Pricing your services appropriately helps you to avoid burnout. Having higher prices attracts higher-profile clients, and also generates a sense of prestige around your work. It also puts a natural limit on the number of clients that you will work with, which allows you to focus on over-delivering for your few happy clients.
However, increasing your prices can also protect you when it comes to negotiating clients. Some prospective clients want to feel that they are walking away with a bargain, no matter what. They will argue with your price whether it is $450 per month or $1,295 per month. With those clients, it is worth it to start at a higher price, so that your value is preserved when you agree to negotiate.
Struggling with the confidence to slap a higher price tag on your work? Newer freelancers may balk at the idea of doubling or tripling their prices. But for the change in client quality, it can be worth it. How do you change your pricing structure to attract better clients?
Make Sure You Are Skilled and Can Deliver at a High Level
It might seem like it goes without saying, but there is a possibility, especially if you are a newer freelancer, that you may not have the skills or experience to price at a “premium” level. Do a little self-reflection, and ask yourself if you need to gain additional education, certification, or projects in order to feel confident dramatically increasing your fees. Then, take action if needed!
Put a Range on Your Prices
Instead of saying that headshot photography is $1,200, you may consider putting a range of $900 to $1,200. This gives you a bit of wiggle room if a potentially wonderful client has a budget of $1,000. In that case, you could offer photos without touch-ups or with fewer “looks.”
Make Sure That Your Language Is Premium
If you double or triple your fees, you need to make sure that the entire customer experience is high-end from start to finish. Your website should be clean and consistent with luxury language, and your client acquisition process should be equally suave. Phone calls, follow-ups, and e-mails should be professional and have a polished touch.
Collect Testimonials with Photographs, if Appropriate
When people are considering high-ticket items, they want to be sure of your credibility and experience. It’s important to have multiple (real) raving reviews on your website or brochure, to help close the deal. Testimonials with real photographs help potential clients envision themselves enjoying the benefits of your business.
Once the Client Has Paid, Be Sure to Over-Deliver
If the client is paying premium pricing, then the service needs to be premium as well. If you are a graphic designer, you should allow the client to collaborate with you and to feel part of the process. If you are a videographer, your final product should be delivered with top-notch packaging and printing. Regardless of your field, once you are serving high-profile clients, your business should perform at a commensurate level.
Having high-profile clients paying premium pricing helps establish your business as a leader in the field, and once your freelance skills are ready to deliver at that level, it’s worth it to upgrade yourself!