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Increase your freelancing pricing

Updated: May 9, 2022

Increase your freelancing pricing, ensure that you get paid every month, and earn more money.

Increase your freelancing pricing, ensure that you get paid every month, and earn more money.

In many aspects, 2021 has been a difficult year for freelancers. However, if you grab the nettle, 2022 may be the best year ever for your freelancing career. Therefore, getting a grip on your money and maximising your prospective profits and income is a crucial element of that.

1. Recognize your worth.

For years, many freelancers maintained the same pricing. But that's absurd since the longer you work, the better you'll get at your job, so you should be charging more. Acknowledge this, and you'll be able to confidently raise your charges. This suggests you're willing to walk away from existing clients if they complain about the increased pricing.

2. Study the industry.

How do you know when it's time to increase your prices? Part of it is a matter of trial and error. Only by asking clients if they are willing to spend more will you learn whether they are.

3. Market your rate increase.

Put yourself in your client's position while increasing pricing. What are they getting in return if they're going to spend more money?

Discuss the process, milestones, strategy, and benefits, among other things. Also, always send them a good PDF proposal that is tailored to them. Demonstrate that you appreciate the client's time as much as they should value yours.

4. Keep your costs under control.

Increasing your fees is, of course, simply one approach to earning money as a freelancer. You may also generate more money by examining your overheads and ensuring that no money is being wasted on items that are no longer required. As a result, maintain a focus on your expenditures.

5. Be prepared for payment challenges.

It's pointless to convince your clients to accept a higher fee if you're then cash-strapped because your invoices aren't paid on time. This is usually done not out of malice, but due to inefficiencies in the organisation. So get ahead of the game right now.

6. Produce detailed invoices

It's simple to point the finger at the client. However, many invoices are not processed on time because vital information is missing. Make sure everything is right and included for them so they can't postpone it by submitting an inquiry.

7. Consistently send invoices

Ensuring the invoice is sent out on time is just as crucial as the invoice itself. Although this is a debatable point of view, many freelancers make matters worse for themselves by sending bills that are incomplete and do not come on time.

8. Make your finances more automated.

We all make promises to ourselves that we'll stay on top of our invoicing, but life stands in the way. When you're swamped with freelance work, keeping track of your finances might be difficult. That's why the vast majority of freelancers rely on online accounting software to relieve stress and ensure that no critical details are overlooked. It's also beneficial if the accounting software you're using is compatible with the other applications you use.

9. Incentives for upfront payment

Many freelancers avoid late payment issues by charging a portion or all of the money in advance. If you're not yet secure enough to insist on it, provide clients with an incentive to do it on their own time.

10. Impose late fees

Pretty much every single creative we spoke with agrees that late fees should be charged to clients for late payments, and that this should be stated clearly in your initial invoice. It's also a good idea to keep the master version of your work until you get paid.

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