This is perhaps one of the most sensitive topics within the consulting world - how to raise your rates without losing clients.
Adjusting prices in your consulting business can be a daunting task, whether you're in marketing consulting or another field. The challenge is that price increases can often lead to dissatisfied clients, or even worse, loss of clients. 😮💨
But it doesn't have to be this way.
My partner, Nikolai Pedersen, CEO of PL & Partners, guest posts on the blog today to enlighten us on this complex subject. In 23 minutes and 51 seconds, Nikolai shares insights and considerations on how to effectively raise prices in a consulting business.
In the video, Nikolai delves deep into how you structure your pricing model, as well as the pros and cons of various pricing structures like hourly-based, value-based, and combinations thereof. He also discusses how to structure and update your pricing model for new and existing clients.
It's essential to remember that price increases don't necessarily have to mean dissatisfied clients.
It's all about communication, value, and timing.
You can watch it here.
(If this embed doesn't work, click here)