How to Convince Your Customers to Pay More

How to Convince

Customers to Pay More

insights from

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Less than 50% of customers correctly guess what the

priceof a product should be.

How are you filling in the gaps of their knowledge and

creating opportunities to increase prices?

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Your sales team plays a big part.

If they have confidence in your pricing and support the increase with value, you’re on your way to

creating profit.

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But what if your customers still balk at a price increase?

Take these four steps to effective price communication, and execute your next price increase without a

hitch.

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Step One:

Prioritize Transparency Within Customer

Relationships

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Create openness with customers before implementing a major price

change.

This encourages trustworthiness and strengthens positive client

relationships.

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Step Two:

Stress Product and Relationship Value InEvery Conversation

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Every conversation with a customer should stress the

value of your company’s products and/or services.

Avoid mentioning material or commodity costs.

Instead, stress how productvalue has evolved over time.

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Step Three:

Verbally AssertConfidence and Assurance

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Get your facts straight before the conversation starts.

Speak slowly and calmly.

Don’t rush your side of the story.

Don’t apologize for the increase. Rationalize it based on value.

Express confidence.

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Step Four:

4. Watch YourUnspoken Language

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Focus on body languageconveying signs of trust:

1. Maintain eye contact.2. Lean forward.3. Give them your full attention.

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These tips rely on a well-strategizedprice optimization strategy.

Ready to take yours to the next level?

Click here to see how KiniMetrix simplifiesprice increases without reducingeffectiveness or success rates.

Get Your Pricing Up to Par