This is a YouTube video titled "RAISE YOUR PRICES! 📈" containing a monologue by Allison Maslan recorded on August 15, 2023. In this content, Allison shares a business anecdote about advising a client with an avocado oil company to double her product prices, explaining how raising prices can increase demand and profitability despite initial concerns.
I remember a woman that we worked with that has an avocado oil company. They brought avocado presses from Italy. They had avocado trees in Escondido. And we helped them create all these other lines of products. Avocado shampoo, avocado skin care. Her profit margin wasn't very high. It was an expensive product to make. And I told her, I said, you need to double your price. She's like, alison, no distributor will take me. I said, I'm telling you, you have a premium product. I said, people will want it more if the price is higher. So once she doubled her price, they could not keep it on the shelf. You may lose a few clients when you raise your price, but overall you're actually going to grow more. But most people will stay. And if they leave, they will often come back because they realize that they had something really, really good.