Want to know how copywriters negotiate a rate increase? The truth is if you know what you’re doing, you don’t have to negotiate.
Copywriters are some of the best paid people on the planet. Copywriting rates vary, depending on the type of copy being written. Some copywriters earn 6 figures or more a year. Their ability to write persuasive copy is valuable to businesses because it creates revenue for the business. Copywriting is basically sales in print.
Business owners know the value of copywriters. They help increase sales. No sales means no revenue. And no revenue means a business will go bankrupt. A good copywriter helps to solve this issue. They write a sales page or email to promote an offer. And if it’s written well, the business owner can almost guarantee a return on investment.
Negotiating copywriting rates comes down to how much value you deliver. The more revenue you can generate, the more you get paid. Delivering more value is one way copywriters can negotiate a rate increase. The more value they can deliver, the more leverage they have during the negotiation.
The problem is that many copywriters do not know this. They settle for low paying gigs and then complain when they’re not making 6 figures. If you want to make 6 figures as a copywriter, you need to deliver a lot of value. That means writing for people who can afford to pay you more.
If you want to know about how copywriters can negotiate a rate increase, read on.
A Valuable Copywriter Is A Well Paid Copywriter
People who deliver a lot of value get paid very well. Rate increase negotiation is about how much value you can deliver. A copywriter who struggles to bring in high income is most likely not delivering a lot of value.
This can be because of many factors. The copywriter could be bad at what they’re doing. The client may not know how to leverage good copy. Or the offer does not resonate with the market. These are all factors that affect how much value you can deliver.
But sometimes it’s not the copywriter’s fault. Let’s say the offer could be performing badly because the product doesn’t work and has horrible reviews. If there is no demand for the product, it doesn’t matter how good the copy is. People will not even bother to read the sales page. As a result, that impacts how much value you can deliver as a copywriter.
Copywriting is just one part of the sales process. You cannot judge a product’s performance based on copy alone. This is why experienced copywriters charge a flat fee plus percent of sales. Charging a flat fee plus commissions allows them to lower their risk. If the product does not perform well, they still get paid for their time.
If you want to provide value to others, you must value yourself first. Unless you value your own time and abilities, you cannot expect anyone else to do the same. The most successful people are the ones who know what they’re worth. If you don’t know the answer, what makes you think your prospect will?
Finding The Right People Is How Copywriters Negotiate A Rate Increase
Copywriting rates will vary depending on whom you are providing value to. A copywriter will be able to deliver more value if they are working with the right people.
For example, let’s say you are a copywriter. The product you are selling is an online training program that teaches people how to get rich. It costs $1,000. This means if your copy converts just one buyer, you help your client generate $1,000.
Now compare that to a similar product that costs $100. You would have to convince 10 times more prospects to deliver the same amount of value.
Finding the right clients is just as important as being good at copy. You can deliver more value by doing the same amount of work. This is important to understand how copywriters negotiate a rate increase.
Clients with high-ticket offers will be more open to rate increase negotiations. This is because you are generating them so much money. The amount they pay you is negligible to the value you can deliver.
This is a win-win situation. The more value you can deliver, the more income you generate for your client. The more your client pays you, the better you will perform. When one person profits, so does the other. That’s the secret to succeeding at rate increase negotiations.
A Surgeon’s Mindset For Gaining Leverage During Rate Increase Negotiations
Knowing how copywriters negotiate a rate increase provides you leverage. When you have leverage, you can create terms and conditions that are in your favor. Your prospect’s will be afraid to say no because they’ll be afraid of losing something valuable: you.
Take surgeons for example. A surgeon is another high paying career. Many surgeons make anywhere from $100k – $600k/year depending on what they are good at.
Do you think surgeon’s have problems when it comes to rate increase negotiations? Or do they have the power to call the shots? The truth is, they can charge whatever price they want. No matter how high their rates are, there will always be people who are willing to pay them.
This is because their skills are so valuable. Very few people in society have the skills to operate on another person. They may faint at the sight of blood. Or have shaky hands. A surgeon is a specialized professional. They are the best at what they do.
Becoming a surgeon is not easy. You have to go through many years of education. You have to fail over and over until you learn the right way to do things. And as you may know, very few people are willing to embrace failure and learn from it.
As a result, surgeons are highly paid for their time. If you want to know how copywriters successfully negotiate a rate increase, you need to think the same way. You need to think of yourself as a copywriter with highly desirable skills. If your prospects won’t pay you what you’re worth, find someone who will.
The SW Formula For Succeeding At Copywriting Rate Increase Negotiations
You need a certain mindset to succeed at rate increase negotiations. This mindset is known as The SW Formula. It stands for:
- Some Will
- Some Won’t
- So What?
- Someone Is Waiting
Knowing how copywriters negotiate a rate increase is one thing. Getting your client to accept your terms is another. This is the first part of the SW Formula: Some will.
Some clients will say yes. These are the ones you want to do business with. They understand you can provide them with value. And you understand the more value you provide, the more you will earn. You don’t have to explain your services to them. They intuitively get it and want your expertise.
These are your dream clients – the ones you want to look for. They are the ones who your skills provide the most value to. They will have high-ticket offers that are in demand. If you are good at copywriting, your sales copy will generate a lot of revenue. That means you can provide a lot of value to them.
Like anything you pursue in life, there will be failure. This is the second part of the SW Formula: Some won’t.
Not all clients will agree to your rate increase negotiation terms. They may think you are charging them too much. Or that they can find someone cheaper. And that’s okay. You need to understand that some clients won’t say yes.
Most people struggle with rejection. They think they are the reason their clients say no. In reality, it has nothing to do with you. This is a principle we teach all our students.
Closing a sale has NOTHING to do with you. There are so many variables at play. You cannot always put the blame on yourself when things go wrong. It could be because your prospect does not have the money. Or it is not a priority right now in their business.
Understand that some won’t. Accept that people have the right to say no. It is not your responsibility to get your clients to say yes. You shouldn’t care if you succeed or fail. The only thing you should focus on is playing your part.
You tried to negotiate a higher copywriting rate only for your client to say no. This is where the third part of the SW Formula comes in: So what?
You didn’t get the sale. So what? Your sales page didn’t convert. So what? You can’t find your dream clients. So what? It doesn’t mean anything.
Remember that you have no control over your prospect’s decisions. As a closer, your job is to present your offer and show them the benefits. Once you’ve done that, everything else that happens afterward is out of your control.
The problem is that people like to control the outcome. They think “If I say this, I’ll get the prospect to say yes!” And when the outcome is not what they hoped for, they get down and depressed. They blame themselves and think they are lousy at closing. This is the wrong mindset to have.
You want to have a mindset of non-attachment. This means you are not attached to the sale. Whatever outcome occurs does not matter to you.
You closed a client for a $10,000/month retainer. So what? It is just another day in the life of a high income copywriter. How you interpret things is how you will react to them. This means understanding how interpretation awareness affects negotiations.
Interpretation Awareness: How Copywriters Can Successfully Negotiate A Rate Increase
Interpretation awareness is about being aware of how you are interpreting things. As Napoleon Hill said: “Whatever the mind can conceive and believe, the mind can achieve.” This means your beliefs play a big role in influencing success.
For example, let’s say you are driving in traffic and someone cuts you off. If you get road rage because of that incident, you are allowing their actions to control your actions and your mood. This means you will always be a slave to others. Small things will set you off.
Now let’s say someone cuts you off, but you see a pregnant woman in the backseat. Now, your interpretation might be, “This man is rushing his pregnant wife to the hospital.” As a result, you do not get angry because there is a reason for his actions.
This is an important concept in everything you do. You need to be aware of how you interpret what’s going on around you. If you are not actively aware of how you interpret things, your emotional state will fluctuate.
It is like going through life on an emotional roller coaster. One minute you are happy and loving life. The next minute, you are down and depressed. Then, you’re back to being happy. Wouldn’t you feel exhausted from having to switch between so many moods? Isn’t it much better to be happy all the time? Contrary to popular belief, being happy all the time is possible.
It all boils down to interpretation awareness. If you think the prospect said no because of you, you will feel down. If you don’t care about what the prospect says, their response will not affect you.
Take charge of your own life. Be aware of how you interpret things, and your life will get better.Whatever the mind can conceive and believe, the mind can achieve. - Napoleon Hill Click To Tweet
Someone Is Waiting
The fourth and last step of the SW Formula is being aware of one fact: Someone is waiting.
This is a concept few people understand. If they did, they would not care about outcomes. They would not care if the prospect says yes or no. The problem is that people get so caught up about one prospect that they forget that there are many others waiting for them.
Your client says no during the rate increase negotiation. So what? It doesn’t matter because someone else is waiting for you. Someone who can afford to pay you what you’re worth. Someone who understands the value that you can bring to the table. And there will always be someone waiting.
The needs of the marketplace change. Some businesses grow, and some businesses shrink. Copywriters on their team may quit or go somewhere else. As a result, they need someone who can fill that position. Someone who is good at what they do and who understands how copywriters negotiate a rate increase.
These scenarios happen around the world. This means things are always changing. Someone is always waiting for an opportunity. And if that opportunity happens to be you, it’s to your benefit.
Don’t get so caught up trying to close one prospect that you forget this concept. If you are attracted to someone but they reject you, move on to the next person. People with a poor mindset allow rejection to hinder their success. Instead, put the past behind you and move on.
A surgeon does not worry if someone complains about their prices. They know another buyer will soon come along – someone who will pay what they’re worth. Remember that success does not wait for anyone. If you want to catch up to it, always keep moving forward.
Learn How Stay At-Home Copywriters Make 6 Figures A Year
These principles will help you understand how copywriters negotiate a rate increase. Copywriting rates vary depending on many factors. Some factors are the value you can deliver, the needs of the client, and the demand for the offer being presented.
A surgeon gets paid 6 figures because they provide massive value. A human life is priceless. As a result, surgeon’s have a lot of negotiation leverage. This allows them to charge whatever they think is right.
Being too attached to one prospect is bad. It shows you are needy. Instead, you should have a carefree mindset. You should not care about the outcome of a negotiation. If they say yes, it means you two are a good fit, and that is to your benefit. If they say no, it has nothing to do with you. Move on and find someone who will say yes.
Understanding how copywriters negotiate a rate increase is important to being paid what you’re worth. Some of the best copywriters in the world are able to generate a full-time income working from home. They don’t have to take orders from a boss or put up with office politics. They are free to live life as they please.
Copywriting is a high-income skill. It is a skill that can generate money regardless of the economy. Pandemic’s such as COVID-19 do not affect copywriters negatively. All they need is a laptop and internet connection. As a result, many of them work from home. Some even bring their work with them while on vacation.
For many people, this sounds like a dream come true. If you want to change your reality and make your dreams come true, copywriting is an essential skill to have. Learn how you can become a 6 figure copywriter here.