1070: Sell a Price Increase Without Losing Customers, with Jeb Blount

Jun 28, 2022

51:16

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Episode notes

Jeb Blount is the Founder and CEO of Sales Gravy and bestselling author of 14 books, including his latest one called Selling the Price Increase: The Ultimate B2B Field Guide for Raising Prices Without Losing Customers. The conversation on price increase is one that sellers and buyers simply do not want to have. It is, however, an essential one. Jeb discusses how and why you have to defend your price increase to your customer and drive it all the way to acceptance. He breaks down the differences in dealing with big and small companies and how preventing resentment and contempt should be your primary goal.

HIGHLIGHTS

● Writing Selling the Price Increase

● Your approach prevents resentment and contempt over price increase

● Nonnegotiable and negotiable price increases

● Analyze your customer risk profiles

QUOTES

Jeb: "You didn't treat them like you would want to be treated. They're going to get mad whether you go in or not, but they're going to get a lot madder when you give them two days to make a decision whether or not to stay with you. So that's the other way. The other way is just taking people for granted."

Jeb: "You get 1% price increase, you get a 400% higher return on that 1% investment to your bottom line than you do for something new you sold. So the price increase has got a massive impact to your bottom line. But it doesn't have an impact if you lose the customer while you're getting the price increase."

Jeb: "Getting prepared means that you need to understand the basis for the price increase and you need to be able to take the inbound call, listen to the person, deal with it, and give them the reasoning behind it because your job is to defend the price increase."

Find out more about Jeb and get his latest book in the links below:

● LinkedIn: https://www.linkedin.com/in/jebblount/

● Amazon: https://www.amazon.com/gp/product/B0B45B7V3Q/