The Richwood Report

Price increases are common both in commercial and consumer markets. The choices aren't hard to describe. Dave Kahle does a good job.

Anxiety abounds: "Will the customer refuse to accept it? Or solicit prices from a competitor? Will I have to give away gross margin and absorb the price increase in order to keep the business?" These kinds of doubts lead to anxious and intimidated sales people, declining sales and shrinking margins.

Dave gives seven good strategies for dealing with customers when your prices have to go up and points out that it doesn't have to have a negative influence on your business.

Remember, no one likes price increases, but they are a fact of life. As a professional salesperson, you can manage this process with excellence or you can allow it to upset you and your customers. Implement these seven strategies and you will handle the inevitable price increase with finesse and confidence.