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In This Issue
1. 2025 Gains, 2026 Growth
2. Smart Systems, Superior Solutions
3. Podcast Preview
4. The Right Way to Raise Prices
Sticker Shock Survival RAISE PRICES WITHOUT LOSING CUSTOMERS
Over the past few years, we’ve watched prices rise at the grocery store, gas pump, restaurants and everywhere else we spend money. Tariffs have left many business owners feeling like they must raise prices to offset their potential cost, but this can create new concerns, as the increased prices will put some customers off. You can’t realistically eat the cost of tariffs or inflation while expecting to earn the same profit. However, if you raise prices, you risk scaring away customers who can no longer afford or want to spend so much on your products or services. So, what do you do? As you start developing your business plans for 2026, consider including an action plan in case you need to raise prices. If you’re
unsure what you may need to do, don’t worry! We’ve got two solutions that could prove beneficial for your business. BE TRANSPARENT The quickest way to send your customers running for the hills is to raise your prices without notice or explanation. If you charge them more for the products or services they’ve used for years, they deserve to know why. If you don’t explain, your customers will assume you based the decision on greed. Email your customers or post on your social media page whenever you need to announce that you will have to raise the price of your products. Be honest and straightforward. While this keeps your customers in the know, it also has another unintended effect. Those
who love your products or service will rush to purchase before the prices increase. ADAPT YOUR MARKETING Your customers need a reason to buy from your business, especially if they can get similar products or services for a lower price elsewhere. Think about what separates your company before putting on your creative hat and developing a story around your brand. Consider who made your product, what it represents and why it’s worth purchasing for your customers. You need to connect with their emotions if you want them to remain loyal when prices rise.
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