Many people fear increasing their prices because they think their sales will reduce.
This does not have to be the case.
I have outlined 7 methods on how you can increase your prices without fearing to lose sales.
1.
Add value or update your program.
This is the most common reason why people increase their prices.
Your clients will understand that you have updated the program and will be willing to accommodate the increase.
2.
Let people know your costs have increased.
Everyone is aware of the global recession and will understand when you explain you have to charge more due to increases in production costs.
3.
Invite speakers at your teleseminars and explain to your clients that these speakers have to be paid.
Explain that since the clients are the main beneficiaries of their talk, some cost has to be passed onto them.
4.
Repackage your program and include new information in it.
For example you may have bonus information or sessions in your programs.
This will justify an increase in price.
5.
Explain that your program is a highly competitive product and that's why you have had you increase its price.
Explain you are still going to improve it further 6.
Appeal to the emotions and sense of your clients by coming up with new quality information for your program, people are willing t pay for quality and will understand your reason for the increase.
7.
Another way is to sell your programs as a bundle.
For instance, if you have held teleseminar recordings, you can include them in your programs and hence increase the program's price.
The above tips will enable you increase your prices without having to fear sales repercussions.
Follow these tips if you really want to increase your prices without any cutting in your existing customer base.