Increasing pricing

6 years 3 weeks ago #408825 by Melissa Zui
How often are you increasing your pricing?  I just made a small bump in pricing of only 10% and of course I had a few clients who expressed disappointment.  This is my first increase in a long time. 

I'm really interested to know how often do you increase your prices and what % increase did you make last? 


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6 years 3 weeks ago #408852 by Prago
10% isn't too bad of an increase.  Now if you just increased it last month and doing it again, then that is a different story. 

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6 years 3 weeks ago #408865 by Screamin Scott
Have your costs gone up to justify this ? If so, pass that info along to the clients. Or are you just thinking your services are worth more ? Have you priced your competitors fees lately to see if yours are in line (assuming same amount of time in the field et al ) ?

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6 years 3 weeks ago #408880 by Joves
:agree:
In any business you really need to be able to justify any increases in rates. Are these commercial clients, or the general public? I can tell you right now commercial clients are the worst about any increases, even when they are justified. Also do you have a studio that you use? And has the rent increased? Explaining something like that will help people understand. If you are increasing rates just to make more money, that is fine, but understand it may actually make it where you lose money in the near long term.
I have been working for many years in a very competitive part of the construction industry, and because of the economy, raising your rates will kill you. This is because despite the governments lying numbers, many people are just scraping by. So as I said unless it is because your costs went up I would rethink it until the economy actually gets better. Or you had better be that much better than your competitors.


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6 years 3 weeks ago - 6 years 3 weeks ago #408885 by garyrhook
I will disagree with most of the above. Customers don't care, nor want to hear about, your "problems". Your cost of doing business is your concern, not theirs. The only question is, are you delivering a product that they want at a price that they are willing to pay?

If you are not charging what you believe you are worth, balanced against what you believe your market will bear, then raise your prices.

Or, do what the airlines do, and create new fees to charge. You know, like "Photographer Oxygen Fee".


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6 years 3 weeks ago #408902 by TGonzo
You all know more about this side of things than I do.  But it would seem that Gary's response makes the most sense with me.  Are you providing the level of service that justifies them spending with you.


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6 years 3 weeks ago #408921 by effron
The customers are the ones that need to justify the level of service to themselves. I wouldn't explain a thing except the price increase. If they don't get it, find new business....(Which you should be doing constantly anyway).

Why so serious?
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