If being a freelancer includes being responsible for your own rate, why do some freelancers find it hard to increase their fee? Asking for more money could be the most daunting challenge any giggers face. It is also the most significant challenge a freelancer should focus on and overcome.
Well, there’s no harm in asking to increase your fee especially when your skills are improving and you are getting better at the job. For a moment, remove the fear that the client would get upset, fire you, or stop contacting you for projects if you tell them that you’ll be charging higher than usual.
At the end of this article, we hope that you have a little more confidence to apply some tips to increase your income as a freelancer.
Inform clients in advance
Your fee is also included in your client’s expenditures. You have to think of their budget and the value that you are bringing to their business by doing your task. If you were to increase your rate without discussion or any notice, it is not likely that they will accept it. It is a negotiation, not in just one person’s control. If you do not negotiate with clients it may lead them to stop working with you. Especially if they are old clients, they might be used to the rate you charge them, it would be better to inform them beforehand and if they have any concerns, it could be settled in a meeting.
Raise your rate periodically
One effective way to increase your income is to set a date every year on when you will raise your fee. That way, people are expecting it and it wouldn’t come as a surprise. Especially considering that the cost of living increases, it is also reasonable to have your fees for your service increase. If you would do this tip, it is better to inform your clients upon making an agreement that you usually reassess your rate around the same time each year.
No to sharp rate increase
Take it gradually. A 5-10% increase can be significant. Particularly if you keep raising your rates year after year, which is the norm as you gain experience and specialise as a freelance writer.
During this pandemic, it is important for freelancers to know how to charge for their services. With over 2 million Freelancers in the United Kingdom, applying such tips can help anyone increase their living wage.