The price hike era is here. Try not to panic.
Look. Everything is more expensive right now. Energy, materials, shipping, breathing. Whatever fairy tale you were living where you could absorb those costs and stay profitable, it’s over.
If your margins are doing the financial equivalent of a slow-motion car crash, congratulations: it’s officially time to raise your prices.
And yes, you can do it without lighting your customer relationships (and your reputation) on fire. Here’s how:
Step 1 | Actually warn people. Shocking, we know.
Raising prices without telling anyone = a one-way ticket to angry DMs, refund demands and exponential existential dread.
Give people at least 30 days’ notice. Longer, if you’re feeling generous. Use the time to communicate like your rent depends on it, because it kind of does.
Step 2 | Say it everywhere. Like, everywhere
Posting one sad Instagram Story slide is not a communication strategy.
Tell them on your website.
Tell them in emails.
Tell them in the app.
Hell, rent a skywriter if you have to.
If a customer says: “Wait, you never told me,” after the fact, you did it wrong.
Step 3 | Be brutally honest
This is not the moment for PR spin or sad violin music.
Tell them straight: costs are up, staying open isn’t free and you’re not running a charity. (Unless you are?)
If you’ve improved your service? Great. Say that too.
If you haven’t? Still be honest.
People hate surprises, but they weirdly respect candor. Especially when their wallet’s involved.
Step 4 | Offer a consolation prize (optional, but smart)
If you can, let loyal customers lock in old pricing by paying ahead. Or keep legacy customers at their current rate while hiking prices for newbies.
This does two things:
- Makes existing customers feel special.
- Gives you an excuse to say, “Last Chance” in your marketing without feeling like a fraud.
Step 5 | Break it into baby payments
Big numbers are scary. Small numbers are… still annoying, but more tolerable.
If you offer services people pay for regularly: salons, therapists, trainers etc, split the annual cost into manageable monthly payments.
Congrats. You just made it sound cheaper without actually making it cheaper. Just more manageable.
Step 6 | Brace for impact
Someone will be mad.
Someone will leave a salty review.
Someone will post about you without tagging you.
Prepare your responses ahead of time. Stick to your messaging. Stay calm.
You’re not being greedy, you’re doing what it takes to stay in business. Anyone who doesn’t get it? Not your target customer anymore.
The Bottom Line
Raise your prices. Own the narrative. Don’t apologise for surviving.
