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When is the best time to sell a price increase? I get asked this question a lot and my response is “right now.” After I say this and see the expression on the person’s face, I then have to back up my response with my rationale.
Selling a price increase can always be a challenge. Right now the environment for selling a price increase in many industries is next to impossible. There are a lot of customers who are not only pushing back on a price increase, but are also expecting a price discount of some sort. This creates a huge problem for any company trying to increase their prices.
Recently I shared with you 9 things not to do when selling a price increase. Equally important is what you SHOULD do when your company has told you, “It’s time to take a price increase.” The number one thing on your list is to communicate the news to your customers and make sure there are no issues with the price increase.
The decision has been made. Your company is taking a price increase and it’s your job to go out and make it happen. You knew it was coming but you were hoping it wouldn’t happen. You would rather management find other ways to maintain profit without taking a price increase. It’s now time to put all of this aside and begin building your plan of action. Listed below are 9 things you should not do:
One of the topics salespeople and sales managers ask me about the most is how to best implement a price increase. For some salespeople, this is one of the most challenging interactions with their customers. There are even some salespeople who avoid it all costs — but this path ends up costing them and their company dearly!
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