The 7 rate multipliers

Philip Morgan

In my work with hundreds of self-employed software developers on positioning, I've found 7 "rate multipliers".

These are things that justify premium rates. Here they are:

  1. Developing demonstrable expertise in a specific type of client's needs, jargon, and worldview
  2. Developing demonstrable expertise in using technology to solve a particularly valuable (preferably evergreen) business problem
  3. Being able to reduce risk as you do #1, #2, or both
  4. Being able to deliver results very quickly when needed
  5. Being trusted more than alternative options
  6. Demonstrating overwhelming proof that you are the "go-to person" for this problem, need, or situation
  7. Being a source of better advice than others

What about you? Is there a #8 that you would add to this list based on your experience?

Narrowing your marketing focus first--and the focus of your entire business over time--helps cultivate all 7 of these rate multipliers.

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