Raising prices based on inflation, higher costs or whatever you choose. It all goes drip by drip. Not too much so that your customers don’t run for the hills.
To not disrupt the system.
- Slow: 1,3,5,10… Small changes to increase.
- Safe: Keeping what you have.
- Short term: Not big changes now. Sales to keep. Revenue to keep. Profit not to lose. Don’t stir the pot.
It’s a safe way.
It focuses on the present.
And it is irrelevant. Why would your customers have to pay for it? It’s not their fault (nor problem) that your costs go up.
If you think so, stay with me here and ask yourself:
If your costs go down because of X cost, are you also lowering your prices?
It’d be the fair thing to do, right?
If not, there’s a double standard.
But what if your price is the reflection of the value you bring?
What if it’s the representation of your potential to your customer?
Will you still take the safe way?