I remember when I first charged $1,000 for a logo design.
There was a sense of giddy euphoria – followed by a disturbing dumping of dread.
What had I done?! I worried.
… And was it about to ruin my business?
The answer, in hindsight, was a big, “Hell no.”
In fact, I probably should have increased my prices even more.
But back then, I was upgrading from a logo rate of $300 … so $1,000 was already a 300% increase.
(No wonder I was shaking in my Birkenstocks.)
I was worried, naturally, that nobody would pay that much for a logo. Not because I wasn’t good, but because it didn’t seem like a great investment.
Just like I don’t enjoy paying out hard-earned cash for new car tyres or electricity, there are just some things we need to invest in, even though they don’t seem like “fun” purchases.
Which made my price increase scary … but necessary.
The alternative – working like a mofo losing weekends and sanity but still being broke af – was no longer an option.
I was craving change, and it was time for better clients and mo’ money.
After all, nothing changes if nothing changes, right?
The thing is, I put my prices out there and people booked me.
In fact, I became booked out!
And just because spending cash on a logo didn’t seem fun or necessary to me – because hello I’m a designer – it wasn’t like that for everyone else.
Every day, a client was telling me how much fun they were having with me. How exhilarating it was to receive their proofs. And how fulfilling the experience had been.
And it made me realise I was not my ideal client.
Read that bitch again – I was not my ideal client.
But the people that were? They didn’t care about my pricing, because they LOVED working with me.
So today I am emailing you to tell you to increase your prices.
Yep. Do it.
It is a new financial year in Australia soon, which is the perfect time for a price hike. And I’m telling you this now so you can get over the fear and get your audience and clients onboard for June 30th.
But wait, why should you increase your prices?
Easy: Because you are worth more.
“But, Anna, you don’t even know what I charge …”
Well, I don’t need to know. Because I am 90% sure it’s not enough.
I can rant and rave for days about you worth and value, but instead of boring you, why don’t you check out this Designer Value Guide here instead.
And in case you need a little extra nudge to increase your prices, keep in mind that charging more means you get to work less.
How does that sound?
Increase your prices so you can work with fewer clients but make MORE money!
I know this seems like a fantasy, but think about it logically: What if, instead of working with four clients who pay you $250, you just worked with one that paid $1,000? #genius #yourewelcome
What will happen when you increase your prices?
#1. People will want you more.
Just like you can buy a terracotta pot from Bunnings for $1, or you could buy the Tiffany & Co. version for $175. My head knows that it’s outrageous to pay $175, but my heart says, “Wow, that must be one special pot and totally worth the money!”
People buy with emotion.
And by pricing yourself higher, your audience will assume you are expensive because you are the best.
A pretty great assumption, if you ask me!
#2. You’ll attract better clients.
If you sell your soul for $50, you can expect your clientele to undervalue you. Nit-pickers, penny-pinchers and problem clients are attracted to the shallow end of the design pool.
However, if a client is willing to spend the big bucks on you, the chances are high that they’ll value your work more and do their fair share to co-operate with your process to make it a successful design relationship.
Ready to increase your prices? Don’t forget to communicate your value!
Raising your prices is all good and well (and I assure you there are people out there that will pay it) but …
You need to hold up your end of this deal and make sure you communicate the value you offer your clients.
You can do that by:
- Nurturing & educating them with content marketing (blogs, newsletters, social posts, content freebies).
- Creating a website and brand that reflects who you are, who you work with and why you are so damn special.
- Explain your process in detail.
Don’t know where to start? I have a whole blog post on this very topic here.
So take the leap, lady. I know you’ll feel scared. I know you’ll feel like a fake. And I know you’ll be terrified nobody will work with you.
But give it a go.
These new prices are not a tattoo. They don’t have to last forever …
Although I hope you give them a fair go for a couple of months before freaking out completely!
When you’re ready to hit the ‘go’ button on your price increase (totally cheering for you!), your next step is to send an email to your peeps letting them know.