How a freelancer can increase the value of their services
In the world of freelancing, everyone has gone through a "newbie" phase, and most initially worked at rock-bottom rates. Over time, more expensive assignments began to appear. However, it's not uncommon for a specialist to stop at some point, hitting the so-called "glass ceiling."
This barrier hinders financial growth. Even as the freelancer gains experience, improves their skills, and builds a client base, they continue to sell their services at the rates they were three years ago. Since the freelancer is their own manager and director, at a certain point they must decide to raise their own salary. But how can they do this without losing clients?
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A true professional is not afraid of dumping
New freelancers are willing to start with "practically free," which is often beneficial for clients. Due to intense competition in some niches (copywriting, translation, advertising, etc.), the price gouging is quite noticeable. And that's bad. Marketplace workers suffer the most from the constant decline in average prices. After all, it sometimes feels like clients aren't paying attention to exchange rate fluctuations and rising prices. But the more people enter the freelance market, the more the price gouging increases. Unfortunately, that's how any market works.
However, true professionals needn't worry: there will always be work that pays well. But how can you sell your services for more? You need to become a top performer in your field. And to achieve this, it's vital to have a unique offering that will allow you to stand out from the competition. After all, a forward-thinking employer (a freelancer's client) will choose only the one offering from a multitude—the one that offers the highest value to them. So, as the saying goes, just be the best, stand out. Expertise and uniqueness allow you to charge a higher price for your services.
A clear example of how a unique offer “works”
Imagine the same thin, lightweight laptop model costs 16,000 UAH in one online store and 19,000 UAH in another. Both stores offer installment plans, but the more expensive model sells more frequently. Is it a paradox? No. And here's why.
The first store will sell you a gadget, thank you for your purchase, and that's it. But another will offer an additional option: for example, a year of service. Free. The buyer is faced with a choice: save 3,000 rubles but constantly worry that the laptop they need for work might break down at the most inopportune moment, or pay a small extra fee but save yourself the hassle.
Since a year of free service is more profitable than simply saving 3 thousand, the overwhelming majority of consumers will prefer to purchase from a second store, despite the higher initial cost.
Increasing your self-worth is not scary
Many people are literally terrified of raising their rates. Their imagination conjures up unpleasant images of terminating their relationships with regular clients due to their unwillingness to pay more. But this is an imaginary fear that must be overcome. An experienced professional who has worked with several clients over the long term should be aware of changes in the labor market. Periodically, it's important to assess how your rates compare to the general "temperature in the ward."
To do this, simply look at your colleagues' profiles and compare prices. But it's also important to analyze their expertise. In copywriting, for example, in this niche, the services of authors who professionally write on medical, legal, and technical topics are valued above others. Serious clients are willing to pay more for their expertise to a professional cosmetologist, an experienced fitness trainer, a knowledgeable teacher, or an advanced web designer.
But even for such professionals, the glass ceiling still exists. So if you specialize in a narrow field, regularly engage in professional development so you can confidently and justifiably raise your prices. And the internet, as we know, offers countless opportunities for development and professional growth: courses, trainings, master classes, marathons, etc.
Don't forget the importance of "quality packaging": convenientwebsite- a business card, a compelling portfolio, a simple and clear order form, etc. Furthermore, a freelancer who meets deadlines, is correct, polite, and knows how to deliver high-quality work will have more confidence to justify higher prices.
By the way, is it necessary to explain the reasons for the tariff change to the client? Generally speaking, no. Inflation, personal circumstances, and utility bill increases shouldn't be used as arguments. It's better to convince the client with the new quality of service, advantages over other providers, and the benefit to the client.
So, come up with a unique proposition that will help you stand out from the competition, and announce new rates. Increase your value and feel confident!