There will come a time for every business where they’ll need to raise prices for their products or services. Inflation is oftentimes inevitable, and in order to stay afloat in the midst of rising costs everywhere, you’ll also likely need to increase the prices of your products or services. However, increasing the prices of your products or services isn’t always as simple as changing the price tag and calling it a day.
Increasing the prices of the products or services at your business is necessary so that you can continue to make a profit, but your valued customers will most likely not be too happy with it. Rather than surprising your customers with a sudden jump in price the next time they come into your store, you should warn them with a price increase letter.
A price increase letter is essentially an announcement that informs your customers of price changes. When writing a price increase letter, you have to choose your wording very carefully so you don’t upset or anger your customers, considering they’ll most likely be upset about having to pay more money for your products.
Continue reading this blog post to learn more about how to write a price increase letter, why increasing your prices is necessary, how often you should raise your prices, and more. In order to maintain a good relationship with your customers, you need to keep them updated with any changes to your business, and that means writing a letter about price increases.