Contemporary Economic Issues Facing the Filipino Entrepreneur (1).pptx
6 Tips to Raising Prices Without Losing Customers
1. 6 Tips to Raising Prices
Without Losing Customers
2. Many lawn care companies are incredibly
hesitant to raise prices because they’re afraid of
their clients’ reactions.
3. Here’s a few tips to raise your prices
without losing all of your customers.
Learn more about how to raise your prices.
4. 1. Be Honest
Tell your customers that you’re raising your prices
to stay at the top of the market in terms of service
and quality.
Learn more tips to raising prices.
5. 2. Educate Your Customers
They don’t know ANYTHING about mowing, or
landscaping, or cleaning, or any service industry.
Explain what you’ll be investing
in with the money!
Learn which number is the most important one for you
to watch in your business.
6. Tell your customers why you have to
raise your prices –
• Explain how you do your job.
• Explain all the things you have to do to get the
job done correctly.
• Explain to them that they are paying you
because you know how to do this job like
nobody else.
• Most of your customers will understand, and
that’s all it’s going to take.
7. 3. Thank Your Customers
• Thank your customers for being loyal.
• Thank your customers for taking a risk with
you.
• Thank your customers for sticking with you.
9. Don’t feel guilty
about raising your
prices or feel like
you are somehow
taking advantage of
your customers.
10. If you apologize, some of your
customers are going to think that YOU
don’t think you’re worth it.
11. Explain why you have to raise prices, and move
on. This is not something that you’re doing
wrong—it’s a business reality!
12. 5. Test
If you have 300 clients, don’t raise your prices
on all 300 clients at the same time. Test it first!
Learn how to make sure you are setting your prices correctly.
13. Call up a few of them, explain the
situation, be honest, and thank them.
Gauge their reaction.
14. Testing allows you to:
• Fine-tune your approach to raising your
prices.
• Learn all of the concerns that your test clients
have about your changes.
• Nail down the process, and keep more of your
customers.
15. 6. Over Deliver
For the first few visits after you’ve raised your
prices, make sure that you put in those nice
finishing touches to remind them that,
“Hey, this company is definitely
worth the price.”
16. Raising your prices can be intimidating and
scary. If you follow these few tips, you’ll
find that your clients
will be much more
understanding of your
case. Be confident,
and good luck!