Raising the rate conversation
You have a longtime client who still gives you work but pays a rate that hasn't been updated in
ages. You've also let the client slide on non-refundable deposits, cancellations and rescheduling at
the last minute. When the client calls with the next booking, what would you say or do?
““The joke in our industry is there are two price increases
speakers are able to achieve. The first price increase
comes when they raise their rates and the second increase
comes when you actually start quoting and sticking to
your new prices. It is very acceptable to only raise your
rates with new clients, especially if you feel your older
clients might not pay for your increased pricing.”
“I would say. ‘Thanks to people like you, I have been very successful!’ I have
gotten very busy, and here are my new ways of doing business. Then I would
give the client the new rates, business practices and tell him that you may not
be able to do business any longer as your fees have changed, thank him for the
past business and move on.”
“Not the client’s problem,
it’s the speaker’s.”
“Don’t wait for the next booking.
If I want to keep the business,
discuss the range of items and reach
a point of agreement. Either way,
raise the fee and stick to the policy
on other things.”
“Tell the client I discovered
my spine.”
“I do have a few favorite clients [and
audiences] that have been given rates
below my current fee. I’ve given
them special discounts and bartered
professional services [Web graphics]
for the difference. The determining
factors are time in my calendar and
a priority for local venues. This kind
of special dispensation is never taken
for granted.”
“I would weigh each case on its merits. If it is a longtime client whom I really
enjoy working with, I would continue to honor my old rates. If it is a client
who I feel is beginning to take me for granted or is beginning to take advantage
of me, I would consider raising my fees for the next engagement and be prepared to walk away if the client isn’t willing to pay.”
“Thanks for asking me back.
I love working with you."
“Go over all details with the client or
better still, have a conference before
the next speech. Communicate!”
“I had to fire my largest client a
number of years ago due to high
maintenance and low return on the
effort. Say thanks and move on.”
“Thank the client for his past business but let him know the situation,
i.e., increased fees. Tell him you will
accept this one—in good faith—but
for future bookings, it would be at
newer fee schedules.”
“Blame a third party. I’d say something like, ‘My wife, lawyer, accountant does not know we enjoy working
with each other and trust each other.
Therefore, I promised him/her that
from now on I’d conform to industry
standards [a good phrase to use] when
working with you. I’m sorry but they
handle this for me a”nd I promised them I’d speak to you about it.’ I would then be quiet and wait for a response.” April 2008 | SPEAKER | 11
