One of the least favourite tasks sales representatives have to perform is to tell their customers that their prices are increasing. It is right up there with collecting overdue payments and completing sales call reports.<\/p>\n
After all, friends wouldn’t do that to each other. What’s worse I may lose my friend and the business as well. It’s too risky and besides all that you say that people buy from people they like. They certainly won’t like me when I tell them it is going to cost them more. I have experienced and heard it all before. If you are that worried about the consequences, then it may be a case of not believing in the value that you and products and services are providing to your customer.<\/p>\n
The fact that your customer is purchasing from you instead of your competitor demonstrates the presence of a competitive advantage. If you think about what that advantage is and quantify it you have the beginnings of a strong case. Here are a few more keys to a successful price increase implementation.<\/p>\n
If your company’s profitability is in jeopardy as a result of declining margins and you are not prepared to take appropriate action, you may end up losing your customers for an entirely different reason. Can you afford to be in that situation? The customer’s initial mood may not be a happy one, expect that and also expect they will agree to the increase as a result of a well researched and prepared case.<\/p>\n
Good selling,
\nRichard<\/p>\n
Have a question about sales? Contact me <\/a>and I will respond.<\/p>\n Please share Thoughtful Thursdays posts with people you feel may find the topic interesting and helpful.<\/p>\n","protected":false},"excerpt":{"rendered":" One of the least favourite tasks sales representatives have to perform is to tell their customers that their prices are increasing. It is right up there with collecting overdue payments and completing sales call reports. After all, friends wouldn’t do that… Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[15,5,8,3,6],"tags":[60,35,47,73,45],"class_list":["post-1126","post","type-post","status-publish","format-standard","hentry","category-sales","category-sales-tips","category-selling-skills","category-thoughtful-thursdays","category-value-selling","tag-sales-2","tag-sales-tips-2","tag-selling-skills-2","tag-thoughtful-thursdays","tag-value-selling-2"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/1126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/comments?post=1126"}],"version-history":[{"count":9,"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/1126\/revisions"}],"predecessor-version":[{"id":3525,"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/posts\/1126\/revisions\/3525"}],"wp:attachment":[{"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/media?parent=1126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/categories?post=1126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sakanashiandassociates.com\/blog\/wp-json\/wp\/v2\/tags?post=1126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}