Increasing the price of your product or service is not a simple step. The target audience often does not accept price increases, but accuses you of greed and greed, regardless of whether or not you have the right to approve it, and procedures that can be resorted to before the decision to raise the price, which helps to convince customers to accept the expected increase, and deal with them positively.
In the beginning, it must be emphasized that the art of selling from the difficult commercial arts is physical and psychological exhaustion because it aims to sell your company’s services or products, and to inform the target audience of their characteristics and advantages, ultimately convincing them of the purchase and payment process. Buying easily, but governed by several factors cause the success of the transaction or not, including: social factors, cultural, psychological and material.
Many of the objections raised by customers are related to the price of the product only, so if your product price increases, the effect of these objections will increase and customers will be prompted to refuse the product and resort to competitors or other products , Especially if the prices of their products are relatively low than the new price of your product.
The development of the product assures the customer of the care to provide the best
It is very important before thinking about price increases to make some adjustments to the product, whether in form or content; the continuous development of the product and the way it marketing and presentation confirms to the client the extent of your company’s efforts to keep up with the changes, and your diligence to provide the best to him, Competitive advantage of other companies that prefer to maintain their position, and is not keen on the continuous development of their products, which contributes to the conviction of the customer to increase the price of the product, and can be satisfied as long as it gets a product of high quality and elegant image at the same time.
Amplify the value of the product against underestimating the price increase
Another important marketing tactic to convince the customer to increase the price of your product is to focus the product’s advertising on its future value for the customer, suggesting that it may pay extra money today, but it will have a unique value that will remain a long period of time or will last a lifetime , Depending on the type of product.
This method is based on underestimating the price increase, and in turn maximizes the value of the product and the benefits the customer will acquire, ie, interest-based selling, not the cost it will incur.
The importance of this method is that the increase in the price of the product is not seen as a separate element of the sale, but rather it is part of the marketing strategy and its components. When you decide to increase the price of your product must develop quality or shape, The customer compared to the additional price, which helps convince him to justify the price increase and then buy.
Understanding customer needs increases their conviction of the importance of product acquisition
The previous point is closely related to the optimal utilization of customers’ needs in convincing them of the importance of acquiring your product and ignoring the increase in price. Here, it is necessary to know and understand their needs; because it is one of the foundations of the success of the marketing process, whether selling to individuals or companies, no one is forced to buy a product after raising its price. Unless it represents an added value that is difficult to dispense with and recourse to competitors.
Therefore, there is a permanent need for one or more reasons to convince customers not to object to the price increase and to accept the purchase of the product, which is called “Unique Sales Proposition -USP”. This can be chosen based on market needs or the nature of the company’s activity customers themselves.
To convince the client .. Invest the benefits of the product and not its specifications
Depending on the persuasion method used with the customer to determine whether or not to accept the product price increase, it is best that the marketing strategy focuses on stating the benefits and benefits that the client will receive and emphasizing, rather than addressing the traditional product characteristics. the product?” And not the specifications; because the answer to this question is to decide the final decision to accept the new price or not, and then go to other alternatives to competitors.
One of the important rules in your product promotions is to use a vivid language that makes them remember their benefits for a longer time, and to appeal to the customer’s feelings rather than to his mind, such as saying that the acquisition of the car – despite its high price – confirms your social status and makes you Talk about its distinctive design or the power of its engine, and so on.
Promoting tangible benefits for your product is more convincing to the customer
You can not overlook the importance of promoting the benefits of your product so that it looks tangible to the customer, because it usually ignores the abstract advantages that speak in general, and tends to be convinced of the tangible advantages expressed in numbers, such as saying that the acquisition of this product and the waiver of its price will save the customer the cost of purchasing other products Lower the quality of it by (number or percentage), rather than speaking in general without specifying.
In conclusion, it can not be said that increasing the prices of any product and inviting the public to accept this will be an easy process. On the contrary, if it is not a real motive that contributes to increasing the quality of the product or service, it will be a “trap” set by the company itself. From it to other products.
The customer can not accept price increases except in very limited cases, which must be justified by a logical mechanism accompanied by a convincing promotional campaign that touches on the convictions and habits of the client.
Then it can be said: The plan has succeeded .. The product has maintained its leadership in the shelves of stores and stores .. Otherwise, the results may have a very negative impact on the results and sales of the company.