Selling the Price Increase

7Triggering Resentment and Contempt

Let's review the five fears from Chapter 2. We fear that when presented with a price increase, customers will:

1. Defect to a competitor and we'll lose the account.
2. Stop buying or reduce purchases of a particular product or service.
3. Bring up past service deficiencies or product-quality defects as an objection to the price increase.
4. No longer like or trust us and the once-friendly relationship we had with the account stakeholders will disintegrate.
5. Get angry, argue, and pummel us with hard objections and rejection.

Though each of these worries are stoked by our own fear of rejection, they are also legitimate concerns. The wrong approach to price increase conversations can lead to these outcomes.

Treading on Raw Emotions

Step into your customer's shoes for just a moment and consider what is truly important to them. Perhaps you think that they want low prices, savings, value for their money, or a fair return on investment. While these things and more are important, it's not what they really want.

In the last chapter we established that we are dealing with irrational emotional human beings. People who feel first, then think. People who want the same things as you. They want to feel:

• Appreciated
• Significant
• Respected
• Safe and secure
• That their boss is pleased
• That they have done a good job
• Proud that they have made good decisions
• Satisfied that they are paying a fair price

These are the outcomes that matter to your customers much more than ...