KickStart: For the (very few) previous clients who balk at rebooking due to your higher prices use Steve’s ‘Feel Felt Found’ Objection Buster Reply!💲💲💲
Outline
Introduction – Communication is Key
As the cost of materials and labor rise, you find yourself faced with a tough decision: raise prices or risk losing profits. Many residential business owners dread this moment, fearing negative customer reactions. However, with the right approach, a price increase can not only be successful but can also strengthen your customer relationships. In this guide, we’ll explore a proven three-step strategy to rebook past customers after a price hike, even in the face of potential objections.
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Know That Few Customers Will Resist
I feel like a proud parent! After all my exhortations you actually raised your prices!👍👍 CONGRATULATIONS! (You deserve it!)
Now (hopefully) you are following my 3 step sequence to rebook past customers after a price increase. Since most customers don’t even remember what they paid last time most will just automatically schedule with you again. However…
When a few OCD clients complain about your new, higher prices just reply: “On January 1st of this year we were forced to raise our prices by 4.8 percent. (Slight pause.) Hmmm… I suppose if we need to meet a strict budget maybe we could scale back your project…”
Most clients will fold by saying, “Well… I know everything is going up. So I guess just do what you did last time…” NOTE: Customers really do expect your prices to go up. (BUT they’re not going to OFFER to pay more!)
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But (very seldom) a caller will start ‘slip-sliding away’: “I don’t know… I did like the tech you sent last time. But I keep seeing these ads for $99.00. Maybe I should try them…” UH-OH! You’re losing the homeowner!
The Power of Feel Felt Found
Time to bring out Steve’s venerable 3-Step ‘Feel Felt Found’ reply!
Step #1- You warmly reply to a straying client: “Hmmm, I see that that Charlie worked for you last July, Mrs. Jones. He is one of our very best techs! Now, I understand how you FEEL. I always want the most ‘bang for my buck’ too.” (Both of you chuckle.)
Step #2- “Seriously, a few of our clients have FELT like saving a few bucks so they’ve tried the low priced operations like the company you are considering.”
Step #3- “However, Mrs. Jones, our customers have always FOUND that the quality and service just wasn’t what they wanted for their home and of course we’re happy to welcome them back! (You now smoothly slide into) Now I do have an opening next Wednesday at 10:00 with your same tech, Charlie, that you liked last time…” BINGO!
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Guarantee The Customer’s Satisfaction
BONUS HINT: If you’re still getting customer pushback explain your ‘Appreciated Client Guarantee’:💖
“Mrs. Jones, we really do appreciate your business. I’ll tell you what… (slight pause) if after (insert name of their tech) is done you don’t feel the job is worthy of our slightly higher pricing we will CHEERFULLY refund your entire payment! No questions asked! Is that fair?” Now just SHUT UP!
As the silence drags on and on even the most stubborn Price Haggler will grudgingly admit this a very fair offer and will BOOK THE JOB!👌
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Summary – Be Understanding While Knowing Your Worth
Successfully navigating a price increase can be a delicate balancing act. By understanding your customers’ concerns and employing effective communication strategies, you can minimize negative reactions and maintain strong relationships. The three-step “Feel Felt Found” approach outlined in this guide provides a practical framework for addressing customer objections and reassuring them of the value you provide. Remember, transparency, empathy, and a commitment to exceptional service are key to a successful price increase. With the right approach, you can not only maintain your customer base but also position your business for continued growth and profitability.