My Profile

    Leinart
    user portrait
    Lifetime Points: 0
    Navigation
    • My Site
    • Blog
    • Photos
    • Videos
    • Calendar
    • Friends
    • Groups

My Profile

    Send Message Send Message
    Add Friend Add Friend
    Remove Friend Remove Friend
    Block User Block User
    Unblock User Unblock User
    Invite to Group Invite to Group
    Report User Report User

My Page

    Raise Prices Without Losing Customers

    Sunday, July 8, 2012, 10:45 AM [General]

    Price increases are never pleasant, but they are often the only way to maintain profitability when your expenses go up. Your customers are living in the same economy that you are and their other suppliers are probably also raising prices, so this isn't likely to be a shock to them. However, it's a good idea to ease customers into your new pricing structure to make it as palatable as possible. Let them know that gradual increases are necessary for you to cover your costs, and that those increases will be reflected on future orders. What it boils down to is this: If you are losing money because your costs are exceeding your revenue and there is no way to reduce costs, you have to raise your prices. But you need to do it carefully so that you can retain your existing customers and continue to attract new ones. Be honest with your customers. If you're raising prices, call it what it is: a price increase. Don't insult your customers' intelligence with gimmicks such as "fuel surcharges" or ala cart add-ons. Doing that can have a negative impact on the trust your customers have for you and your company. If possible, don't raise prices to all customers all at once. This is easier if you're in a professional service business; it's more difficult if you're in a retail or even B2B tangible product business. First increase prices to your least-profitable customers. If you lose one of those accounts because of the increase, you'll probably be better off; take it as an opportunity to find a new,Cheap Torrey Smith Jersey, more profitable buyer. If your business is built on repeat customers who buy a lot of different products from you on a regular basis,Cheap Denarius Moore Jersey, it's a good idea to avoid across-the-board price hikes. Increasing everything the same amount at the same time can have a jarring impact on customers. Stagger the increases for a softer reaction. A word of caution: Your accounting department will likely prefer that you raise prices as simply as possible, which would be across-the-board for every customer. While that may be the easiest way to do it for the bean counters, it's not the best way to do it for the financial health of your company. Even if you lose a better account because of higher prices, keep two points in mind: First, chances are your competitors are charging similar rates, so there's an excellent possibility those customers will come back. Second,Cheap Rodgers-Cromartie Jersey, the only way for your own company to grow and thrive is for your business to be profitable. The author introduces: 24H JERSEYS is a privately owned sports goods company with a history of nearly 4 years.We have the professional factory behind us manufacturing all sports jerseys.Click here Read More
    0 (0 Ratings)

    Comments (0)

Recent Blog Posts

    • regardless.
    • LAKE FOREST
    • WASHINGTON
    • "We're here to win
    • his four-seamer and his slider

Blog Categories

    General (4913)
onesiteplugins.com | Join | Legal | Be Safe | Help | Report User | Report Content