Inflation is here. It’s time to raise prices.
OK, all good pricing professionals know that costs don’t drive pricing. Willingness to pay drives pricing. Sure inflation increases your costs. But it also increases your customers’ willingness to pay. Not that they want to pay more, but right now they almost expect to.
The single best reason that buyers accept for a price increase is your costs went up. Guess what? Your costs are going up. Now is a great time to increase your prices. Telling your buyers that your costs are higher has never been more believable.
If you don’t raise prices now, you are missing a golden opportunity. When inflation comes back down, which hopefully it will, your ready-made excuse will be gone. It will be harder.
If you’re afraid to raise prices or want an expert to advise you while you do it, reach out to me, [email protected].
Now, go make an Impact!inflation, prices, pricing, willingness to pay