KickStart: IF you get called out on higher pricing don’t justify. Simply reply, ‘we were forced’ to raise our prices. (And always raise prices by an ‘odd %’!)
Outline
Introduction – Proceed Fearless!
Are you considering raising your prices but worried about losing valuable customers in the process? Look no further! In this blog post, we will share tips and strategies to help you confidently raise your prices while retaining your customer base. With the right approach and communication, you can successfully implement price increases without causing any negative impact on your business. So, let’s dive in and discover how to navigate this delicate situation with finesse.
Master the Art: Raise Prices Without Losing Customers
CONGRATULATIONS! You’ve sucked it up and raised your prices! (Hopefully after using my ‘Two-Tier Trial Pricing’ to test the waters.)
Want more help? In my 3 hour, online SFS: Winning over your caller! LIVE seminar I share a complete Phone Format(script) that re-books every previous client after a price increase- GUARANTEED!👍👍 HERE are my upcoming class dates…
Remember: Don’t call out your (higher) pricing when quoting and re-booking previous customers. Why not? Because 95% of your clients don’t remember what you charged them last time! WOO-HOO!
But even so, occasionally you’ll hear these dreaded words from a past customer…
“Isn’t that more than you charged me last time?” 😲
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Leveraging Past Successes to Overcome Objections
DON’T PANIC! Instead, use the following sequence to raise prices without losing customers. (I share my entire Re-booking Previous Clients Phone Format in my SFS: Winning over your caller! LIVE seminar.)
You: “OK, Mrs. Jones, I’ve added everything to Charlie’s work order and your price will be $453.80. I do have an opening on…”
Client: (Interrupting) “Excuse me but isn’t that more than I paid last time?”
You: “Hmmmm… let me check. Yes, Mrs. Jones, your memory is correct! On January 1st of this year we were forced to raise our prices by 4.8 percent. (Slight pause.) Hmmm, if we need to meet a strict budget maybe we could scale back your project…”
Bonus TIP: Don’t raise your pricing by a ’round number’ like 5% or 10%. Instead, an ‘odd percentage’ such as 4.8% or 9.4%. These precise percentages will be much more believable to a reluctant client.
Let your voice trail off here and wait. Assuming you used my ‘Service Engineering’ procedures the last time your company worked in their home ALMOST always your client will reply…
Client: “That’s OK. Just do the same good work you did last time.” BINGO!
The Power of the Triple-F Reply
BUT if they reply: “I don’t know. I do see ads for a lot less than you’re charging.” You just fall back on the good, old ‘Feel-Felt-Found’ reply!
This approach, allows you to empathize with the client’s concerns, share similar experiences felt by other satisfied customers, and assure them of the value they will receive. By utilizing this technique, you can break through resistance and persuade even the most reluctant clients to see the benefits of your pricing changes.
RESOURCE: To get delighted clients you need simple, ‘self-paced’ employee customer service training! But NO worries!👍👍 Check out my 12 session ‘Winning on the Home Front!’ MP3 digital training course.💲💲💲 CLICK HERE to learn more…
Summary – Raise Prices with Confidence
Raising prices doesn’t have to be a daunting task that leads to customer loss. With our expert tips and proven strategies, you can confidently navigate the process of increasing prices while maintaining strong customer relationships. Remember to communicate transparently, leverage past successes, and employ the Triple-F Reply when needed. By implementing these practices, you can successfully raise prices without losing customers and continue to thrive in your business.