Jan 13, 2023
Canmore, CANADA

While the Feds on both sides of the US/CAN border are crowing that prices increased less than expected last month – I’m pretty sure most of you didn’t experience it. If anything, officials are understating inflation by large margins. 

(Can’t read the full email – click here for the online version.)

So, when a friend of ours crowed about his sales success, based on a conversation we’d had about how businesses should handle the new, inflationary environment, we naturally wanted to hear more.

“Well,” he said, “when I have a customer hemming and hawing about a piece that I can see they want, but are reluctant to buy now, I simply tell them this. 

‘You know, prices are going up next month, probably by 10%, you might want to consider buying this now.’ 

“It’s amazing how fast they get their credit card out to avoid the increase.”

This is an excellent example of using the common knowledge of rising prices and stating confidently, to your customers, that prices are and will rise. Why wait until then?

Naturally, you need to have a good product or service. Ideally unique or with that perception. 

Next, you need to have both a sales process and trained, experienced salespeople, to know with whom and when, a close like that might be effective. 

As I’ve written on these pages countless times before, you want to have a system in place where you can and do, increase prices, on a systematic basis. It would be even better, if in addition to this, you have different packages, each more expensive than the next. 

You’d be amazed how much more your affluent customers will buy if you had higher priced items available.

These strategies of increasing prices and bundling services and products together are two of the 12 key strategies we use to help our clients achieve exponential revenue and profit gains, in as little as 60-90 days. 

You can see what results are possible for your own business by heading to: https://hughtafel.com/sim 

Until next week, 

Stay healthy and focus on profit! 

 - Hugh 
The “Profit Accelerator” Expert

P.S. If you own or operate a business that uses appointments to drive sales, and you could use more, this month, we’ve developed a new system where we can get you all the appointments you want, or you don’t pay! Check it out here.

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