Raising Prices Without Losing Customers

Everyone wants to increase the prices without losing their customers. However, with the motivation of increasing prices and earning more, the fear of losing dedicated customers is intrinsically linked. Many times the impact of raising the prices may affect your revenues, as the customers can go to some other person offering the same services and products at a reasonable price. It will test your brain to raise the prices without losing your customers. Read this article to know exactly how to raise the prices of your services and products without losing customers.
Packaging Changes: A great way to increase the price of a product is to change the old boring looking packing in a new and appealing packing. This way, the customer gets fascinated to buy the same old thing in a new pack, just like a drunkard gets excited to see an old wine in a new bottle. The best part of this technique is that the customer often forgets that you are charging extra for that new packing.

Discounts: Discounts and more discounts, no one get away from the greed of having discounts. The mere usage of this word “discount” never makes the buyer think that the prices are already raised to offer them the so-called “discounts”. This in fact, is a wonderful marketing tool used by many to raise the prices without losing the customers.

Promotions: The usage of some magical words in terms of promotions also work wonders when it comes to sell the same thing with more price without losing the customers. These promotional words tend to change the way the customer perceive a product or service and he or she happily pays more to get it.

Sales Negotiations: Nothing is compared to a good sale negotiation to raise the prices without hampering with the sales. You need to check the tactics in order to increase your net in sales negotiations. Moreover, you need to incorporate some new ideas for salesperson training. Those who can use some psychological ideas for reducing the customer price sensitivity can also succeed in selling their products in an increased price.

Tweaking The Offers: Some times the technique of tweaking the products or services you are offering can help increasing the prices without losing the customers. Take for instance, just by adding a free sachet of a moisturizer with a bleach cream will attract the customers to get it even if it available at a bit higher price. In other words, just by adding a little more than you usually offer, you can extract more price for it.

Repositioning Products: Repositioning the products is yet another way to increase the sale price without losing the customers. Take for instance, just changing the phrase from “expensive newsletter” to “cheap newsletter” will work wonders in selling the newspaper even if it is not that cheap as highlighted in the advertisement.

So, now you know how prices can be raised for commodities and services without losing the customers. Plan your strategy.