However, some of my clients are dealing with customers who do not like their new prices and want to know how to handle the conversation with their customers.
Which is completely normal.
When I raised my prices in my cake business, I was petrified that people would say I charge too much. And customers did tell me that.
But I stood firm in my new pricing until clients who wanted to pay that amount appeared.
Raising your prices in your business can really be tough. You know you need to charge more for your cakes, your time, and frankly you deserve more….but your customers don’t think so.
And they may run off to the competition and not want to work with you.
Here’s how to deal when your customers think your prices are too high…
1. Realize you are in the middle of the change.
When you raise your prices, you will still attract customers who want to pay your old prices. Realize that when you are raising your prices, you have to be patient as better clients come to you. Raising your prices comes with the belief that you are worth what you charge and when you FIRMLY believe you are worth more, those customers will come who will pay. But you must deeply believe it.
Until then, just realize you are in the middle of a change and your new prices will be your normal pricing.
2. Explain why your prices are what they are.
Some customers just don’t understand how much and how long to bake a cake…and that’s not their fault. Tell them how long it takes to make each design of the cake because then they will realize WHY the price is what it is.
I break down my designs by tier and sugar flowers. I say this tier takes 2 hours long, this sugar takes 1 hour, this design takes 4 hours. This helps wrap their brain around why you are charging what you are charging.
3. Be okay with leaving your old customers behind.
People pay for what they think a product is worth. Always remember that. You want to enter into the world of attracting better paying clients which means you must leave budget clients behind.
Think about attracting more clients who will pay you what you are worth. The more you concentrate your thoughts on those clients, the more they will come.
Leave them in the dust honey!
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