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How should I handle a price change with a longtime buyer?

So, I’ve been working with this buyer since October of last year on a novel. She began commissioning her novel right before I raised my prices from $0.01/word to $0.04/word. I’ve honored the original quote by doing the work for $0.01/word, but now we’re on the last chunk of this book, and she’s expressed interest in working with me on the sequel.

Problem is, I don’t know how to broach the subject of the price change with her. I don’t care whether or not she still wants to work with me after (it’s all her choice, after all), but I’m not sure of how to communicate the price change in a way that shows tact.

Any advice?

I would tell her your work is now more in demand than when you first started working with her; therefore, your prices increased on such and such a date. Nonetheless, you have honored the costs that you started with her on the current book. If she wants to work with you on another book, the prices will be…

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Exactly that but probably I would’ve add a bit of “excitement” at the beginning, with something like “it’s amazing news, glad to hear you are doing great and I’ll be happy to work with you on your next sequel. However … (and everything else what @vickiespencer said)

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I like how Miss Vickie suggested handling it.

I would be direct:

“I have been planning for a while now to raise my prices since I have more clients than I used to have. I hope we can continue to work together after this happens but I wanted to let you know in advance that starting on (give a date) my new prices will be $0.04 per word.”

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I agree with them both @graphtersawyer, like @mariashtelle1 said I would for sure thank them and express your happiness in their success but also be firm on your prices. You did a good job for this client, they trust you and want to work with you so I believe it’s more than fair you get what you’re worth :slightly_smiling_face:

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When I first decided to raise my price years ago I was so nervous for obvious reasons.
I remember saying something like “By the way, due to recent demands etc, I am
seriously thinking of raising my price in the near future. Just wanted to give you a heads up!” when delivering my gig.

I finally did so, and I’m not going to lie, there were a few people who got upset,
one person even told me I was being greedy. Ouch.
HOWEVER, it was a very, VERY small number of people who complained…like…3??

The rest of my buyers understood, one guy said “It was about time! Congrats!” or
something along that line.
I am sure your buyers will understand. :slight_smile:

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^^^ I knew this would be perfect. Very nice.

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We can’t win them all right? I think you did the right thing, bc how will you ever advance yourself if you don’t take chances? That’s what we’re all here doing right? Taking a chance we have faith in!! Good job!

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