Pricing is a delicate subject. If you set your pricing too low, your margins will suffer, and the business won’t flourish. Conversely, customers might choose to look for more affordable options if they’re too high. How you set your pricing can ultimately, influence every part of your business. But sometimes it’s necessary to increase your rates. Either because of setting them too low, to begin with, or due to sudden increases in production and supply costs. That’s why today’s entry is focusing on how to raise prices without losing customers. Follow Along With The Financially Simple Podcast! This week on The Financially Simple Podcast: The effects of the current inflationary trend (02:35) A multi-faceted approach to determine what your price needs to be (04:45) Gauging competitor pricing (08:25) Peanut Butter Allocation (09:40) Determining your increase (10:55) Communicating your findings with your team (12:24) Transparency & Value (14:21) The value […]
The post How to Raise Prices Without Losing Customers appeared first on Financially Simple.
https://financiallysimple.com/how-to-raise-prices-without-losing-customers/
#financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp