How to raise your prices due to the increased cost of gas
How to raise your prices due to the increased cost of gas
The best way to inform customers that you are raising your prices is to be brutally honest and justify the price increase. If it is now costing your company X% more to get your supplies shipped to you because of higher gas prices, say so. Customers will understand the situation you are in and they will continue to buy from you.
You also want to remind your customers of the benefits of doing business with you. Do you offer better service than your competitors? If yes, quantify how you provide better service (live people who answer the phone, open on weekends, open earlier and/or later than competitors, etc.). Do you offer a superior product? If yes, explain why it is superior and of higher value than competing products. Focus on the benefits of how your product or service makes your customers' lives easier. Prove to them why it is in their best interest to do business with you instead of your competitors.
I am a proponent of raising prices to show your product/service is superior and to position your company and product as being superior to your competition. There is a belief that you get what you pay for, and higher priced products and services must be of better quality.
If you are going to raise your prices, the best way to inform your customers that you are raising your prices is to be brutally honest and justify the price increase.
For example, remind your customers of the benefits of doing business with you. Do you offer better service than your competitors? If yes, quantify how you provide better service (live people who answer the phone, open on weekends, open earlier and/or later than competitors, etc.). Do you offer a superior product? If yes, explain why it is superior and of higher value than competing products. Focus on the benefits of how your product will make your customers' lives easier. Prove to them why it is in their best interest to do business with you instead of your competitors.
If you are raising your prices because of increased fuel costs, let your customers know this. If it is now costing your company X% more to get your supplies shipped to you because of higher gas prices, explain this to your customers. Your customers will understand the situation you are in and they will continue to buy from you.
How to raise your prices due to the increased cost of gas - To learn more about this author, visit Peter Geisheker's Website.
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As the price of gas continues to rise, many companies are finding they have to raise their prices due to higher shipping/transportation costs. The problem is, how do you raise your prices to compensate for your higher costs without irritating your customers? Here's how...
The best way to inform customers that you are raising your prices is to be brutally honest and justify the price increase. If it is now costing your company X% more to get your supplies shipped to you because of higher gas prices, say so. Customers will understand the situation you are in and they will continue to buy from you.
You also want to remind your customers of the benefits of doing business with you. Do you offer better service than your competitors? If yes, quantify how you provide better service (live people who answer the phone, open on weekends, open earlier and/or later than competitors, etc.). Do you offer a superior product? If yes, explain why it is superior and of higher value than competing products. Focus on the benefits of how your product or service makes your customers' lives easier. Prove to them why it is in their best interest to do business with you instead of your competitors.
I am a proponent of raising prices to show your product/service is superior and to position your company and product as being superior to your competition. There is a belief that you get what you pay for, and higher priced products and services must be of better quality.
If you are going to raise your prices, the best way to inform your customers that you are raising your prices is to be brutally honest and justify the price increase.
For example, remind your customers of the benefits of doing business with you. Do you offer better service than your competitors? If yes, quantify how you provide better service (live people who answer the phone, open on weekends, open earlier and/or later than competitors, etc.). Do you offer a superior product? If yes, explain why it is superior and of higher value than competing products. Focus on the benefits of how your product will make your customers' lives easier. Prove to them why it is in their best interest to do business with you instead of your competitors.
If you are raising your prices because of increased fuel costs, let your customers know this. If it is now costing your company X% more to get your supplies shipped to you because of higher gas prices, explain this to your customers. Your customers will understand the situation you are in and they will continue to buy from you.
How to raise your prices due to the increased cost of gas - To learn more about this author, visit Peter Geisheker's Website.
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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