5 Steps To Raise Your Prices

0:00For anybody who's going to raise prices on an existing customer base, I write out one to five bullets of value that they're already receiving. Like, "Hey, John, we've sent you a 10,000 leads over the last however long. You've generated this many sales from them." So, it's reminding them of consumption. Then, we say price is going up. All new customers are already paying this, but because you've been with me for a while and you're special, what we're going to do is we're going to give you a credit. Your credit is going to be 3 months or 6 months, whatever you feel like. And ideally, if you shoot invoices showing the credit on your invoice and then their new balance. Then, D is reinvestment, which is, "Hey, we're not just greedy bastards. These are all the things that we're going to be reinvesting in." Which every single business owner is spending money on to make their business better. And so, just tell them what you're already spending money on. And then finally, I do a PS statement at the end. The way that you worded is if if this is going to materially impact your business, if it's B2B, and if it's B2C, you'd say, "Hey, if this is going to stop you from able to buy groceries or pay your mortgage, just let me know. I'd be happy to work out something with you."