It had been a couple years since she last raised her rates, and she knew her work was well worth it. But she worried that she’d turn her clients off and drive them away
That’s why I suggested she construct a letter in a very specific way. When she sent it, she was pleasantly surprised by the replies she received from her clients:
* “Heck yeah, you’re raising your rates. You should have done it a year ago!”
* “It wouldn’t matter what you charged. I’d be there.”
* “Thank you so much for your touching letter.”
* “It’s about time.”
Six Simple Steps and the Most Important Ingredient
Are you ready to raise your rates with ease? Follow these six simple steps to create a Gratitude Sandwich:
Step 1: Decide on the date you’re going to raise your rates
At this time of year, there’s no better date than January 1.
Step 2: Determine the true value of your hands-on services to your ideal clients.
Through our coaching together, Mindy had already set herself up for success by defining her Passionate Marketing Message, her ideal clients, and what they get out of working with her.
By understanding that value from her clients’ perspective, she was able to write a letter that very clearly resonated with them.
Step 3: Craft a letter that begins and ends with gratitude.
Open and end your letter with a message of gratitude straight from the heart.
Mindy started: “I am honored to have the opportunity to partner with you on your journey to health and well-being. I deeply respect your commitment to becoming whole, and living a full and rewarding life.”
Then she wrapped it up with: “I appreciate your support during this journey of growth, and I look forward to continuing to partner with you to help you achieve health and well-being.”
Step 4: Place your rate increase in the center, but only as a small bite.
Between the layers of gratitude, tell your readers when your new rate will increase. But here’s the most important point: DO NOT state your new fee. Instead, only state the incremental increase.
Let’s say your $85 session fee is going up to $95. That may feel like a big gulp to you. But when you say your fee is only going up by $10, it’s only a small bite for your clients to nibble.
Step 5: Encourage your clients to stock up on sessions at your current lower rate.
Offer gift certificates they can buy and use throughout the following year. That’s a gift to them—and the lump-sum payments make it valuable to you, too.
Step 6: Just send it!
Take a deep breath, appreciate yourself, and your clients and deliver your Gratitude Sandwich. Like Mindy, you may be pleasantly surprised by the results.