How Can A Small Business Go Back To Normal Prices After Using Big Discounts To Get New Clients?
Offered unseen prices to call attention and worked. We give the best service and have the biggest inventory in town. Want to go back to normal prices without having this move backfire on my sales.
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For one thing, anytime you offer a big discount you need to specify that it will be for a limited time. Now that you have drawn clients with the discount it is tricky. Most people are reasonable to understand that you can’t afford to loose your business because of selling too cheep. In other words, I have found that if your customers like the way you do business and your honesty, explain to them that it cost more to operate your business. All prices go up on everything. I would suggest to talk with your clients and explain the situation to them. Sure you will loose some of them but if that’s all their there for is to get a discount then you will eventually loose them anyway because someone will under sale you eventually. I stick with one company to buy all my parts because I trust them, they are helpful and we now have a good business relationship. Sure I can get things cheaper but why mess up a good thing. You must have that kind of relationship with your clients. If I wanted to work and not make a living at what I do than I could stay at home and watch TV and the outcome would be the same. I would suggest though not to jump the prices up all at once. Do this over a period of time.