Last updated on March 16, 2017 in Sales
Hear about new posts as they happen. Improve your marketing.
Sometimes, you change. I’ve spoken with a few agency owners and consultants who have realized that they either have or need to go upstream in their business to a) be more profitable and b) be happier. I’ve seen this happen many times.
So how do you move upstream and change your prices, and what does that mean for your current clients who are paying you less than your new rates? This video covers that second part – communicating pricing changes to your clients.
I did this a few years ago and I think did it well. It’s hard, but always worth it. When I boil down my advice in this video, it is:
If you’re changing your prices and increasing them, you have to be ready to lose some of your clients. But, you should factor this in to your financial model and know how many clients you’ll need to get new to make up for this lost revenue. In an ideal world, you’ll make enough from each of the ones who choose to stay to not take a financial hit even if some leave.
Here’s my advice:
As always, I’d love to hear your thoughts.
Leave them in the comments!
Sometimes the hardest part of growing your company is finding the right tools to use to execute on your strategies. Tools are a dime a dozen, but the right tool for the job is hard to find.
Check out our recommendations for lead generation and SEO tools as well as the books we recommend reading as you grow your business.
Check out this episode on iTunes. As I’ve been building Credo for the last few years, I’ve realized that in order to have a…View Post
There’s a lot of advice out there about investing in social media advertising and how it’s the new wild west of advertising, with cheaper clicks…View Post