How do you raise your business prices without upsetting customers/clients?
This is a great question and one that I’ve figured out very easily over the years.
Raising rates is really only challenging with existing clients (as new ones never knew about the previous rates), and the best method for me was to announce the new rates ahead of time. All you need is HONEST and UPFRONT communication.
I’ll make a post or announcement to all existing clients that business is doing great, and we are expanding. Our costs are higher but so are our overall service and quality. As a thank you to current clients I’d love to extend them a DISCOUNT of getting the existing rate for any product/service purchased within the next 1/3/6/12 months (or can even grandfather them at the same price or lesser increase). Any client that doesn’t want to support your growth is probably not one you want to keep for the long term.
Let them know that your value their business and hope that you can continue your great relationship in the future.