Latest / Freelance Careers with Fexingo: Independent Work, Consulting, and Self-Employment / How Freelancers Can Use a Client Project Retrospective to Raise Rates
Transcript
- Lucas: Let me ask you something, Luna. When was the last time you raised your rates for a client, and how did the conversation actually go? Luna: Uh, I think I dodged it for about a year, then finally sent an email with a new price sheet and held my breath. It worked, but I felt queasy the whole time. Lucas: That queasy feeling is incredibly common. And honestly, most freelancers avoid the conversation until they're resentful or the client starts hinting at leaving. But there's a way to raise rates that doesn't feel like a demand — it feels like a natural next step. I want to talk about the client project retrospective. Luna: Okay, I've done post-mortems on projects before, but more to improve process than to talk about money. How is this different? Lucas: It's a structured conversation you initiate with the client after a significant milestone — a launch, a campaign, a quarter-end — where you both review what was accomplished, what the measurable impact was, and what could be done next. The key is that you're not asking for a raise in that meeting. You're just documenting value. Luna: So you're building a case before you ever bring up pricing. I like that. But do clients actually agree to sit through a formal retrospective? Lucas: They do if you frame it as wanting to serve them better. You say something like, 'I'd love to spend twenty minutes looking back at this quarter together so I can make sure my work is aligned with what matters most to you moving forward.' Most clients appreciate that — it shows you're invested in outcomes, not just deliverables. Luna: Right, because it's framed as a gift to them, not a pitch. What does the actual retrospective look like? Do you have a template? Lucas: I do. Three parts. First, you ask the client to name the top three results they saw from the project — be specific, like 'our email open rate went from 12% to 18%' or 'we closed three new leads from the case study.' You write those down. Second, you ask what they wish had gone differently — any friction. Third, you ask what they'd want to tackle next if resources weren't an issue. Luna: And somewhere in that first part, you're quietly building a list of all the value you created. Which later becomes the justification for a higher rate. Lucas: Exactly. I had a freelance brand designer friend — let's call her Sarah — who did this with a fintech client. She'd been charging $5,000 a month for a retainer that included social graphics, pitch decks, and website updates. After six months, she scheduled a retrospective. The client said her work had directly helped them win two enterprise contracts worth $60,000 in annual recurring revenue each. Luna: Wait — $120,000 in new revenue from her design work? And she was charging $5,000 a month? That's a massive gap. Lucas: It is. And the client didn't even realize it until she asked. She wasn't being underpaid out of malice; the client just hadn't connected the dots. Sarah documented that $120,000 number, plus a 25% reduction in support tickets because her new pitch deck was clearer. She didn't ask for a raise in that meeting. She just said, 'This is what we've achieved together, and I want to make sure I keep delivering at this level.' Luna: Then what happened? She waited a month? Lucas: She waited two weeks, then sent a brief proposal for the next quarter: a new retainer at $6,000 a month, with a slightly expanded scope. She attached a one-page summary of the retrospective findings. The client said yes within a day. No awkwardness, no negotiation — because the value was already on the table. Luna: That's a 20% increase. And it probably felt earned on both sides. So the retrospective isn't a one-time trick — you could do it every quarter or every major milestone. Lucas: Right. And it becomes a habit. Every three months, you sit down, you document the value, you adjust scope or pricing if needed. It keeps the relationship dynamic rather than static. And it prevents the silent resentment that builds when you feel underpaid. Luna: What about the client who says, 'Everything went fine, no complaints'? That's a dead end for the value conversation. Lucas: It can be, but you can prompt them. Ask, 'What was the most surprising positive outcome you didn't expect?' Or, 'If you had to put a dollar figure on the time we saved you, what would it be?' Sometimes clients need help articulating the value. Another tactic: before the meeting, pull together your own metrics. If you designed a landing page that converted at 5% versus their old 2%, bring that. Luna: So you're not relying solely on the client to do the math. You come prepared with your own evidence. Lucas: Exactly. And here's the thing — if you can't find any concrete value to point to, that's a signal. Maybe you're doing busy work, not impact work. And that's a different conversation — about shifting your scope toward higher-leverage tasks before you can justify a rate increase. Luna: That's a really honest point. The retrospective doesn't just help you raise rates; it helps you see if you're actually creating value. And if you're not, you know what to fix. Lucas: Right. And I want to emphasize: this works with long-term clients too. I know a freelance writer who had been with a client for three years, same rate. She did a retrospective and discovered the client had used her blog posts to generate over 200 qualified leads in the past year. She raised her rate by 30% and the client didn't blink. Luna: Because the relationship had trust built in, and the data was irrefutable. So the retrospective is a tool for confidence, not just for pricing. Lucas: Exactly. And if today's episode was useful for you — if this retrospective idea clicks — you might want to know that the show stays ad-free because of listener support. A quick way to keep that going is to buy me a coffee dot com slash fexingo. It's a small gesture, but it helps us keep producing these conversations without interruption. Luna: Yeah, and we really put effort into making each episode actionable. So if you've gotten value, that's the way to support it. Lucas: So back to the retrospective — let's talk about the actual script for the meeting. Because a lot of people freeze up when they have to lead it. I suggest starting with: 'I wanted to take a few minutes to look back at what we accomplished together this quarter. From your perspective, what were the biggest wins?' Luna: That's open-ended. It lets the client lead. And then after they list wins, you can ask: 'And what would you say the impact of those wins was on your business?' Lucas: Right. Then you can layer in your own observations. 'From my side, I noticed that the social campaign we did drove a 40% increase in engagement, which seemed to correlate with a spike in demo requests.' You're co-creating a narrative of impact. Luna: And then the next quarter, when you propose a rate change, you're not starting from zero. You're building on a shared story. Lucas: Exactly. One more thing: you should schedule the retrospective as a recurring event on your calendar, and on the client's calendar too. Put it in the contract if you can. 'We will review progress quarterly.' That makes it a routine, not a confrontation. Luna: It also professionalizes the relationship. You're not just a vendor; you're a strategic partner who tracks outcomes. Lucas: Yeah. And clients who are worth keeping will respect that. The ones who balk at a quarterly check-in are often the ones who don't value the relationship anyway. Luna: That's a good filter. So if someone listening wants to try this — what's their first step this week? Lucas: Pick one client you've been working with for at least three months. Draft a short email saying you'd love to schedule a 20-minute retrospective call to review progress and plan the next phase. Keep it simple. Then prepare a one-page doc with your own metrics. And go in curious, not pushy. Luna: And if the client says no or doesn't respond? Lucas: Then you have a signal about how much they value the relationship. And you can decide whether to invest more energy there or start shifting focus elsewhere. But I think you'll be surprised how many clients say yes. They don't get this kind of proactive attention from most freelancers. Luna: Alright, I'm actually going to try this next week with a client I've been nervous about approaching. Thanks, Lucas. Lucas: Good luck. Let us know how it goes. And if you want more tactics like this, the show is here every week.