What close ratio do the speakers cite as evidence customers accept the price?

Mike AndesFounder, Augusta Lawn Care and Homeworks · Founder of Homeworks and Augusta Lawn Care

PRICES ARE GOING UP 📈

24 Oct 2023 · 0 min

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Short excerpt from the YouTube video "PRICES ARE GOING UP 📈" (creator: Mike Andes). Two speakers discuss why prices are increasing (rising costs for gas and trucking), how many long-term customers understand increases, and a pricing/retention stance that losing price-sensitive customers can be beneficial. One practical benchmark mentioned: closing rates of ~50–70% suggest the market accepts the new price.

Questions this video answers

Approximately 50–70%.

Well, you said 20, 24, the prices were going to go up. Why is it going up now like a week later? If a customer's.
Been with him for either a year or five years or 10 years, they know everything's going up in cost. Gas is going up double, trucks are double.
Yeah.
And most customers understand that. And the ones you don't, you don't want those customers. Yeah, they're the ones who also call you every service asking about.
That's what I was thinking when you were talking about it.
You get rid of the worst people and you're like that hurt.
Thank goodness they're gone.
Let your close ratio be your evidence. If you're closing 50 to 70%, majority of people think you're good enough price.
What then for these clients or leads that I have talked to recently, how do you think they're going to react to that.