Charge more, earn more: How to confidently increase prices, without losing customers

By Roman Kmenta

Increase prices confidently without losing customers

• successfully implement price increases
• enforce higher prices
• increasing sales and earnings

Professional price management is an essential success factor for most companies. A particular challenge is to raise the price for existing customer

• Language: English
• Publisher: Kmenta Beteiligungen KG
• Release date: Mar 4, 2024
• ISBN: 9783903528024

Roman Kmenta

Marketing and price expert Roman Kmenta has been an international entrepreneur, keynote speaker and bestselling author for more than 30 years. The business economist and serial entrepreneur makes his many years of international marketing and sales experience in the B2B and B2C sectors available to over 100 top companies as well as many small businesses and sole proprietorships in Germany, Switzerland and Austria. More than 100,000 people read his blog or listen to his podcast every week. With his lectures he gives salespeople, executives andentrepreneurs food for thought on the subject of "profitable growth" and gives his listeners and readers impulses in the direction of a value-oriented sales and marketing approach.

Book preview

Table of Contents

Table of Contents

Preface

The price as the strongest  lever for profit

Profit doubling through minimal price increases

This is how customers decide

Increase in value

How does value increase happen?

Where does value increase happen?

Requirements for  successful price increases

Your pricing strategy as the basis

Types of price increases

Why price increases are not made

Less turnover, more income

Communication of price increases

Regular customers or new customers

14 strategies, tactics  and tips for price increases

1. Calculate scenarios

2. Observe the right timing

3. Increase prices regularly

4. Prepare price increases professionally

5. Increase negative expectations

6. Lower and increase at the same time

7. Change performance components

8. Differentiate prices

9. Leave prices unchanged

10. Change units of measurement

11. The correct price presentation

12. Generate sales quickly

13. Use psychological price limits

14. Use the correct arguments

Summary

About the Author

Preface

We are then times more expensive! That would of course be a very self-confident or cheeky way of informing your customers of a price increase. This is also a very important factor for successful price increases: the salesperson believes that the new, higher prices are absolutely ok and definitely not too high.

But the economic practice looks quite different. Price increases are a sensitive issue for sellers, entrepreneurs, the self-employed and companies in many industries. Many find it uncomfortable to ask for more. As part of a regular customer relationship, customers could react angrily to price increases and even end the relationship.

For any new business, price increases worsen the chances of receiving orders - at least so the fear of many sellers. And yes, there is something to it. All of this could and does happen from time to time.

At the same time, for many companies that I know, price increases are indispensable in order not only to generate revenue over a longer period of time, but to remain or become profitable. Sales are nice, but not enough to run a company successfully in the long run.

There has to be a profit, a decent profit. And that in turn is only possible with prices that make it possible. Of course, costs also play an important role. Lower costs leave more scope for higher yields. As an entrepreneur or manager, you should also deal with this. However, they are not the subject of this book.

As for the price increases, we are often in a quandary: We know that we need this, but we resist - the reasons mentioned above - on the other hand, to implement them.

It is for this reason that I wrote this very special book. It should help you to see price increases not only as a necessary evil, but to implement them as an important strategy in your company.

As an entrepreneur or manager, it will provide you with ideas for procedures and strategies on how you can plan price increases so that they can be implemented successfully and profitably. These strategies not only affect communication with customers, but also the company as a whole.

At the same time, you will also find short, simple tips in this book on how to present and sell a planned price increase to customers in such a way that they still love you.

All in all, it is a book that helps you, to make your business more profitable.

Good luck with it!

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Roman Kmenta

The price as the strongest

lever for profit

If you sell something and want to increase your profit, then, as mentioned, you can either start with the costs (the purchase price or production costs) or the sales price. Both basically make sense, although I keep observing that companies pay too much attention to the cost side and literally save themselves to death, but at the same time leave a lot of money behind or even waste it on the part of the sales price.

The income leverage of the sales price is stronger than that of the costs. Why?

An example of this:

Let us assume that you sell a product for $ 200 that you manufacture or buy for $ 100.

If you save costs, you reduce