YouTube video offering practical advice for business owners who fear raising prices. Uses a case study of a consultant named Brandon who helps home service companies; examines metrics (leads, close rate) and recommends raising prices when close rate is high to reduce demand and manage capacity.
Here's how to raise your prices without losing clients. And if you see me looking down here, I just have a couple notes that I've taken from working with over hundreds of video.
Business owners in their business, working with people who are scared.
To raise.
Their rates, scared to charge more because they're scared they're going to lose clients. And if you're maybe in that position, then this video is going to be for you.
So I was working with one of.
Our clients, Brandon, and so he works.
With home service companies, he works with home improvement companies, painting companies, anybody who does like a home service, home service type job. And I was working with him and he was just saying, he's getting super busy. He was getting super overwhelmed. He had so many clients and he didn't really know what to do next. And so as I was speaking with him, I took a look at the numbers and I said, okay, let's look at what is the close rate? What's your price point? How many leads are you getting? And he was getting plenty of leads. He was getting plenty of calls. And then I looked at his close rate. His close rate was like 60 to 70%. And I said, brandon, here's the first problem. Like, if your close rate's above 40%, the first thing I typically look at is like, why don't we keep increasing our price points? Why don't we keep increasing those and trying to get that higher and higher and higher to drop your close rate to like 40 or 30%? And his thing was, well, I'm worried I'm going to lose clients.
