Key Takeaways
The Lowdown
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 %’!)
How can I raise prices without losing customers using the Feel Felt Found method?
By applying the Feel Felt Found strategy, you can validate client concerns and share that other clients have felt the same way. Then, explain how those clients found value in your services, reinforcing your professional worth.
What satisfaction guarantees can I offer to help raise prices without losing customers?
Providing satisfaction guarantees removes financial risk for hesitant homeowners, allowing them to book your services confidently, even at higher rates.
How can I suggest scaling back the scope of work when raising prices?
You can maintain profitability by adjusting the work scope rather than discounting rates, ensuring clients still receive quality service while accommodating their budget.
Why is communicating price changes directly important for maintaining customer loyalty?
Direct communication about price changes fosters customer loyalty through transparency and professional honesty, demonstrating that you value your clients’ trust while raising prices without losing customers.
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.
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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 Winning over your caller! seminar I share a complete Phone Format(script) that re-books every previous client after a price increase- GUARANTEED!👍👍
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?” 😲
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 Winning over your caller! 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.
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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.