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Raising prices can be a delicate task for any business, as it can potentially lead to losing customers. However, there are ways to raise your prices without alienating your client base. One important aspect is to communicate transparently. Clearly explain the reasons for the pricing increase and how it will benefit the customer in the long run. Giving consumers ample notice of the price increase is also crucial, as it allows them to prepare for the change.
In addition to providing notice, businesses can also offer value-added services to justify the increased cost. For example, providing additional services or perks can help customers understand the reasoning behind the price rise. It's also important to be open to negotiation, and consider offering discounts or special deals to loyal customers to help ease the transition.
Here are a few tips to help you write a professional letter announcing a price increase:
Dear valued customers,
We have been busy at (DH & Co.) over the last 6 months going through some minor, internal re-structuring and assessment plans due to the latest increases in (SKD) stock prices on the market.
Due to this gradual yet steady increase, we have unfortunately been forced to equally increase our (abc) costs.
We have studied the situation in depth and we understand the strain this can put on you when done suddenly, as a result, our aim is to gradually increase prices from our current levels, up by (5%) over the next (6) months in order to put less pressure on our valued and loyal customers.
Please read through our enclosed information sheet regarding the price changes and should you have any questions, please do not hesitate to contact our customer service representatives.
We have fully briefed all of our staff and sales teams, who will be able to explain any concerns you may have regarding this matter.
We thank you for your understanding and look forward to continuing our successful business together for many more long years to come.
(name + title/position)
Dear valued customers,
We are writing to inform you that, due to recent changes in the market and increased operational costs, we will be implementing a small price increase for our products and services. We understand that this news may come as an inconvenience to some of our customers, and we want to assure you that we have done everything in our power to minimize the impact of this change.
We understand that changes like this can be difficult, which is why we are giving you ample notice of the price increase, so you have time to prepare for it. As a token of our appreciation for your continued patronage, we are offering a special discount on all orders placed before the price increase takes effect. This will give you the opportunity to take advantage of our current prices while they last.
If you have any questions or concerns, please do not hesitate to contact us, our customer service team is available to answer any questions you may have. We value your business and hope to continue serving you in the future.
Thank you for choosing our products and services. We truly appreciate your continued support and loyalty.