Bridge that gap

First of all your customers need to know they're getting best value, and that the product or service you're selling  meets their needs exactly and gives them the outcome they want. Once they fully understand the benefits of buying from you, then bridging the price gap becomes a whole lot easier.


I can think of around 10 ways to present a price increase without losing your customers, we incorporate these in the Profit Builder process we use with our own clients , why not have a look....... 

http://www.brackmanwolfe.co.uk/profit-builder.htm.

Here's a few :

1. Know your competition.What are they charging for the same product or service? Show your customer that your product is better than your competitors, your after care is brilliant and even if you're slightly more expensive than the opposition, they're getting better value.

2. If your product price is particularly sensitive, because say, you're working to a manufacturer's recommended price, then how about charging more for the ancillaries? Delivery charges, packaging and gift wrapping, installation, different levels of service such as next day delivery will always carry a premium. It doesn't matter where the extra income per sale comes from, as long as it comes!

3. Break your price down in to small chunks, this is especially effective when you're selling a service. Talk about a cost per day, per week or per month as opposed to the big one off fee. And make it as easy as possible for your customers to pay you. Do you take cards, have a direct debit or monthly standing order facility, or a working relationship with a funder who can provide your customers with finance for your product or service?

And finally, provide your customers with a World Class Service! That alone will differentiate you from most of your competitors and make it so much easier to charge a premium price.