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How to Raise Your Prices and Increase Your Profits Without Losing Any Clients
Manage episode 345122925 series 3012675
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In this episode, Annette will teach how to raise your prices and increase your profits without losing any of your clients. She will clear some of the misconceptions about increasing your rate such as people will not buy from you when you increase your price, and it does not always happen that way.
There might be risk when you increase your price but it should not have any negative effect on you and your clients. There are certain things that you just need to consider and think thoroughly about. One of these is understanding your client wants and needs, this can be your first step before you decide on how you can increase your price. Another is doing research on your competition. You may be able to know and compare both of your prices and services offered.
Grab a pen and take notes of Annette’s wisdom on how you can raise your price and increase profit without losing your clients.
Highlights of this episode:
- How to determine a fair price for your business.
- How many clients can you afford to lose if you increase your prices
- Keep track of who leaves and why in order to improve your business
- The importance of doing research on your competition
- Give your clients an incentive to stay with you during a price increase
- Understanding your clients wants and needs for the betterment of everyone
- How to Raise Your Prices and Increase Your Profits Without Losing Any Clients
Resources:
If you’re struggling to understand the accounting for your business, reach out to Annette at podcast@annetteandco.co.uk and join our Facebook group https://www.facebook.com/groups/915326342418247.
To know more about financial and lifestyle freedom and if you wish to receive updates of all the workshops that will help you increase your profitability and freedom from your business just head on to https://www.annetteandco.co.uk/want-our-emails/.
Connect to Annette Ferguson:
Facebook - https://www.facebook.com/UKAnnetteFerguson/
Instagram - https://www.instagram.com/annetteandco_/
YouTube - https://www.youtube.com/channel/UCkohh_X-4R5mKfEW9rBQ1qA
Listen to the Podcast - Financial and Lifestyle Freedom for UK Business Owners -
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