How do you announce your rates have changed ?
Thread poster: Julie BEILLE - FOLTZ
Julie BEILLE - FOLTZ
France
Local time: 12:53
English to French
+ ...
Nov 30, 2007

I know it's alos an art...the art of communication and here I don't really know how to announce to my clients that my rates have changed.
If you had this to handle how would you do?

Thanks for your hints.

[Subject edited by staff or moderator 2007-11-30 11:09]


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Luca Ruella  Identity Verified
United States
Member (2005)
English to Italian
+ ...
Rates Nov 30, 2007

Julie BEILLE wrote:

I know it's alos an art...the art of communication and here I don't really know how to announce to my clients that my rates have changed.
If you had this to handle how would you do?

Thanks for your hints.

[Subject edited by staff or moderator 2007-11-30 11:09]



Just send them an email specifying your new rates and start to charge them accordingly.

ciao

Luca


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Amy Williams  Identity Verified
United Kingdom
Local time: 11:53
Italian to English
+ ...
set a date Nov 30, 2007

Set a date a few months from now, tell your client that your rate will change from X to X on that day, and change it on that day. You might want to welcome comments and discussions from the client. The way they deal with the rate increase will tell you a lot about how they tick; if your new rate is justified (new qualifications, experience, etc. if beyond the rate of inflation) you should have no problems selling yourself to them. In any case, there's no need to be apologetic about it.

Have a good weekend,
Amy


[Edited at 2007-11-30 12:03]


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Astrid Elke Witte  Identity Verified
Germany
Local time: 12:53
Member (2002)
German to English
+ ...
Hurry up with it! Nov 30, 2007

Send them a letter dated 1st December telling them that prices go up on 1st January. Think of various explanations to justify the price increase. You can be imaginative and creative here! They are themselves when it comes to marketing, anyhow.

Astrid


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Giles Watson  Identity Verified
Italy
Local time: 12:53
Italian to English
Raise your rates when you can afford to lose some of your clients Nov 30, 2007

If you are providing a good service and have sufficient market visibility, customers will be seeking you out. Charge your new clients the higher rate and verify whether they accept it by giving you repeat business. If your service is up to snuff, there won't be any problem because rates are not a deal-breaking factor at the higher end of the market.

When you have enough business at your new rate, you will be losing money if you continue to give long-standing customers a lower price. At that point, you can tell them about the rise and it won't matter whether they stay with you or go elsewhere.

FWIW

Giles


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Parrot  Identity Verified
Spain
Local time: 12:53
Member (2002)
Spanish to English
+ ...
Elegant ways Dec 1, 2007

Advance notice: you can base this on benchmarking quarters (it also makes it easier for the client to "process" the hike psychologically and fit it into their budgets and computer applications). However, as Astrid mentions, one month can be enough; i.e., now is a good time to do it for 2008.

There's an expression in Spanish that says "una de cal y otra de arena" (something like "I have good news and bad news"). I've used this tack by buying nice promotional giveaways and sending them by mail along with the schedule of new rates (It pays off the first month).


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