Channel Eye has joined forces with Royston Guest, leading Business Growth Coach and CEO/Founder of Pathways Global, in our column, ‘Ask the Business Coach’.
Inflationary pressures are going through the roof, and cost increases are everywhere. Now more than ever, transparency in your pricing model is key.
- Pricing = Transparency, ethics, trust, loyalty.
- Communicate with your customers; be specific.
- No generic statements.
- [1.07] This conversation is deeper than just transparency. It also covers ethics, being a trust brand, building long term loyal relationships.
- [1.49] If you’re not transparent with your customers on price, they might start to question what is a true cost increase vs what is profiteering. Communicate all price increases with your customers and explain the why.
- [2.00] Your communication shouldn’t be just a generic statement but a well thought through explanation as to what the price increases are and how they are affecting your business. If it’s real cost increases, you should easily be able to explain these and their impact.
Do you have a question for the Business Coach?
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