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High-Income Business Writing Podcast

#332: Yes, You Should Still Raise Your Fees (Even in This Economy)

Nov 7, 2023
Learn strategies for raising fees in a challenging economy and how to offer a separate engagement to clients. Discover alternative methods to increase value for business writers and copywriters. Avoid the stress of telling existing clients their fees are going up across the board. Get specific recommendations for raising fees in a more effective way.
07:09

Podcast summary created with Snipd AI

Quick takeaways

  • The podcast suggests increasing fees by 10% to 20% when presenting pricing to prospective clients, which has resulted in over 60% of clients accepting the fee without questioning it, allowing writers to raise their fees without risking the loss of existing clients.
  • An effective way for writers to raise their fees is by offering bundled services, combining commonly worked on projects with related deliverables, creating profitable add-ons while increasing perceived value and clients' willingness to pay.

Deep dives

Raise Your Fees to Prospective Clients

In challenging economic times, many writers are hesitant to raise their fees. However, the podcast suggests a different approach. The host recommends increasing fees by 10% to 20% when presenting pricing to prospective clients. Surprisingly, in over 60% of cases, the clients accept the fee without questioning it. The host explains that if clients perceive the fee as too high, even the original non-discounted fee would have been too much. By taking this indirect approach, writers can raise their fees without risking the loss of existing clients.

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