A one-day workshop
It’s a fact of life that costs generally increase and as a result prices must go up too.
Implementing an increase without losing customers is challenging. Talking about a price increase with customers never makes for an easy conversation. Your customers will generally decide whether to accept the increase based upon value, as well as the hassle cost of switching and going elsewhere. Even the most experienced salesperson who has implemented price increases before will be fighting back the nerves when faced with the task of ‘selling’ the increase.
In this flexible programme, we will support your internal preparations at whichever stage you and your colleagues are at. From making the decision to increase prices, right through to those on the frontline already dealing with any push-back.
- Understand the business case for increasing prices
- Take steps to research the market
- Consider their customers’ motivations
- Use the six principles of influence
- Identify and adapt for different personality styles
- Assess their level of trust with customers
- Build rapport rapidly with their customers and prospects
Expert trainer
An enthusiastic developer of people, Scott has been working as a sales trainer and coach since 1996. Operating from a solid foundation of over 20 years in retail banking, Scott has worked independently and also as an associate since 2000. Whilst working for NatWest he undertook a number of sales-related roles including Mortgage Advisor, Graduate Account Relationship Manager, FOCUS Sales Manager and Sales Coach in the London-based call centres.
Session outline
1. Raising prices – keys to success
- Understanding the business case
- Researching the market
- Assessing the value of your offering
2. Understanding your customer base
- Assessing your key accounts
- What is your ‘target’ customer range?
- Creating consistency in pricing approach
3. Planning the increase
- Timing your implementation
- Communication strategy
- Elements of a good price increase letter
4. Developing influencing skills
- The Trust Equation
- The six principles of influence
- Discovering your customer’s buying decisions
5. Emotional intelligence and price increases
- The part emotion plays
- Developing strategies for keeping calm
- Handling your customer’s responses
6. Understanding different customer styles
- Discover your own style
- Recognising behaviour traits in others
- Adapting your approach to their style
7. Preparing for customer contact
- Preparing for specific customers
- Anticipating their response
- Dealing with challenging customers
8. Following through
- Maintaining a consistent approach
- Resisting requests for discounts
- Confirming the increase in writing
