58: The Anchoring Effect

Hey — it's Temidayo.

It's a new week, and I will show you another way successful freelancers command higher rates without scaring clients away.

Let’s get into it.

? - The Anchoring Effect

There is a type of psychology in which when people see a number - any number - related to price, that figure sticks in their head and becomes a reference point for judging all other prices.

That is, if you start by mentioning a high price for your service, suddenly your “standard” rate seems a lot more reasonable by comparison.

Many top freelancers leverage this psychological trick to pull in premium clients. And you can do that too.

For instance, as a content writer pitching to a potential client... Instead of starting with “My rate is $500 per blog post,” you could say something like:

“For a comprehensive content strategy service, including SEO, I offer a premium package at $2,000 per post. However, for just blog writing, my standard rate is $500 per post.”

See what happened there?

That $2,000 became the anchor. Now $500 doesn’t seem nearly as expensive. In fact, the client might even feel like they’re getting a good deal...

And NO! This isn’t about being deceptive.

It’s about framing your value in a way that makes sense to clients. You’re still offering the same service at the same price. You’re just 'packaging' it.

The good thing is, that you can use it anywhere: in proposals, on your pricing page, during sales calls, etc.

Just make sure your anchor price is still within the realm of reason for your industry. If it’s ridiculous, you risk losing credibility.

That’s all for this week.