1. Give the customer lead-time.
Provide the customer with enough notice to allow them to make adjustments in Their information systems and to Exercise at least one more order at the Existing price.
2. Avoid Showing favorites.
Pricing Integrity is essential Always, But Especially so During a price change. Customers Do Not particular treat more favorably in pricing Than Others During an increase. Pricing Different Levels are fine as long as They Can Be so logically Defend Who is That a customer price Not Receiving the dog break Understand and accept the price change.
3. Do Not allow your customer to find out about the price Increase from your invoice.
Any Changes in pricing must eat from the account executive or a person of high position Within the company. Information Regarding the price should change only on an invoice Appear After Every person has Been Personally Involved NOTIFIER. (Sufficient time should OCCUR Increase in the price timeline to allow at least one invoice to Contain a note of the pending Increase in price.)
4. Make sure Each customer service representative and Anyone Else Who Comes in contact with the customer is aware of Fully Increase When the price is going to be Communicated.
One of the Most Significant Possibilities for confusion is When the customer hears Different Conflicting information from departments. In customer service Everyone Needs To Be Fully aware of the price Increase, the Reasoning behind it, and the logistics for implementation. Also They should be Provided with a FAQ guide to Ensure That When Customers do ask them about elements of the pricing Increase, They Are Able to share Accurate information.
5. Believe in the price increase.
In order to be Paid What You are worth, you must charge What You Are Worth. Although This Is Not Something That Can Be Communicated explicitly to the customer, this general sense Is What sets apart the best practice companies and high-performing sales professionals.
6. Instill an open-phone/open-door policy.
Any time a price Increase Takes place, it is important for all senior executives to be willing to answer a phone call from a customer or to make phone calls to key customers. For Successful Consultative selling, nothing sends a signal to a sales Stronger Than Seeing Their organization senior executives on the front-line When dealing with a price increase.
7. Before and after the price Increase, monitor the sales patterns of your individual customers.
It is important to Quickly catch OCCUR Any Changes That as a result of the price increase.
During the 1970's and 1980's, price Increases Were common and expected. In the Past 10 years, however, we've all grown Used to lower inflation "and the overwhelming Impact of Wal-Mart's philosophy on pricing. Today, price Increases are again more common and acceptable Growing As Long as They Are Not Well Thought-through and seen as a way to Merely Increase profits. Because They Are an inevitable part of business today, we can not let ourselves Avoid dealing with price increases. Instead, we should seek to use them Strategically to Increase Our selling potential.
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