Raising prices - how and when

[spelacvajnar]

I want to raise my prices a little so I don’t work for scrapes. 😅
Any advice? Share your experience if you raised your prices before. 🙂

[fastcopywriter]

I like to raise my prices by $10 to see what happens. I’ve also learned not to lower them too much.

For some reason, buyers today are scared of low prices. They see a $5? That scares them. They see a $10 or $20, they start feeling more confident. Of course, if you’re going to charge $50 or $100+, then you need amazing reviews and gig rating. If my gig rating is 4.6, I can’t charge the way someone with a 5.0 or 4.9 can.

On the other hand, I know a competitor with a 4.7 who charges double and triple what I charge, and he’s doing amazingly well. So you never know.

My recommendation? Raise your prices for one week and see what happens.

[donnovan86]

I like to raise my prices by $10 to see what happens. I’ve also learned not to lower them too much.

For some reason, buyers today are scared of low prices. They see a $5? That scares them. They see a $10 or $20, they start feeling more confident. Of course, if you’re going to charge $50 or $100+, then you need amazing reviews and gig rating. If my gig rating is 4.6, I can’t charge the way someone with a 5.0 or 4.9 can.

On the other hand, I know a competitor with a 4.7 who charges double and triple what I charge, and he’s doing amazingly well. So you never know.

My recommendation? Raise your prices for one week and see what happens.

That depends on the type of work you are doing. In some fields raising the prices from $5 to $10 will usually bring you half the number of customers or way less. Other times increasing prices might help. So it all comes down to the category I guess.

[writingdruid]

Hi @spelacvajnar, I’d advise you keep your basic gig at entry price and raise prices on standard and premium. The best way to raise prices is to provide your range of customers with options. And clarifying what you offer with each package as best you can.

Note: If you’d raise price suddenly, for some time, you could have a short PS in your gig description justifying the change.

[graphtersawyer]

I raised my prices a little after each level up, but I’ve seen people do it based on average orders in queue and popularity. That’s probably the best model.