What is the future of price optimization
Five tricks: price optimization
Do you have to increase your prices due to rising costs? These 5 tips will help you increase the price.
Customers accept higher prices more easily when there is more to a product or service. Think about which additional service fits your existing product that has an extremely high profit margin and put together such a package. That creates a win-win situation.
A good way to create more win-win situations is to optimize the product itself. Especially in times of increasing ecological awareness, people are more willing to pay more for sustainability. For example, is it possible to use more environmentally friendly raw materials?
THREE: Strengthen your presence
Are your customers satisfied with your services? Then draw attention to it using reviews that demonstrate your competency as a company. Every positive review is one more reason to pay one or two more euros for your services.
FOUR: Break it down
Show your customers what the total is made up of. Not everyone who is not familiar with the industry can understand straight away what is behind a price. With a breakdown of the pricing, you show at the same time the effort put into your services and that every single euro is worthwhile. Be careful when naming the breakdowns to avoid picking everything apart. So make the connection and the dependency visible.
FIVE: Communication is everything
Don't let your customers find out about the price increase until the next billing session. Draw attention to the increase in good time and clearly and be ready to answer any questions. In this way you avoid a crack in the customer relationship.
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