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A good letter should have a brief salutation, the statement of your intent to increase your rates by a specific amount starting on a specified date. Then add a statement where you thank your clients for their business.
In this article, we discuss what a rate increase letter is, why businesses may increase their prices and how rate increase letters help foster business relationships and provide tips, a template and two examples for writing your own.
Every business needs to raise prices at some point—but how do you tell your customers? A price increase letter template can help.
No one wants to inform customers of a price increase, but with these best practices—plus plenty of price increase letter examples—you can ensure the best possible experience and keep them loyal.
Learn how to write an effective price increase letter and increase prices without losing customers. Includes templates & free download.
A Price Increase Letter is a formal communication sent by businesses to their clients or customers, notifying them of an upcoming change in the pricing of products or services due to various reasons like increased costs of materials, labor, or other external factors.
How to Write a Price Increase Letter to Customers. Navigating the delicate matter of raising prices necessitates a balance of transparency, empathy, and professionalism. While it’s inevitable for businesses to adjust their prices over time due to various factors, communicating this to loyal customers can be a sensitive task.
#1 - Let customers know in advance. Nobody likes surprises when it comes to spending. Imagine if your favorite coffee shop suddenly raised its prices without warning — you'd probably feel a bit annoyed, right? The same goes for your customers. Giving your customers advance notice about a price change is essential to keeping their trust. Here's why:
Announcing a price increase through a price increase letter, listing it on your website, and posting it on social media gives businesses a chance to tell their customers why the change is happening now.
In this post, we'll explain what a price increase justification is, then we'll review some best practices you should consider when making a price increase announcement to your customers, and give you a free price increase template to take with you.