How To Ask For More Money As A Freelancer? [Free Templates]

Stop right there!

Before you ask for more money as a freelancer, let me ask you a question…

Are you worth more than you previously were?

If not, don’t worry. There still might be some rationale behind asking for more money:

• You’ve realized your rate was too low in the first place
• The cost of living has increased

That’s about it, as far as I’m concerned.

So, you better have a good reason for asking for more money as a freelancer.

But that’s the whole point, right?

We raise our rates when we know we’re worth more.

This might be for one of (or more than one of) a number of reasons:

• You’ve improved your craft
• You’ve completed a certification
• You’re in high demand
• Your rate hasn’t increased in the last X amount of time

Note: time-based rate increase requests are only effective when combined with one of the other three.

Time doesn’t always equal rationale for an increase. Though, in a lot of cases it can.

Plenty of freelancers raise their rates on an annual basis. You can use this as a reason for customers to extend a retainer or pay upfront for a new project ahead of the deadline.

“My rates are due to increase by 10% in March 2024. To lock in the 2023 rate, shall we sign a new contract this week?”

Tracy Rawlinson, a freelance writer, uses this template to inform her clients about her price increases:

Hey xxx,

I've loved working with you over the past XXX. It’s awesome we’ve achieved XXXX together.

I’m just popping across an email to let you know that I'm raising my rates from £XXX to £XXX from XXX

Reason is? [Well. This is the first rate increase I’ve made since we started working together back in XXX. Plus, I'm limiting the number of clients I take on to invest more time with my family or XXX]

So to confirm, my new rate will be £XXXGBP for XXX from XXX

Is this still within your budget? If so, I have space to create XXX from XXX

Let me know by XXX if you want to secure this slot.

If you have any questions, just give me a shout.

Thanks

Tracy

Amna Aslam, another freelance writer, uses this shorter template:

"I’m revisiting my business goals and will adjust rates beginning at X time. This is a courtesy email to let you know. Your current rate will remain for the next X months, after which the new rate will be reflected on your invoice."

You might even build it into your initial contract.

“Following the initial 6-month period, an increase of 10% will apply to my day rate.”

If you’re not using a regular template like this, how do you ask for money?

First up, it’s daunting. Just like asking for a raise at a 9-5 job, the person on the other end of this conversation hasn’t initiated it so you’re doing a sales job.

You’re selling why you’re worth more than you previously were.

The remainder of this blog post works through four key elements to include when you’re asking for more money as a freelancer.

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1 - Create a “Why I’m great” statement

Even when you’ve been working with a client for a number of years, it pays (literally) to remind them why they hired you in the first place.

In this part of the template, write a few lines explaining why you’re great.

If you’re a content writer who writes blog evergreen blog posts, remind them of that.

Here’s a template:

I will optimize every blog post (new or existing) as evergreen content — meaning there is no expiry date on the content so it will continue to add revenue and intangible value to your business for years to come.

I will design every form of content for both inbound traffic and converting the customer.

But you must also include why they should continue to hire you at a higher rate.

Include achievements since you started working with your client or since your last price increase.

If you’re now certified in a certain CRM, that adds value to the service you’re providing.

If you’ve completed a degree or a specialist course, you’re a different person to the one they hired in the first instance.

You don’t have to write war and peace here. In fact, bullets of how you’re different are more effective.

Here’s a template:

Since we started working together, I’ve completed the following:

• Finished my Marketing degree.
• Been published in Forbes, Business Insider, and The Times.
• Worked with (and learned from) clients like Cisco, RingCentral, and Nextiva.
• Improved as a writer thanks to Dominic Kent’s blogging course.

At this point, you’ve reminded them why you’re great, now remind them what they’re getting from you.

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2 - Package your freelance service

In some cases, clients are just going through the motions. They get your work submitted at regular intervals and don’t see the bigger picture.

That’s why it’s important to include what they’re getting as part of your service.

Blog posts are a great example here. Clients might see a final draft. But what goes into that is a whole lot of research, knowledge, and process.

Here’s a template:

Price above includes the following:

• Content strategy: how do we incorporate as many chances for the content to be viewed by the right audience?
• Content research: keyword research, topic research, expert outreach.
• Content production: the end product is a blog post of up to 2,500 words with 2 suggested titles.
• Keyword research: for US and global markets.
• SEO: copy, meta description, title, and suggested images.
• An outline pre-draft for you to approve.
• Unique, expert quotes included from influencer network.
• All research (including statistics and research reports).
• One revision included.

This is the caliber of new blog post you can expect when you hire me

Next, remind them what they’re not doing when they hire you too:

• No pension contributions
• No payroll
• No employee benefits contributions
• No holiday pay

Here’s a template:

Since I’m not an employee of yours, my rates also include the added benefits of:

• Not having me on your payroll system
• Not having other overheads of employing me in your office
• Not providing me with employee benefits (like pensions, holidays, and insurance)
• Quick turnaround times

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3 - Put yourself in your client’s shoes

Now you’ve created “why I’m great” and “what I do” segments, take a step back.

If you’re asking for 10% more, have you convinced the person on the other end of this email that they’re getting 10 more in return? 

As someone who’s hired freelance writers and been a freelance writer getting hired, it’s a completely different point of view.

My example: I was the content marketing director with a budget of $300 per post for our “run rate” articles. One of my writers messaged me to say they’re upping their rate to $400 per post.

The result? We never worked together again.

The fact of the matter was that I had a pool of other writers willing to write for $300 and they were just as good.

Not only this, that particular freelancer didn't provide me with a reason to think about. The message was matter of fact and without evidence.

I hope, for their sake, they went on to secure higher-paying clients. In some cases, it’s right to walk away from customers, especially if they don’t have the budget to meet your desired rate.

If, however, they’d demonstrated their prowess in our niche and suggested what I was getting for my extra $100 per article, they may not have lost out.

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4 - Draft your email

So you’ve reached the point where you’ve done the following:

• Written why you’re great at your job
• Reminded your client above the full service you provide
• Looked at the situation from your client’s point of view

Before you hit send on your request for more money, get a friend to review your email.

Test the water with trusted friends, with another freelancer, and/or with someone who hires freelancers.

Heck, if you want to, send me your email.

Find me on Twitter or LinkedIn and say you came from this blog post.

The point, much like viewing your request from the eyes of your client, is to remove your personal bias from the scenario.

You know you’re great. But can you convey that to the person paying for your services?

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Conclusion

While asking for more money as a freelancer is a daunting task, it happens all the time.

As you’re reading this, a freelancer is sending an email suggesting their rates are going up.

That can be a double-edged sword.

Yes, it happens all the time. It’s common practice.

But it also means hirers must thoroughly review whether they agree to your proposal.

Create a template using the examples in this post and test what works.

I wish you the best of luck.

Need help with your freelance career?

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