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176. How to justify raising your prices on current clients
Manage episode 375595132 series 3330898
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EPISODE 176
Today I want to tackle a question that was sent in by one of you, which is “How do I justify increasing my prices when the workload is the same?”. My preferred way to raise prices is when the workload changes, but sometimes there are reasons to increase your rates when things haven’t really changed. In today’s episode I’ll talk about determining the “why” behind wanting to raise your rates (and why it matters), how to determine if you should raise your rates on a set schedule, and of course, how to justify increasing your prices when the workload hasn’t really changed. Spoiler alert - even if your workload hasn’t changed, the quality of the product you deliver could have (and probably should have) changed as you’ve learned more about being a podcast manager and gotten better at what you do.
In this episode, we cover:
-Determining your “why” when raising a price
-Should you be raising your prices/rates on a regular schedule?
-Being okay with the possibility that a price increase might result in losing a client
-When you shouldn’t raise your rates
-An easy way to check on your own improvement
-The justification for raising your prices - has the quality of the product gotten better?
If you want to chat more about this topic, I would love to continue this conversation with you, over on Instagram!
To learn how to earn $5k per month as a podcast manager (without taking on a million clients!) grab a seat in our free masterclass at http://laurenwrighton.com/masterclass
SHOW NOTES: https://laurenwrighton.com/episode176
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