter. If you liked this post, donâ€™t miss any of his upcoming, inventive notions which he shares on his Writers Blog. You can also follow him on Twitter @NextGen_Writer.
Will you ask a client for a raise this year? Leave a comment and tell us why — or why not.