Price increases

How to implement them with confidence

Price increases – overview

It’s a fact of life that costs generally increase and as a result prices must go up too.

Implementing an increase without losing customers is challenging. Talking about a price increase with customers never makes for an easy conversation. Your customers will generally decide whether to accept the increase based upon value, as well as the hassle cost of switching and going elsewhere. Even the most experienced salesperson who has implemented price increases before will be fighting back the nerves when faced with the task of ‘selling’ the increase.

In this flexible programme, we will support your internal preparations at whichever stage you and your colleagues are at. From making the decision to increase prices, right through to those on the frontline already dealing with any push-back.

Full details below or download workshop outline.

Learning objectives
This programme will help participants:

  • Understand the business case for increasing prices
  • Take steps to research the market
  • Consider their customers’ motivations
  • Use the six principles of influence
  • Identify and adapt for different personality styles
  • Assess their level of trust with customers
  • Build rapport rapidly with their customers and prospects
Who should attend?
This immensely practical, motivational and confidence-building programme is suitable for sales and business development professionals at all levels.

Format
Your choice:

  • a very practical, interactive one-day classroom-based session for group of up to 12 people, OR
  • a flexible webinar format (preferably using Zoom).
Special features
The more advance preparation your team can do ahead of the session, the more productive the session and the greater the return on investment. The fee for the programme covers half-a-day’s consultancy time with the trainer to support you with this.

The programme is flexible and can be tailored to your specific requirements, usually at no additional charge.

Feedback

This is a tried-and-tested programme.

See some of the feedback from stakeholders:

‘Hi Scott, Just to say over the last few days had great feedback on how these sessions are really helping colleagues in delivering price increases. You are great at facilitating these meetings and your rapport with [Sales Director] is great to see. Without doubt how we are managing price increases this time around is the best in our history so a big thank you from me to you.’ Managing Director

‘The training with Scott Rumsey reference implementing a price increase has been excellent and with much detail. This will keep us all ahead of the game and we will gain the results that we are looking to gain. Thank you, Scott.’ General Manager

‘Thanks for all your time and effort put into this Scott. It’s very much appreciated, and I look forward to working with you again.’ Sales Director

And the feedback from participants:

  • ‘I would tell others it’s a great base to prepare yourself for a price increase conversation.’
  • ‘Very informative – helped me lots.’
  • ‘Scott, the trainer, is lovely. There is no pressure to answer any of the questions and he is very patient.’
  • ‘It was a great help and has improved my confidence in passing this on.’
  • ‘Very engaging and informative.’
  • ‘The course is very informative and helps improve confidence.’
  • ‘Good pace and live discussions very good.’
  • ‘Very well presented and information is easy to take in.’
  • ‘Really nice trainer and very informative.’
  • ‘Very informative and great as a discussion tool to gain ideas or opinions from colleagues.’
  • ‘Very informative and empowering.’
  • ‘Fantastic again.’
  • ‘Thank you, Scott, for your help. Very good course/webinar.’
  • ‘Scott is really good and very easy to listen to.’
  • ‘Keep up the great work Scott, you’re very welcoming and bring the best out of people.’
  • ‘Scott was very professional and confident in running the course.’
  • ‘Scott is really engaging and knowledgeable.’
  • ‘Scott, this is the third session we have had with you. All three sessions have been a wealth of useful information and great for real world experiences. I always look forward to these sessions.’
  • ‘Great as always, appreciate the opinions and information provided.’
  • ‘Scott is very engaging and knowledgeable.’
Expert trainer
An enthusiastic developer of people, Scott has been working as a sales trainer and coach since 1996. Operating from a solid foundation of over 20 years in retail banking, Scott has worked independently and also as an associate since 2000. Whilst working for NatWest he undertook a number of sales-related roles including Mortgage Advisor, Graduate Account Relationship Manager, FOCUS Sales Manager and Sales Coach in the London-based call centres. He also worked at NatWest’s prestigious residential training college working with sales teams within the business. One of his specialist areas is telephone sales and particularly telephone sales coaching, which involves him in providing live coaching while sales people call their customers. As someone who is passionate about sales through a customer-centred approach, Scott brings real feeling to his training and coaching sessions.

Scott has delivered sales training and coaching to numerous clients (eg, London Business School, Xerox, HMV, Waterstones, NatWest, WF Senate Electrical, Denmans Electrical, Gewiss Electrical, Software Europe, Solopress, Stihl UK, Bishop Grosseteste University, University of Lincoln, University of Surrey, Avtura, Acton Training Centre, Hall & Partners, InShops Retail Centres, Johnson & Wales University (Miami), Costa Cruises, EDF, sofa.com, SoleTrader, Invopak, Peregrine Livefoods, etc, etc) in a diverse range of sectors, particularly retail, wholesaling and hospitality, but also encompassing finance, training, market research, vehicle repair, airline operations, printing, steel fabrication, roofing, software design, universities, etc, etc. Scott is a qualified NLP Master Practitioner, and an accredited Profiling Practitioner for DISC and Facet5 psychometric assessments.

Price increases – workshop outline

1 Raising prices – keys to success

  • Understanding the business case
  • Researching the market
  • Assessing the value of your offering

2 Understanding your customer base

  • Assessing your key accounts
  • What is your ‘target’ customer range?
  • Creating consistency in pricing approach

3 Planning the increase

  • Timing your implementation
  • Communication strategy
  • Elements of a good price increase letter

4 Developing influencing skills

  • The Trust Equation
  • The six principles of influence
  • Discovering your customer’s buying decisions

5 Emotional intelligence and price increases

  • The part emotion plays
  • Developing strategies for keeping calm
  • Handling your customer’s responses

6 Understanding different customer styles

  • Discover your own style
  • Recognising behaviour traits in others
  • Adapting your approach to their style

7 Preparing for customer contact

  • Preparing for specific customers
  • Anticipating their response
  • Dealing with challenging customers

8 Following through

  • Maintaining a consistent approach
  • Resisting requests for discounts
  • Confirming the increase in writing

Any questions? Please just give us a call on 01582 463463 – we’re here to help!