3 tips on raising prices without losing customers.
(By Sammi Caramela published on www.businessnewsdaily.com 9 Oct 2018)
Every company wants loyal customers, but it’s not always easy to retain them, especially when making necessary yet major changes to your brand. For instance, when you’ve decided that to make a profit you need to raise your prices, you probably know your customers won’t be pleased. You might face backlash from consumers, but you can work to prevent this while still doing what you need to survive as a business. Here’s how:
- Grandfathering prices: This lets you grow future revenue without worrying about losing existing customers.
- Adding value: Listen to reviews, customer complaints and feedback and use them to better your business.
- Communication: No matter the reason, be transparent with your customers.
Read the full article at www.businessnewsdaily.com