“Thoughts on this new rate? I’ll stand by for further questions.”Įnd your price increase letter with a bang! Drum up the hype for the future projects.“Let me know if you have any questions about my new rate.“What do you think of this new rate? Honesty is encouraged, appreciated, and applauded.”.This is the part where you might want to inject a tinge of personality or humor to help you sound more approachable. This statement invites clients to share their thoughts on your new rate and draws out any reservations that they may have. Talking about money can be uncomfortable, but having an open dialogue makes things easier for both parties. (I sent mine in January 2020 for the new rate to take effect in March 2020.)Ī simple “This rate will take effect/start from ” will suffice. Your clients may need to make adjustments to their budget and get it approved by their finance team. Pro Tip: Give your clients at least 1-2 months notice for this new rate to take effect. When clients are delighted by your work and the experience you create, they’re compelled to continue working with you. Offer to extend the current rate for your clients to show you genuinely care about them. Delight CustomersĪ thoughtful gesture goes a long way. Sticking to short and sweet will always be effective: You deserve to be compensated what you’re worth. It’s tempting to overexplain your price increase, but good work speaks for itself. I totally understand that times are tough and your budget is tight, but I really do think that…” *goes on for another three pages* “Due to the recent recession, I’m afraid that I have to increase my rate to $X amount.“Because I’m taking more work than I can handle and you’re one of my lower-budget clients, I have to raise my current rate to $X amount.”.“Would it be okay if I increased our rate to $X amount?”.These three examples below are weak ways to announce your price increase. Notice how this comes across as a confident statement made by a pro, rather than a request from an all-too accommodating client-pleaser. Built a high-converting proposal template that can be used for your different client segments, saving you loads of time and money.Fine-tuned your follow-up and upselling system, which resulted in an 80% closing rate.… thank you for the work we’ve done together. This shows clients that even though your rates are increasing, it’s still very much worth their investment.įor example, if you’re an entrepreneur who runs a sales coaching business, you might write something like this: Pro Tip: Stress on the value you delivered. In the world of business, this simple act of saying thanks - besides doing awesome work - retains customers and improves your bottom line in the long run. When you express gratitude, it shows you value your clients. So to make this guide even more valuable for you, I’ve included several pro tips and examples so you’re prepared for anything that comes your way. If you’re dealing with a client you think might not budge on your new rate - you know the “hagglers” I’m talking about - you need to do a little bit more work to convince them. If you don’t want to do this, simply start a new email.)įirst things first, this is a great email for clients who understand the value of your work. (Note: I merged this one with my project update email. That way, I can use it anywhere in my business. I first came across it on The Middle Finger Project (yes, that’s the actual irreverent name) and tweaked it to match my brand. Here’s an email I sent that got a “yes” from my client. End With a Focus on the Future Why the following price increase letter works
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