Selling the Price Increase

1Sales Professionals Hate Price Increases

I clearly remember the very first time in my career that I was asked to go out and get price increases from my customers. My boss called a meeting with all of the account managers in our region. At the meeting, he handed each of us a list of our accounts and the monthly revenue volume of each account.

I sunk in my seat as he dropped the bomb. We each needed to get a net 6 percent increase from our account base. He asked us to go through the list and choose the accounts to approach for price increases. He gave us until the end of the week.

Back at my office, as I started pouring over my accounts, I became sick to my stomach. I'd worked hard to establish those relationships. Many customers had become friends. Raising their prices felt like a form of betrayal.

As I evaluated each customer, I found good reasons why I shouldn't approach them with a price increase. I went through the list again and again but could only identify a few accounts to go after. I came to the conclusion that it would be impossible to net a 6 percent increase on my customer base.

When I met with my boss at the end of the week, I unloaded all of my excuses. But to no avail. He told me flatly and firmly that our leadership wanted a 6 percent increase and there would be no excuses. I had no choice.

I left that meeting feeling deflated and consumed with fear for how my customers would respond. I almost quit my job over it. Prior to being told I had to sell price increases ...