Copyright by Meridith Powell
How To Sell A Price Increase? 5 Strategies to Turn Uncertainty To Competitive Advantage I was delivering a keynote in Miami Florida this past week, and the
Great question. So how do you sell a price increase?
meeting planner asked if I would mind hanging around for a little question and answer (Q&A). Now, I love Q&A and engaging with the
5 Strategies Every Sales Team Needs to Turn Un-
audience, so I was more than happy to agree.
certainty To Competitive Advantage
We were talking sales, and just how much the sales process has changed since the pandemic, inflation, supply chain issues and the
1. Get Your Head Right – first and foremost if you are going to sell a
constant impact so much change is having. The audience was active
price increase you need to believe in that price increase. More than
and asking lots of great questions and keeping me on my toes. Then a
anything, your customers and prospects are taking their cue from you.
CEO, looking profoundly serious and concerned, stepped to the micro-
If you are confident in what you are selling, and what you are selling it
phone, and asked the one question that seemed to be at the top of
for, so will they.
everyone’s mind.
2.
Train Your Team – do not expect that your team has the skills,
The question of how to raise prices, and then get your sales team on
the verbiage, or the knowledge to sell a price increase. Spend
board with embracing the concept. The CEO wanted to know specifi-
time with them understanding what they feel like they do well,
cally how you get your sales team to sell a price increase and under-
why, and where they are struggling to position a price increase,
stand that the market will bear and prospects will accept paying a
and then coach them for success. Go on a sales call, lead by ex-
higher investment. She went on to explain that even though her com-
ample, and help them gain what they need to sell confidently.
petition was raising prices, and customers had an expectation of pric-
3. Know Your Reasons – before the team ever goes out the door to
ing going up, she just could not get her sales team to buy in.
sell a price increase, they need to understand the why. What
