Retainer Price Plateau | Ask Master Challenge

You've had a retainer client for over a year, which feels SO GOOD to know you have a consistent income, but you're aware that since you first started working together either scope has changed, or you've simply gotten better, more skills, and/or faster at what you do... aka you now know you are worth more money.

Maybe you've already increased your rates for new clients, but you feel awkward about asking for more money from a current client because you don't want to disrupt the relationship, or risk losing that consistent income.

In my experience, a client has NEVER lost a retainer when they have increased their prices. Their retainer client has either said yes with no qualms or they have changed the scope so that it fits within the price the client is currently paying.

Your ask: Consider the work that you're doing now, and how that has changed since you first started with this client. Decide on a new price (maybe you already have a price that you are charging newer clients) and draft an email to your client showing that you really enjoy working with them and how your own skills have developed over the x amount of months / years.

Detail what has changed for that client in terms of the value that they are getting, and then put forward the new price. You're not asking them for permission; you are letting them know the price is going up on X date. Give them at LEAST 30 days' notice, and you have an option to do something called grandfathering, which is where you increase the price gradually over a few months.