There comes a time in every product’s or solution’s lifecycle when a price increase must be executed. Whatever the reason, the increase should be announced – but in a carefully planned manner.
We’re Raising Our Rates
The Situation: Your rates are reasonable — no one ever complains and you're being passed by the competition. That means it’s time to raise your rates.
Fisrt rule is do NOT make excuses for raising your rates. Current and potential customers only want to work with winners. People want to think they’re paying more because you’re so in demand. You are raising rates because that’s what successful businesses do.
No matter the reason, you want to make your clients feel appreciated, so don’t spring major cost increases without ample notice, and reward clients for their loyalty.
Dear [Client Name],
I’m writing to let you know that as of [date 30 days from now], our rates will be increasing from [old rate] to [new rate].
However, to thank you for your longstanding relationship with us, [your firm] will be grandfathered in and will be able to keep booking us at the current rate until [date six months from now] — that’s an extra five months before the rate increase kicks in.
Thanks for helping make us a success, and we look forward to continuing to work with you.
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