“Get more clients” is the first thought freelancers have when they think about increasing their income. For the purpose of this post, let’s forget that finding new clients isn’t easy. Let’s assume that you can get more clients if you want them.
But here’s the thing: Can you afford to take on a new client? You’re probably already working at full capacity. If there was room for a new client, you’d have taken them on by now whether you needed additional income or not.
Luckily, there are ways freelancers can increase their income without going through the hassle of finding clients they can’t afford to take on.
1. Raise your rates
A simple way to earn more without taking on more clients is to raise your rates.
Unfortunately, most of us are scared of raising our rates. What if I lose my current clients? What if I raise my rates and no one hires me?
Luckily, there are ways to make a raise in your rates painless.
Start small – Increase your rates gradually. Don’t go for a 25% increase, but opt for a figure between 5%-10%. This way, it won’t cause a big ripple with your clients.
Give them plenty of notice – Don’t raise your rates and put them in effect immediately. Give your clients plenty of warning. Most freelancers give at least a 30 days’ notice. Personally, I feel a 60-90 day notice is better.
Raise them only for new clients – If you don’t want to rock the boat with your current clients, raise your rates for new clients only.
2. Run promotions
If raising rates isn’t something you want to get into right now, running promotional offers is the next best thing.
Bundle up a few of your services and offer them at a slightly lower rate than your actual one. Make it time sensitive so that your client’s don’t put your offer on the back burner.
You can run promotions even when you’re raising your rates. Offer your clients their old rates for 6 months if they sign up a long term contract with you and pay part of the money upfront.
Running promotions is a good way of landing more work and booking yourself in advance so you won’t have to worry about finding work for the coming few weeks or months.
3. Complimentary services
Compare the services you offer and the actual work you do for your clients. Chances are you’re doing more than what the client is paying for.
As a freelance blogger, I would be hired to blog for my clients. What that also meant was that I ended up coming up with my blog topics.
After spending hours brainstorming post topics for them, I decided to create blog content plans for my clients and include them in my service. Now I offer blog content planning service and most of my clients opt for it. Since it’s not expensive, they don’t have any qualms about paying for it.
4. Creating passive income
Creating passive income streams is something every freelancer should look into. Not only do they increase income, but they also provide a cushion for the work famine every freelancer goes through.
Passive income can be made from information products such as ebooks, PLR content, courses, reports, etc.
5. Partnering up
Partnering up with another freelancer who offers a completely different set of skills than yourself is another way of increasing your income.
Freelance writers often partner up with web designers and developers whose clients often ask them if they also do copywriting.
Similarly, you can partner up with social media consultants whose clients want them to write their updates, blog posts etc. for them.
Partnerships also work great in terms of creating passive income streams. Two heads are better than one so collaborate on an ebook, membership site or anything that you can create and sell.
Have you increased your freelance income without taking on more clients? What did you do? Comment and share your thoughts!
Great ideas, Samar. I am working on that passive income part. Now if I would just finish it. 🙂 Like you suggested, I created a few packages. Clients and prospects love them because they feel they have a choice and I like how it adds value to what we do.
Thanks Cathy!
Yeah, packaging my services turned the tables for me too. Suddenly, clients were taking me up on retainers and signing me on for 6 months as their blogger.
I recently released an ecourse and i have to say it’s definitely making a difference. Don’t expect to make big bucks but every week there’s money trickling in that I wouldn’t have made otherwise.
Good luck with your project! Let me know if I can help in any way 🙂
You always have great, practical Ideas, Samar. I need to dream up something for the passive income stream…the only question is finding something other writers aren’t already offering.
I know some freelancer writers who dabble in graphic and web design and some offer social media management services. These complimentary services are great ways to increase your income as a freelance writer.
Hey Amanda,
Yeah, I’m a firm believer in offering complimentary services, I offer content planning and blog editing services to go with my blogging. I was doing all of that for my clients already and losing 4-5 hours on it every couple of weeks. So I turned them into complimentary services that don’t cost all that much and clients know not to take it for granted either.
Love this posting. Creating passive income and running promotions are my key to staying normal and keeping things in the positive more than ever before.
Love this article. Got an idea about starting my own passive income. Thank you for sharing this.
A great way to flag the increase in price with them is to give them 1-2 months notice and that if they have any additional work they want you to do, that they should book it in now, and you’ll honor their existing rate. This is a great way to boost your business income.
You’re right Foster. That’s a great way to bring in some immediate income if you have open hours before the new rate would kick in.
Great ideas! I like the ‘raise rates’ part. I guess there’s really nothing wrong about increasing one’s rate especially to repeat clients. They keep on coming back to a writer’s services because they are satisfied with the articles. We, writer’s really deserve a raise, you know!
Definitely! These are really great and effective ways. Love them!