Pricing your creatives services is tough in and of itself. And when the time comes to raise your prices, it can be even harder to negotiate your rate and explain why your price is the way it is.
In this video, Maryia Bulka, who is an artist and designer, is looking to raise her prices, but is fearful she’ll lose clients. She’s already had repeat clients express concerns regarding her pricing, and new clients are hesitant to accept her prices, too.
Business consultant Joel Pilger and Chris Do both give Maryia some coaching and guidance as to how she can raise prices without losing clients. Both Joel and Chris give their points of view on positioning, negotiating, and framing your mindset differently.
With every new client Maryia brings through the door, Joel advises she raise her prices each time. Her business has largely relied on repeat clients, making it hard for Maryia to justify the increased rates.
If she wants her business to grow, though, Maryia has to first raise her prices, and start positioning herself as an expert.
Being a service provider, compared to an expert on something, doesn’t exactly improve your chances of landing higher-ticket clients. Experts are well-educated in their industry, and have a certain skillset that others can’t match.
Experts are also busy. When you play a little hard to get with clients, it makes you that much more appealing to work with. You’re in demand, in a sense, and if the client wants to work with you, they’ve got to pay you what you’re worth.
Chris then lends his expertise and advice to Maryia to sell her services as if she were selling them for Chris. Knowing that Chris’s minimum level of engagement is $2,000, she’s much more willing to go to bat for him than she is for herself.
This exercise shows her that she’s worth it, too, and her work deserves proper recognition and payment.
When you think you can’t raise your prices for your creative work, think about how you would sell services for a creative professional you admire.
How you view yourself and what you believe is possible can make all the difference in growing your business, and pricing your services accordingly.