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A Practical Guide to Announcing a Price Increase to Your Clients

As we gear up for the new year, I wanted to share some insights on a topic that might not be the easiest to tackle: announcing a price increase to your clients. I've included a sample letter for you to use too as its not always easy to find the words, or the time. Please feel free to customise it according to your business's specific needs and the nature of your relationship with your clients and let me know if it helps!

Due to various factors such as inflation, supply chain disruptions, weather events, and the roll on effects of COVID-19, prices of almost everything have gone up over the last year. From food to energy to vehicles, we are all feeling the impact of these price increases, which are some of the largest since the 1980s. You need to keep up so your profits don't fall behind.

Be upfront and confident: When it comes to communicating a price increase, it's essential to be direct and avoid being overly apologetic. Remember, you're providing valuable products or services, and it's only fair to adjust prices accordingly.

  • Highlight the value: Instead of focusing solely on the price increase, emphasise the value your clients will receive. Share how the price adjustment will allow you to enhance your offerings, improve customer service, or invest in ethical labour practices. Show them the bigger picture.

  • Keep it concise: Nobody likes reading long essays, especially when it involves a price increase. Keep your communication concise, clear, and to the point. Grab their attention with a well-crafted email or letter that conveys the necessary information effectively.

  • Show empathy and offer support: Remember the human side of your business. Acknowledge that your clients might have questions or concerns about the price increase. Assure them that you're there to address any queries and provide support throughout the transition. Offer a personalised touch by using their names or any other relevant information.

  • Choose the right medium: Consider the best way to communicate the price increase to your clients. Whether it's through an email, a letter, or a face-to-face meeting, choose a medium that aligns with your business and your clients' preferences. Ensure that the message is professional yet approachable.

Remember, change is inevitable in the business world, and price adjustments are a part of it. By following these tips, you can navigate the process of announcing a price increase with confidence and transparency.

Wishing you a prosperous new year ahead!

Price Increase Email
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Dear [Client's Name],

We hope this message finds you well. We wanted to take a moment to express our gratitude for your continued support and loyalty to our business. Your satisfaction is our top priority, and we are committed to providing you with exceptional value and service.

We are writing to inform you of an important update that will take effect in the new year. As of [Date], there will be a slight adjustment in our pricing structure. We understand that any change in price can be challenging, and we want to assure you that this decision was not made lightly.

Over the past year, we have made significant investments in enhancing our products/services, improving our infrastructure, and expanding our team of experts. These efforts have allowed us to deliver even better results and value to our clients. As a result, we have made the decision to adjust our prices to reflect the increased value we are offering.

We want to emphasise that this price adjustment is necessary for us to continue providing you with the highest level of quality and service. Our commitment to your success remains unwavering, and we are confident that the value you receive from our partnership will only increase.

We understand that this change may raise questions or concerns, and we are here to address them. Our dedicated customer support team is available to discuss any specific needs or requirements you may have. Please feel free to reach out to [Contact Person] at [Phone Number] or [Email Address].

We genuinely appreciate your understanding and continued support during this transition. We value your partnership and remain committed to helping you achieve your goals.

Thank you once again for choosing us as your trusted [Industry] partner. We look forward to growing together in the coming year.

Warm regards,

[Your Name] [Your Title] [Company Name]

Note: This sample letter is a general guideline. Please customise it according to your business's specific needs and the nature of your relationship with your clients.

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