Hi Reader, A common question I get in class and with clients is: How do I position a price increase to my customers or clients? I'm going to share some tips, but here's what I want you to remember: The secret to a smooth change in pricing or policies isn't about the price or details, but in where you direct people's attention. When Apple or Google release their newest phone models what you hear about is all the new improvements: the better camera, longer battery life, sleek new design, and so on. We may notice the price increase from the last model but we're focused on how much better the newer model is to the ones we already own. So, how can we help our customers and clients keep their eyes on the prize of our products and services when it comes to price increases? Here are some strategies to explore:
Whatever you do, don't let your fear talk you out of raising your prices. Remember, customers who only buy from you based on price aren't your target audience, so don't be afraid of losing them to businesses that charge less. If you need help figuring out your price increase and/or how to position it to your audience, book a session with me. I'd love to help you. Until next time, PS - If you missed it, last week's It's a Juggling Act was all about keeping the balls moving.
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I help entrepreneurs leapfrog over the typical potholes that derail most small businesses with inspiration, motivation, education, and support across a wide range of business topics drawn from over a decade of running my own business, teaching entrepreneurship for the City of New York, and coaching and consulting privately with dozens of women and minority small business owners. Honestly, why go it alone when help is an email away?
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