Raising your price is easy. Earning it is the part most companies skip. Before the new price goes live, ask where the new value is. A sharper call center script. Tighter dispatch. A better in-home process. Cleaner installs. Raise the quality first and the price stops being a conversation.
@officialchadpetermanTranscript
most companies raise prices the wrong way. Here's how to make sure your customers don't read. Before you ever raise the price of a service or a product, you have to understand what value are you going to communicate and how are you going to raise the value of that service so that it equates to the higher price that you are charging. Now obviously as material costs go up, labor costs go up, we have to increase our price to cover our costs. The other piece of that though is are there ways that you can increase the level of your service? Maybe that is a new script in the call center. Maybe that is dispatching your techs more efficiently so you can take care of more customers. Maybe that's refining your process in the home so that you can build another layer of trust with that customer and they know that you're the one to take care of their problem. That even goes through production. How can we train our technicians and installers to put in better jobs so that customers don't have to worry about this investment that they just made in their home? Again, before you raise your price, think about how am I going to raise the quality in the product and services that I sell.
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