B2BVault's summary of:

Price Increase Announcement: Announce Price Changes the Right Way

Published by:
Userpilot
Author:
Sophie Grigoryan

Introduction

Telling customers you're raising prices is hard. This article shows how to do it in a way that keeps users informed and loyal.

What's the problem it solves?

When prices go up, customers can feel caught off guard or frustrated. If companies don’t explain the change clearly, people might leave or lose trust. This article explains how to share price changes in a smart and respectful way.

Quick Summary

Raising prices is often necessary for companies to grow, add new features, or deal with rising costs. But the way that news is shared can make a big difference in how customers respond. A good price increase message should be simple, clear, and explain the reason behind the change.

The article outlines several channels to use when informing customers, like email, in-app messages, and social media. It also highlights the need to personalize messages, give advance notice, and point out the value customers are getting in return. Using special offers or keeping older plans for loyal users can also help people accept the changes. A sample letter is included for easy use.

Key Takeaways from the article

  • Always explain why you are raising prices (like better features or higher costs)
  • Use email, in-app messages, and social media together to spread the word
  • Let customers know early so they have time to plan
  • Show the value they are getting with the new prices
  • Keep old plans for loyal users if possible
  • Offer deals or discounts to ease the switch
  • Ask for feedback and be ready to answer questions
  • Avoid changing prices too often to keep trust

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