At some point, your agency will need to raise its current prices. This may be because of a change in the economy, inflation, or registering for VAT. Communicating the price hike to customers in an effective way is important if you want to retain them. Luckily, as digital resellers, we have some experience that may be of use to you.
Be Clear
When you break the news to clients, be sure to send them a detailed email that outlines exactly what is increasing, by how much, and when the increase will take effect. Don’t leave any room for ambiguity. Make sure that you, as the agency owner, are the first person that they hear it from and make yourself available for any meetings or calls related to questions they may have.
Explain Why
Validating the increase in prices in your email is a good idea. When clients understand why prices are increasing, they will be much more likely to accept it and stay with your agency. Common reasons why agencies increase their prices are because their pricing is below the industry average, business costs have increased, or the agency wants to filter out low-paying clients in favour of working with more premium clients who can foot a bigger bill and who require more sophisticated services.
Perfect Your Pricing
Tell Them After Progress Reports
Lastly, be sure to let your clients know about the price increase well before it is put into action. This gives your clients a chance to assess their options and make the best decision for their business. Consider telling your clients after a round of progress meetings, where you’ve just shared the results you’ve achieved for their businesses. This will help remind your clients of the value you add to their business and make them more likely to stay with you.
Pricing your services correctly is one of the most important parts of running a successful digital marketing agency. When you work with our affordable white label team, you’ll find it that much easier to supply quality work at profit-worthy rates.
Download our free pricing guide and unpack our affordable rates for yourself!
