#327: Raising Your Fees In a Recession

When we’re in a challenging economy, most of us operate from a place of fear.

And fear causes us to either keep our fees the same or to lower them.

But I have a different recommendation for you today. I’m going to challenge you to RAISE your fees—starting today!

Now, before you start thinking I’m crazy and out of touch, hear me out. Because there are many ways to do this wrong … and only a few ways to do it right.

In this week’s short podcast episode I detail 3 ways to raise your fees effectively … even in a difficult economy.

It’s all about thinking of the challenge differently and in a more creative way.

Give this one a listen. I think you’ll walk away with some good ideas.

[00:01:06] Ed Gandia – I challenge you to raise your fees by 10% to your next prospect, not client, prospect, prospective client. Prospects don’t know what you charge. you’re new to them. So once you scope out the project, ask yourself what you think you need to charge.

[00:02:03] Ed Gandia – The second thing I recommend you do to raise your fees is to start thinking in terms of bundles. So think through the top 2 or 3 projects that you typically work on. then what I want you to do is take some time to brainstorm ancillary or related deliverables you could offer your client.

[00:03:42] Ed Gandia – So here’s my final idea. Offer an advisory or strategy engagement to clients if and when it makes sense. There are lots of possibilities here, but here’s one quick example. Let’s say the the clients or the prospects challenges is they’re not sure exactly what they need. They know they have a problem, but they’re not sure how to solve it with content or copy.

Key topics and bullets

Primary Topic: Three Strategies to Raise Fees

1. Strategy 1: Increase fees for prospective clients

  • Recommending raising fees by 10% to 20% for new prospects
  • High success rate in getting the prospective clients to accept the higher fee

2. Strategy 2: Bundle services

  • Brainstorming additional deliverables to complement the main project
  • Offering bundled packages with a range of involvement and deliverables
  • Increasing the perceived and actual value of the bundle, allowing for higher fees

3. Strategy 3: Offer advisory or strategy engagements

  • Providing advisory or strategy sessions to clients who are unsure of their needs
  • Charging for in-depth consultations and recommendations
  • Highlighting the value of clarity and actionable plans for clients


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