Freelancers: When and How to Ask for Higher Fees
One of the best things about being a freelance copywriter is the ability to control your income. You are not bound to any specific salary. You also don’t have to wait for a performance review to negotiate your income. The only limit is how you handle yourself and your clients. Here’s how to get the fees you deserve, or maybe even a bit more.
Ongoing Relationships with Clients
There are a few ways to request higher fees from established clients. One way is to keep track of the contributions you have provided that helped clients reach their goals. Gently remind your clients of your contributions when asking for higher fees. Clients prefer to stick with writers who “get them” and are easy to work with. Become that copywriter and you will have little resistance in asking for higher fees.
Another way to ask for higher fees is to produce content that is more specialized. Often a client is not aware of how much brand recognition can come from specialized content. A smart copywriter also wears a marketing hat. You are in the unique position of understanding a client’s brand. You may have started out just writing a few blogs for a client, but there is no reason that you cannot write a whitepaper or a press release. One of my best clients was originally a blog that led to press releases and whitepapers. Be sure to offer clients additional content that is relevant to their brand and goals. They will appreciate your input and view you as part of the team versus just another freelancer.
New Year, New Fees
The beginning of any year is always a great time to increase your fees. Clients will understand that fees will increase due to inflation. Be sure to send out a friendly email, text, etc. alerting your clients of increased fees. Be sure to highlight how the increased fees will allow you to continue serving clients in light of higher business expenses.
By increasing your fees on your business anniversary, you are promoting the age of your business. You are also letting clients, new and loyal, know that your business continues to thrive. Clients may offer less resistance if you offer a limited time deal. This also gives you the opportunity to highlight new prices after the anniversary deal.
On a Final Note
The key to getting higher fees is timing and establishing your worth. Work towards creating loyalty with clients through great content and providing valuable input. When the time is right that loyalty can help you obtain higher fees or even a referral to other jobs that pay much more.