Omar Zenhom explains how to announce a price increase effective January 1 to drive holiday sales. Tell customers now, frame it around improvements you've made, and watch them buy before the hike kicks in.
The price goes up next year. This is all about urgency, and it's all about transparency. You're going to announce your customers that right now is the best time to buy. Why? Because prices increase on January 1st. This plays to the fear of paying more later and not the fear of missing out on some Black Friday deal. It rewards people who take action early without devaluing your product. And like slashing prices, you're still making as much money as you would have made yesterday, but you're showing people that you are improving your product, you. You're improving your service, and therefore the prices are going up and now is the time to buy.
