How Your Clients Perceive Value
At the center of my book on raising your freelancing rates is an exploration into the various ways that we deliver value to our clients.
For the average freelancer and consultant, the answer is simple: it’s the work we develop or design for our clients. However, I argue that there’s a lot more to the value we deliver than just the tangible work we produce.
Here’s a direct except from a chapter title “Price As A Mirror”, which covers how the price we set for our services is seen by prospective clients:
The Experiential Factor
When judging the value of a transaction between a freelancer and client, the experience of the project is inarguably the most important, longest lasting component of the received value. It’s where we get referrals, repeat business, and internal satisfaction.
The experience begins the first time you come in contact with a new client. Being responsive and driven by a principled approach to business is something that a savvy client will always respect. I can’t begin to count the number of times a lead has been in shock because I replied to their contact form submission within an hour.
And the more you come across as a seasoned freelance professional who has a clear plan of action, rather than being swayed whichever the wind blows, the more respect your client will immediately have for you. And more client respect equals more money in your pocket.
The Economic Factor
Because we aren’t paid in smiles but in cold, hard cash, it’s just as important to help our clients make a return on the investment they spent on us. The economic fallout of a project refers to the increasing or decreasing effect a completed project has on the client’s business.
A simple example might be an online store that hired you to redesign their template. Presumably, it was already capturing revenue, and you were hired with the intent of increasing the revenue produced.
While it’s impossible to accurately gauge how your redesign will affect sales, it doesn’t hurt to do a little speculation. Additionally, by explaining how they’re being hurt financially by not implementing your suggestions, you can highlight a loss – even if the client is currently profitable.
This and a whole lot more information (60+ pages worth) that will help you not only become a better freelancer, but also put more money in your pocket, is on sale for a limited time. Buy “Double Your Freelancing Rate” for just $49.
What would raising your rates do for you this year?
A 50% increase in rates will bring you $ more this year (or 5 X)
A 100% increase in rates will bring you $ more this year (or 12 X)
A 200% increase in rates will bring you $ more this year (or 52 X)