The Agency Accelerator How To Increase Your Prices
Why do so many agency owners struggle to increase their prices?
Every January, I get a letter in the post from my utility companies telling me that their prices are increasing. We are used to receiving this kind of increase. In fact, we expect it, so we don't question it and we just move on.
What can agencies learn from this?
In this latest episode of The Agency Accelerated Podcast, I explore strategies to increase your prices in a way that you feel comfortable with and the client is more than happy to pay for (because they continue to see the value in what you're delivering). This applies to both existing clients and new clients.
I explore the different pricing models agencies use as well as some tips and strategies to ensure your clients value what you do.
Finally I discuss why mindset is the key to increasing your prices and charging a fair fee for the work you deliver.
Time Stamp
[1:13] Why should agencies increase their price every year?
[2:02] The importance of having the right mindset in pricing
[2:34] Different pricing models
[3:08] Reasons why you shouldn’t sell your time to clients
[4:06] Understanding transformation of pricing from being in pain to not being in pain
[5:13] An overview of value-based pricing
[5:43] Difference between value-based and time-based pricing
[6:55] Tips in positioning yourself with clients
[8:06] The importance of having a niche
Quotations
“You need to focus on the thing that the client really cares about - which is the outcome and the transformation from being in pain to not being in pain.” - Rob Da Costa
“..you all know that a niched agency is always gonna be able to charge more than a generalist. So having a clear niche will also help you increase your prices because you will be seen as a specialist, not a generalist.” - Rob Da Costa
“50% of getting your pricing right is getting your mindset right.” - Rob Da Costa
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Useful links mentioned in this episode:
- Price Increase Template
- Learn more about pricing in my free upcoming training. Save your seat here.
- Rob Da Costa’s YouTube Channel
- Get in touch with Rob at robert@dacostacoaching.co.uk