Any price increase in any realm has potential to upset customers and turn off potential ones. However, in B2B the stakes are often higher, as the loss of just a few key customers for a B2B can have a devastating effect on the organization. That’s why proper pricing communications at a B2B is critical. Here Rodger Roeser, president of The Eisen Group, offers a B2B pricing communications roadmap:
The Letter: This comes directly from the highest relevant official to that client relationship, explaining why they are valued and detailing why the price increase. For example, “We’re making a significant addition to new technology in order to serve our clients even better.”
The Follow-Up Call: The direct customer representative should make contact directly to go over the price adjustments, share any thoughts they may have and showcase specifically how this will assist in creating a more mutually beneficial relationship.
The Video: Another touch point opportunity to showcase “sincerity” and create/solidify the relationship because it is “right from the horse’s mouth,” which also mitigates others from creating a negative spin on the increase.
The Savings: Communicate areas where you customers can save a few dollars. Examples: a 2% invoice deduction if the invoice is paid in full within 10 days of receipt; or a customer referral program in which customers can make money by bringing in new business.
PR News subscribers can read more about managing pricing controversies in "Getting a Customer Price Increase Right: Come On Down, Public Relations."