A lot of the time, artists feel like clients do them a favor by hiring them. The more you understand the ecosystem, the more you start seeing this as a service-based industry: You’re delivering value to your client, they’re delivering value to theirs -- and it goes up the latter. Each step in that latter is a much bigger profit margin. They need their problems solved. They need you as much as you need them.
It’s not just about raising your rates. It’s also about what it is that you’re doing that’s aligning with the client’s needs. How do you give them value? That’s always the trick to communicate. You need to be self-aware about what services you provide.
This is the big thing we need to get over: the money friction. A lot of us get resistance in the beginning. We’re afraid that if we raise our prices too high, we’ll lose our clients. “Raise your rates and scare away your clients” is an absurd idea. Instead, you can raise your rates and if the clients get alienated, they’ve identified themselves as cheap. It’s okay for them to go!
In this Podcast, Allan McKay talks about how to raise your value, both as a brand and a business, and how to communicate it to those premium clients that will meet your worth.
For more show notes, visit www.allanmckay.com/322/.
