{"id":24281,"date":"2015-11-11T16:00:00","date_gmt":"2015-11-11T16:00:00","guid":{"rendered":"https:\/\/grapevinemsp.com\/2015\/11\/11\/how-to-help-your-customers-deal-with-an-increase-in-your-rates\/"},"modified":"2015-11-11T16:00:00","modified_gmt":"2015-11-11T16:00:00","slug":"how-to-help-your-customers-deal-with-an-increase-in-your-rates","status":"publish","type":"post","link":"https:\/\/grapevinemsp.com\/how-to-help-your-customers-deal-with-an-increase-in-your-rates\/","title":{"rendered":"How to Help Your Customers Deal With an Increase in Your Rates"},"content":{"rendered":"<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignleft size-full wp-image-4927\" src=\"https:\/\/sitesdev.net\/articles\/wp-content\/uploads\/2015\/10\/how_to_help_your_customers.jpg\" alt=\"how_to_help_your_customers\" width=\"300\" height=\"225\" \/>Sometimes you just have to raise your prices, and while that\u2019s never a bad thing in your book, some customers may find themselves upset that they suddenly owe you more money monthly than they did before. A classic example of this is when Netflix increased their prices by almost 60{7e4ee7cd997d36f6dec43befd6b19c37edf0959bbf61766e988f901dd91e96d7}. Was it still a good value? Yes, but that doesn\u2019t mean they didn\u2019t have to suddenly face thousands and thousands of upset cancellations the next day as angry customers did not enjoy that surprise.\u00a0While you can\u2019t always completely negate the blow, you can soften it if you follow the tips below.<\/p>\n<p><strong>Don\u2019t Hide Anything<\/strong><\/p>\n<p>Don\u2019t be afraid to be 100{7e4ee7cd997d36f6dec43befd6b19c37edf0959bbf61766e988f901dd91e96d7} honest and upfront about your price jump. Tell them why, how, when, and then why again. It makes sense that as your company obtains new features, gains experience, and becomes an established service in the field that your prices will go up to reflect the wider, more interested market. It\u2019s okay to tell them that, or whatever other reason you have for raising your prices\u2014they\u2019ll either understand or they won\u2019t, but you\u2019ll at least have told the truth.<\/p>\n<p><strong>Thank Your Customers Profusely<\/strong><\/p>\n<p>This doesn\u2019t always help, but you should attempt to get every bit of help possible, especially when it comes to raising prices. Tell them that you appreciate that they started out with you and your little company and that you really do want them to stay forever because they\u2019re legacy clients. This should all be true\u2014remember, we\u2019re trying to be honest\u2014and you really should appreciate your customers, so your thanks should be personal and from the heart.<\/p>\n<p><strong>Introduce New Features with the Price Raise<\/strong><\/p>\n<p>When you\u2019re raising prices, it\u2019s important to justify your price raise\u2014and usually not with \u201cbecause we\u2019d like to profit more.\u201d Usually, this is because you\u2019ve added a lot of value to your service, or you plan to do so more in the future. One of the ways you can do this is when you introduce your price increase, introduce a new service at the same time. If you can\u2019t manage a duel release, talk about all the new features you\u2019ll be bringing to the table shortly after the hike.<\/p>\n<p><strong>Don\u2019t Apologize<\/strong><\/p>\n<p>Whatever your reasons for increasing your prices, your reasoning is enough. As long as you are honest, upfront, and offer the value that is expected with such a price increase, then you\u2019re on the right track. Definitely explain your actions if someone asks. Be sincere and direct, but don\u2019t apologize. If they don\u2019t understand that higher prices will better serve their needs \u2013 or they won\u2019t, in some instances \u2013 there are other companies they can go to, and your customer base will be tighter than ever.<\/p>\n<p>A little bit of honesty, gratitude a few new features can make all the difference when you need to raise your prices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sometimes you just have to raise your prices, and while that\u2019s never a bad thing in your book, some customers may find themselves upset that they suddenly owe you more money monthly than they did before. A classic example of this is when Netflix increased their prices by almost 60{7e4ee7cd997d36f6dec43befd6b19c37edf0959bbf61766e988f901dd91e96d7}. Was it still a good [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":24282,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v22.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Help Your Customers Deal With an Increase in Your Rates<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/grapevinemsp.com\/how-to-help-your-customers-deal-with-an-increase-in-your-rates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Help Your Customers Deal With an Increase in Your Rates\" \/>\n<meta property=\"og:description\" content=\"Sometimes you just have to raise your prices, and while that\u2019s never a bad thing in your book, some customers may find themselves upset that they suddenly owe you more money monthly than they did before. 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