Now that we have a clearer image of the elements that need to be taken into account when setting our rates, the pricing strategies that we can implement and how to communicate prices to our clients, we have to learn how to communicate any future changes in the prices that we have just set.

The loyalty of our clients is crucial for our business. We don’t have to disappoint them and, of course, we don’t want them to think that there is something fishy going on regarding our business. Clients are the most important thing in a business and we have to care about them.

That is why we have to communicate with them. And this is how we have to do it:

1. Explain without apologising

Don’t say that you are sorry, simply because you are not, and they will notice it. You have raised your prices for a reason, and that is what your clients want to hear. Explain why you have raised your prices. What has changed that made you raise them? What value you have added to your business?

Also, you can explain what you are going to do with the additional funds. Are you going to invest them in something that may be of interest for your clients?

The key here is to explain your clients the benefits of such increase and how your business has changed for their benefits and why this increase is fair.

2. Communicate your price

Contact key clients first and explain what I have mentioned before. It’s also important that you do this with plenty notice before so they can assume the increase and think about the benefits that they are gaining from this.

Communicate this increase internally too. Your team must also know what has changed and the reasons of this change. They must be aware of what’s going on in your business.

I will also talk about communicating in my last post of this month. Only available if you are subscribed to my newsletter!

3. Play fair with loyal clients

Maybe you should consider offering any type of discount to your loyal clients. Personally, what I have previously done is to give my clients a sample of my brand new added value for the same price before the increase. I think it’s just fair that clients that are already loyal can have this privilege over new clients.

4. Say thanks and be honest

Let your clients know that you really appreciate the new risks that they are taking and for remaining loyal to your business.

Be honest. Always. No excuses. Answer clearly every single question and do not hide anything to your clients.

5. Over-deliver

The first samples of your new added value are crucial. You have to demonstrate your clients that your value has increased more than the prices. Pay attention on what you are delivering, especially during the following months after the price increasing.

Now it’s up to you! What do you think about these tips? Have you used other tips to communicate price increases? Let me know your thoughts!

Important: On Thursday I’ll talk about why we should charge per assignment and how to get rid of per word rates.

Important 2: By the very beginning of next week, I’ll deliver February’s newsletter with more information about pricing, and how to elaborate quote that your clients won’t reject. Only available for those subscribed to it. Don’t miss it out, and subscribe now!

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