The rising costs of business often make it necessary to increase prices. While it’s easy to introduce new customers to new rates, some lightworkers and spiritual healers may feel hesitant about raising prices on longstanding customers for fear that customers will react by taking their business elsewhere. But if you set the intention that you attract the clients that can be best served by your growing and evolving business, you can release those clients that fall away and know that new clients who are willing to pay your higher prices will take their place.
To ease the transition for your current clients, consider taking the following steps.
Provide an explanation. Let longtime customers know that a price increase is necessary for the viability of the business. For example, explain that the costs of running a successful Reiki healing business have increased since the last price hike and also make sure customers know that your rates are still competitive with the competition. A letter sent to customers could provide this information, as could a sign that you post on the premises of your business before the increase takes effect.
Raise rates gradually. The last thing you want to do is surprise your customers with an immediate price hike. Instead, let regular customers know ahead of time by how much prices will be rising, giving them a chance to make the adjustments to their budgets. Let longtime customers know that you appreciate them by allowing them to adjust to the new rate gradually over time even if new customers are already paying the new prices.
Offer subscription discounts. If you offer a regular service, tell customers they can pay the old rate if they agree to pay a subscription fee for your service or pay for multiple months in advance. For example, a regular client could get a discount if they buy two or three psychic readings in advance (and simply use them when they want to use them). Not only will the customer be saving money, but you get to lock in sales of your service for the next several months. The advance payment could also improve the business’s cashflow.