The Marketing Guru – Increasing prices without alienating customers

The Marketing Guru – Increasing prices without alienating customers

Dee Blick is the U.K.’s number 1 bestselling small business marketing author and the retained Chartered Marketer for K-Seal distributors Kalimex. In this final part of a series of marketing hints and tips for garages she explains how best to soften the blow of a price hike:

Q. How can I increase my prices without alienating my customers?

Price increases are a tough but necessary task, so it’s how you sensitively manage your customers through the price increase process. You can alienate customers by hoping to sneak in a price increase without them noticing – they will! So, let them know ahead of time and you’ll maintain their goodwill.

Explain to them why you’re increasing prices. Is this the first time in ages? Have your suppliers imposed this on you? Are you passing on all of the increase or just some of it? If you’re still very competitive let customers know that too. Remember, most customers are price savvy nowadays so you have to stay competitive. Launch a couple of great offers and be sure to let customers know about the extras you will continue to offer them at no charge.  

Customers want value all the time. This doesn’t always come in the shape of the lowest price.

If you have any marketing questions that you want answered, you can contact Dee via email or follow her on Twitter @deeblick.

Related posts