January is here and you maybe thinking how can I increase my revenues this year? One way is to increase your prices, but are you worried about losing customers if you do so? Here are five simple tactics to help you increase your prices and earn more – without losing your clients.
1. Prove the Value of Your Service: There is no greater tool for selling services than proof. If you can prove the value and the results that you have delivered to previous clients, then your service will sell itself regardless of price. How can you display your past performance in a convincing way? Harness the power of numbers and testimonials. People like things that are tangible. Can you get a testimonial video of 30 seconds or two? Post it on your site or social media pages!
2. Warn your customers in advance: Clients do not react well to a surprise price increase. Diminish the blow by offering plenty of advance notice. Dividing the increase into several smaller increases over time may be easier for your customers to accept rather than one massive spike.
3. Schedule Your Rate Increases: If you are not sure how to begin to charge more, then simply set a rate you are contented with and a plan to increase after a certain number of customers. If you make incremental price changes as a part of your business strategy, then, price hiking will become a natural part of your business. It also makes it easier to explain to customers if you choose to do so.
4. Increase your skills: The most evident technique to start: simply get better at what you do. Learn new techniques, build up unique methods of working, and purify your style. More striking work justifies more impressive rates.
5. Become better at expressing the benefits: This is about how to talk and describe your service. If you can learn more about how to communicate the benefits of what you do, customers will see more value in it.
Adjusting your price is an important strategy to increase your earnings over time. Otherwise, you will reach a point where it is not working as effectively anymore.
Resource: Steven Smith, an Editor of smallbusinessfriends.com
Hi my name is Farzanah. I am a marketing pro with 10 + years of experience in marketing management and a busy mom dedicated to helping small business owners improve their marketing with copy writing that transforms their online visitors into taking action.