When you ask the customer if you can increase their price, it says you don’t believe in the increase.
Think about that for a moment and you will begin to realize that if you “ask” a customer if they would like their prices increased, who in their right mind is going to say “YES”?
Essentially what you’re doing is inviting the customer to say no, and if they say no, then that leaves you in a difficult position.
What I find interesting is the vast majority of salespeople, when attempting to move their prices higher, ask the customer if that would be okay.
If you’re taking your prices up, then there is a good reason to do so. And that means you need to do it without exception.
Key with any price increase is to be able to communicate to the customer why you’re taking the increase. What’s interesting is that often times, customers won’t even ask as long as the increase is an amount they find reasonable.
The best way to avoid problems with a customer is by entering into the conversation about a price increase with confidence. If you do it with confidence that’s backed up with eye contact and a solid voice, the customer is far more likely to accept it than if you walk in and hesitatingly ask for an increase.
Do you see the difference?
Don’t hesitate to be firm, and if you do receive push back, then know what you’re going to say and be confident when you say it.
The reasons for an increase can be many, but don’t under any circumstances base the rationale on the increased price of fuel or some other commodity. The problem with that is simple — Are you prepared to lower the price when fuel drops?
Remember that commodity prices are just that — they’re a commodity and prices will fluctuate.
Best approach is to position your increase on the increased revenue your company needs to be able to continue to produce the high-quality goods or services the customer has come to expect. Never get any more specific than necessary, as the only thing you’ll do is allow a sharp buyer to have ammunition to come back and attack you.
Be confident with your increase. Believe in yourself and how what you do is for the long-term benefit of the customer.
Copyright 2012, Mark Hunter “The Sales Hunter.” Sales Motivation Blog.
