How do I raise prices without losing customers?
Efri · 1 min read
Tell them before it happens, not after. Nothing damages trust like finding out from an invoice.
In short
4 key points
- 01Grandfather the existing ones, at least for a while
- 02Raise it for new customers first
- 03Give a reason, but keep it short
- 04And expect to lose some
Grandfather the existing ones, at least for a while. It costs you less than you think and it turns a price rise into a reason for them to feel good about being early.
Raise it for new customers first. Watch what happens for a month. If demand holds, you have your answer before you've touched anyone existing.
Give a reason, but keep it short. "Costs have gone up" is fine. Over-explaining sounds like an apology, and apologising invites negotiation.
And expect to lose some. You should. If you raise prices and nobody leaves, you didn't raise them enough.