Price Increase Strategy
You've been at the same rate for two years. You know you're undercharging, but raising prices feels risky—will clients leave? A price increase strategy is a planned approach to raising prices without losing the clients you want to keep. Typically: grandfathered clients keep the old price (or a modest bump); new clients pay the new number. You decide the number, announce the change, and stick to it.
Same value, new price. A coach at $200/session raises to $275 for new clients. Existing clients stay at $200 until they pause or cancel—then if they return, they come back at the new rate. A consultant who's been at $15k for the "Diagnostic + roadmap" moves to $18k for the next engagement. Raising prices is a decision, not a negotiation. You're not apologizing; you're aligning price with value and with your capacity.
Decide the number. Announce the change. New clients pay the new price. Grandfather existing ones if you want.
How to do it
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Set the new number. Use value pricing logic: what's the outcome worth to the client? What's your capacity worth? Pick a number that reflects that. Don't anchor to your old price—anchor to the value.
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Grandfather or not. Option A: existing clients keep current price until they churn; new clients pay new price. Option B: everyone moves to new price on a date (e.g. 60 days notice). Option A is gentler; Option B is simpler. Choose based on your relationship and how much you need the bump.
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Announce clearly. "As of [date], my rate for new engagements will be $X." No long justification. If you're raising for existing clients, give notice: "Starting [date], monthly retainer will be $Y. You're welcome to stay at current until then."
What breaks
Apologizing or over-explaining. "I'm sorry but I have to raise prices because…" invites pushback. "My rate for new work is $X as of [date]" is clear. You're not asking permission.
Raising without clarity on value. If you can't articulate why you're worth the new number (outcomes, niche, authority), clients will resist. Positioning and authority building support price increases—do that work so the number feels justified.