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How To Increase Prices Without Losing Customers?

How To Increase Prices Without Losing Customers? How are business owners supposed to navigate the tricky terrain of increasing prices without having their customers disappear? With material and overhead costs skyrocketing at an alarming rate, businesses are facing a savage economic landscape. Failing to adapt pricing strategies to address rising expenses in materials, labour, and energy could lead to devastating impacts on profits. In this video, we confront the elephant in the room and talk about the challenges of changing your pricing strategy to align with the current economic challenges. Join us as we explore the implications of rising costs on your business and provide valuable insights on how to strategically increase prices without losing your customer base. MDH Accountants are an award-winning firm based in Accountants Surrey and Accountants London. Our Director Michael Hemme is known as the Wealth Whisperer! If you like this video, don't forget to Subscribe to our channel!  ⇩⇩⇩ Watch our Business Dashboards video here ⇩⇩⇩    • Business Dashboards–Why Every Small Busine...   Time Stamps:  00:00 - Introduction 00:24 - The reality of skyrocketing prices 01:06 - Encouraging businesses to evaluate if certain products or services are still viable 01:58 - Having transparent communication with long-standing customers about cost increases 02:41 - The challenge of pricing for small businesses and why you should be confident about it 03:40 - Benchmarking yourself against other businesses 04:41 - Keeping your customers ________________________________________________________ Contact Us & Book a Meeting Book a Call: https://www.mdh.me.uk/book-call/ Business Growth Programme & Webinars https://www.mdh.me.uk/business-growth... Business Growth Book https://www.mdh.me.uk/get-your-copy-o... Tax Saving: 74 Ways To Pay Less Tax https://www.mdh.me.uk/74-ways-to-pay-... Funding: A Free Guide for Business Owners in The UK: https://www.mdh.me.uk/funding-guide-u... ________________________________________________________ Say Hi on Social Media: Facebook:   / accountantslondon   Linkedin - Michael:   / michaelhemme   LinkedIn - MDH:   / mdh-business-advisers-limited   Instagram:   / mdhaccountants   TikTok:   / mdh_accountants   ________________________________________________________ #businessowner #smallbusiness #pricingstrategy #businesstips SyncID: MB018IN4HIEI3VH    • How To Increase Prices Without Losing Cust...   Disclaimer: This content is for educational and entertainment purposes only. The information provided, including any details on VAT, tax rates, regulations, etc., is general in nature and may be subject to change. Always consult professional advisors and check for the latest updates before making financial or business decisions.