Published: 16 August 2022
Nearly every tech CEO faces the same pricing dilemma — labor rates and supply costs are increasing, but customers may leave if prices increase. In this research, we provide four best practices tech CEOs can use to communicate price increases to existing customers in a way that minimizes churn.
Buyers may assumeminimal price increases, if expectations aren’t set appropriately during contract signing.
When communicating price increases, tech CEOs often focus solely on their own internal business issues, as opposed to the value they deliver to clients.
Tech CEOs frequently rely on generic price announcements for all customers versus personalized communications that combine price increases with realized customer value.
Tech CEOs frequently lack the capability to consistently capture and communicate back customer quotes of the value those customers received.
Tech CEOs who need to effectively manage their pricing strategy to ensure retention and uplift should:
Set client expectations by documenting price
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