How do we change our negative thoughts on presenting a price increase?
In my opinion, #1 is to get in the mindset. If you can't, you won't...if you can, you will.
#2 know your value. Know your worth. #3 don't be afraid of losing business. #4 offer added valueWith everything I have been through both personally and professionally, the most important thing I learned is the power of positive thinking. When I tell you that one change in my mindset has helped me through everything.....thats an understatement.
In addition to a positive mindset, it's important to realize .....you only get what you negotiate.Once we change that mindset, its then a snowball affect. We start being more positive, we start believing in ourselves more. We begin to realize the value we offer to our clients in making them look good. We don't just help them look good, we help them feel good. Your worth has a $$$$ value. Did you go to school to learn what you do? Did you spend money of new products, stay current with the trends, use good quality products? Isn't all that worth something? There's a National average of a 3% increase in everything.....when our expenses increase, we have to increase our income. In regards to the possibility of losing Business? If a client is going to leave you for a minor price increase....LET THEM GO. It'd been my experience, if they leave for price...they always come back.
As far as the added value is concerned, there are really only 6 things you should remember 1. Be realistic-Don't jump up $25.00 for one service. Add $5.00 - $10.00 max2. Communicate-Don't be afraid to talk about it. You don't have to justify, but explaining to your clients that your cost have increased, or you have more quality products....will help them understand. 3. Take care of Yourself-Really examine where you are and what you need to do to help make your life easier. the better you feel and are, the better service you can do for you clients. 4. Add value-Adding a little bit of ambience like heated towels, a mask or spending a couple more minutes on the massage, can make all the difference in the world. Just remember, you want more profit. You don't want to exchange value for $$$$ 5. Plan ahead-Don't spring it on them. You can always increase a little each month over a 3 month period. This way your clients know what to expect and it's not such a shock for them. 6. Be creative-Make it fun. Show the new products you have. Bring out some products you have but never used. Make a big deal out of it. Make it for your clients...not for you. There is so much to share on this topic, I just don't have enough room or time to put it all down. But, if you are attending our "missing Pieces" class in March of 2018, you will get a boat load of information to help you move up to the next level.