Let’s be honest: raising prices feels about as fun as telling your landlord you “accidentally” let three goats loose in the living room.
Every business owner has been there, staring at spreadsheets, wondering how their profits evaporated faster than their morning coffee. Costs climb, suppliers hike their fees, and suddenly survival isn’t about thriving; it’s about whether you can keep the lights on without selling a kidney.
The Fear Factor
The thought hits: “If I raise prices, won’t all my customers bolt?”
Cue the spiral:
- Sleepless nights.
- Overthinking.
- Bargaining with the universe (or your cat) for answers.
But here’s the reality check: tough times mean you will need to raise prices. Pretending otherwise is like insisting it’s sunny when a thunderstorm is flooding your living room.
The 3 Things You Should
Never
Do
If you want customers to stay on your side, avoid these rookie mistakes:
- Ghosting them with a surprise price list. Customers notice, and they’ll clap back harder than your ex.
- Launching into a pity rant. Yes, costs are brutal. No, your customers don’t want to hear your sob story.
- Dropping corporate mumbo jumbo. “Adjusting our value structure” = “We want your money.” Just stop.
What Actually Works
Customers crave transparency because it makes them feel secure. And right now, security is a luxury item.
Here’s the playbook:
1. Be Transparent
Spell it out: what’s changing, why it’s happening, and when. Keep it clear, not sneaky. No one wants to feel tricked.
2. Talk Value (and Values)
Frame your increase around what matters. Sustainability? Better quality? Living wages? Customers buy into missions, not just price tags. Patagonia nails this — they don’t just raise prices, they show you why.
3. Give People Warning
Nothing freaks customers out more than surprise. Netflix learned this the hard way in 2011 when they raised prices and split services without so much as a heads-up. Result? 800,000 subscribers peaced out.
Keep It Human
Yes, this conversation is uncomfortable. But here’s the secret: people respect honesty.
- Pick up the phone.
- Send personalized messages.
- If you must email, keep it warm and conversational, not “Dear Valued Customer” robotic.
Show them behind the curtain. A photo of your team, a story of your suppliers, or even a quick breakdown of rising costs goes a long way in making people feel included.
Sweeten the Deal
Offer something small as a thank-you, maybe lock in the new rate for loyal customers for a while, gratitude plus transparency = less resentment.
Flip the Script
Raising prices isn’t just about survival. Done right, it can actually build trust.
This is your chance to say: “We’re in this together. Here’s why this matters, here’s how we’re staying true to our values, and here’s what you get out of it.”
In short:
- Don’t ghost.
- Don’t whine.
- Don’t BS.
Do be clear, be human, and remind customers why they chose you in the first place.
Because raising prices doesn’t have to mean losing customers — it can mean growing with them.