Customers & Price Changes

[alliekerr]

For those who've raised prices in the last year, how did your customers actually react? What was the response like?

[PWTXD]

Hi there, starting off im from a country where slight increase in price can make or break a product or service. 

Here if the price goes up then there is a negative impact on sales and leads. Unless the price change is justified by increased product/service quality or increased portion sizes/services. 

When the product gets costlier people just switch to the next best thing. Which is why most founders love building monopolies inside their niche. Then they expand into other sectors.

In my country to be the top of a niche you have to price the product well, since there are literally a billion people here. 

Then using scale you can get profits but if you have a small customer base then the price must be higher. 

Increasing the price suddenly is a bold move but phased price increases slowly settles the price change in and makes it a smoother transition 

Atleast this is what I've noticed. Hope it helped a little.