How to Effectively Communicate A Price Increase To Your Customers

It can be nerve-wracking to have to announce a price increase, with uncertainty of how it will be received and how it may affect your business. Here's an example of how TryMus Group can help.

Due to rising operational costs and the current financial landscape, one of our client's made the difficult decision to raise their prices. And so, we worked closely with them to execute a strategy on Facebook and Instagram to openly communicate this price increase, as well as have a contingency plan if the news was not well received.

Here's what went into our process:

Stories

During the two weeks prior to the price increase, we posted several Stories focusing on transparency about the change. We included the full updated price list and gentle reminders that the increase would be taking place soon.

Announcement Post

Two weeks prior to the price increase, we also published a carousel post explaining, with full transparency, why and how much the price would be increasing. We highlighted our client's appreciation for their community and commitment to serving their customers for years to come.

Customer Service Protocol

In anticipation of negative feedback, we worked closely with our client's Customer Service team to address any inquiries. In the event that a follower sent a private message voicing their concerns, we had a response crafted that would allow for direct dialogue between our client and the customers.

Our plan was to acknowledge the feelings that customers were having, as we understood how this decision could negatively affect them. Then, we would further explain why the price change had to occur, so they could see why our client had to make the difficult decision. We reminded them that they could still purchase at the original price for the next couple of weeks. Finally, we would provide the Customer Service email address so that they could further discuss with the team if needed.

How did it go?

With our carefully curated strategy focusing on transparency and honesty, the price announcement went off without a hitch!

Our client received an outpouring of love and support with 2300+ likes and 95 comments. Although, thankfully, no negative feedback was received, we were well-equipped to manage these responses and provide agreeable solutions.

Need a social media marketing agency that can handle all your business needs, including difficult situations? TryMus Group has you covered.

TryMus Group is a Toronto-based social media marketing agency that specializes in social media and influencer marketing, building narrative-driven brands through strong storytelling and compelling content. Led by experienced social media experts, TryMus Group can help strengthen your brand identity and fulfill your unique business goals.