Bumping Up Your Prices: Example of how it's done to get agreement
Here's a little formula I've used both in sales to consumers
as well as to business owners to bump up my prices.
This is from customer lists that repeat buy.
State the amount of price increase + reason why + reassurance of the same level of service + option if it won't work.
A tutor wanted to know how to lift his fees.
Here's the message using this formula...
"{Name} your guitar lessons are now $40 per hour. This is the first time in 5 years there has been a price increase. You'll still receive the same level of tuition and care as before.
Let me know if this won't work for you."
Here's why it works so well...
If you've read the book Influence, you'll recall
the tests where a reason why a request was made.
Some reason why's were very flimsy, but still worked
for compliance.
Hence it's the first price increase in x years.
There's reassurance about the level of service being delivered,
very important. Change is not what customers want.
When I sold my 4 companies I reassured my clients that there will be no interruption to service, same method of payment, prices and days of service so it became a smooth transition for the clients and new owner. I built into the sale agreement that clients will stick, which got a premium sale price for those companies.
And finally they still fill in control by asking them if it won't work for them.
That's a very important and subtle language pattern.
It's extremely hard for people to say the simple word no to others,
other than their young children, therefore the easiest thing is to
agree..
Yet at the same time that option feels they have control
of the situation. Not giving people a sense of control
can cause a negative reaction.
Yes, there is some very deep psychology gone into those few lines.
I've proven they work to consumers as well as to business owners.
Just did it back in May for my business that sells paper for POS machines.
Best,
Doctor E. Vile
as well as to business owners to bump up my prices.
This is from customer lists that repeat buy.
State the amount of price increase + reason why + reassurance of the same level of service + option if it won't work.
A tutor wanted to know how to lift his fees.
Here's the message using this formula...
"{Name} your guitar lessons are now $40 per hour. This is the first time in 5 years there has been a price increase. You'll still receive the same level of tuition and care as before.
Let me know if this won't work for you."
Here's why it works so well...
If you've read the book Influence, you'll recall
the tests where a reason why a request was made.
Some reason why's were very flimsy, but still worked
for compliance.
Hence it's the first price increase in x years.
There's reassurance about the level of service being delivered,
very important. Change is not what customers want.
When I sold my 4 companies I reassured my clients that there will be no interruption to service, same method of payment, prices and days of service so it became a smooth transition for the clients and new owner. I built into the sale agreement that clients will stick, which got a premium sale price for those companies.
And finally they still fill in control by asking them if it won't work for them.
That's a very important and subtle language pattern.
It's extremely hard for people to say the simple word no to others,
other than their young children, therefore the easiest thing is to
agree..
Yet at the same time that option feels they have control
of the situation. Not giving people a sense of control
can cause a negative reaction.
Yes, there is some very deep psychology gone into those few lines.
I've proven they work to consumers as well as to business owners.
Just did it back in May for my business that sells paper for POS machines.
Best,
Doctor E. Vile