• Raising your prices is quite often necessary – but also quite scary.
• What if an existing client says no and goes elsewhere? What if it stops you from winning new biz?
• Leadership coach Andy Brown will be telling you why you need to be more confident in raising your prices – and how you can do it effectively.
“Agencies don’t make things, they don’t have a factory, they just have people – and a lot of the time, they undercharge as a result,” says Andy Brown.
Andy coaches people to confidently raise their prices and charge what they’re worth, and the key to that is understanding what value you can bring.
“Typically, you’ll go into a conversation wondering, ‘What do we think they’ll pay?’. Actually, you should be asking yourself what you feel the right price is for the value you’re offering.”
“It’s like selling a house. You can put any price on your house you like, but the market will decide how valuable the house actually is. With your work, clients are the ones who decide its value.”
Andy also says that agencies that are worried about raising prices should try and change their relationship with money and profit.
“You’re not charging enough, but profit is a dirty word. Quite often, you feel guilty about making a profit, or making too much profit, when really, you’re making the appropriate amount for the problem you’re solving,” he says.
Even changing the way you approach and have the conversation, trying to understand how a client may react, will make all the difference.
“It’s very easy to tell yourself that if a client hasn’t come back straightaway, they must think you’re too expensive or taking the piss. You then panic and think about phoning them up to discount the price – but you just need to give them time.”
If you’re worried about raising prices and how clients will respond, Andy will be guiding you through how to do this confidently and effectively.