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Inform customers announce price increase
As a company, if you want to announce a price increase to your customers, it is important to inform them clearly. Honesty is key here. Customers also know that you do not announce price increases for your pleasure. Explain to them why the price increase is necessary and emphasise the benefits they will get, such as a larger product range or improved services. Also use the Unique Selling Propositions you have defined.
Use every conversation to your advantage
Customer is king, that's obvious. So take the time to address all your customers' questions and concerns. Announcing a price increase will often cause many customers to request a call. Use this to your advantage: emphasise how good your services are, take the time for each client, and possibly suggest new services to further increase revenue per client.
Defer price increase for existing customers
Communicate the increase in new, higher prices that apply immediately to new customers. For existing customers, in turn, you can say that they will get preferential treatment and the new prices will only take effect in 3 months. This way, existing customers actually get preferential treatment.
Personalise the message
Every contact likes to feel respected and appreciated. So if you send a generic message to every customer, it will come across worse than if you personalise the message. So use the contact's company name and first name in the message.
Example inform customers - announce price increase
"Dear [First name],
We value our cooperation and pride ourselves on the quality of our services. Our goal has always been to provide the best value and we obviously remain focused on that.
However, due to a number of factors, including rising operating costs, we find it necessary to make an adjustment to our pricing structure. This adjustment is a necessary step to maintain the quality and level of service you have come to expect from us.
We understand that a price increase is never pleasant news. Therefore, we have taken an approach that takes into account our loyal customers like [Company Name Customer] as much as possible. While the new prices will apply immediately to new customers, they will not take effect for you until three months from now.
We hope you understand that this price increase allows us to further invest in our services to even better meet your needs. Also in the future, we want to continue to surprise you with improvements in our product range and services.
We value your opinion immensely. If you have any questions or concerns, or would like to talk about how we can further help you get the most out of our products and services, please do not hesitate to contact us. We are always ready to answer any questions you may have.
Sincerely,
Kurt"
Kurt Vervloet
Kurt Vervloet is a business coach, blogger and speaker. Since 2017, he has been coaching businesses around the world, ranging from solo entrepreneurs, SME companies to executive management teams at large organisations. His clients choose to work with him because of my proven, no-nonsense approach to optimising and scaling businesses. By achieving great results with his clients, he has already been rewarded with several Awards.
