Allow the possibility to opt out

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You should also encourage them to upgrade their packages or increase their inventory before you increase prices. Be clear about deadlines and future terms, but many PR firms and companies who have experience with this recommend being lenient rather than strict. This will reduce customer churn and increase your brand's prestige at the same time.

Don't be pressured into making a hasty decision. Many businesses may need more time to consider whether the increased spending is worth it on their end. If you give them enough time to think, the answer will often be in the affirmative and you'll retain your loyal customers. Remember, what may be an easy solution from your end may be a serious consideration at bulgaria telegram database their headquarters or home.
When announcing a price increase, if you do it smart, thoughtful, transparent and legitimately, you can expect to retain 75% to 95% of your current customers. Although your numbers will vary a little depending on your market and the competitiveness of your field, if you do it right, you can maintain a stable revenue stream overall.

This depends on your solution and your options. If you are going to increase prices, it's important that your customers aren't pressured into doing so right away. It's important that they feel like they have control over the decision. Give them the option to get a refund or rebate on any prepayments they may have made, and give them the option to opt out.
Again, strive to maintain positive and ethical business practices throughout the process. Set a time frame for when the customer must decide, but don't set a deadline too soon. Set a minimum of 60 days for the opt-out deadline.

Plus, remember we mentioned benefits, bonuses and perks? You can also reduce churn by offering temporary incentives and rewards to your customers who stay with you through the price increase process or upscale your business. For example, 3 months of free subscription, 50% reduction in shipping fees, free upgrade to a higher package for 3 months, etc.