This method has 2 parts: Extend and End.
Extend means you extend the contract’s term period and current pricing.
Then you set an end date for those terms.
How does this work exactly?
You extend the terms of your current pricing temporarily to existing clients for a set period of time (while always giving them a reason).
“Our prices go up next week by 10% BUT for you,( existing client, preferred client) we’re going to honor the existing pricing for the next 90 days”
“Here’s our new pricing, but please note, as our preferred client, the pricing we currently have will be extended for another 90 days”
“As of last month, we’ve changed our pricing. In order to minimize the impact on your budget, we will hold off on the price increase for the next 3 months”
These statements give clients extra consideration for their loyalty to you while dropping the news of the price increase. More than likely, clients will be grateful for the extension.
If you have proposals to send out, you can tell the customers that you’ll honor those terms for the next 90 days. This gives your clients the option to take advantage of the old pricing. Clients won’t feel coerced or blindsided.
“You don’t have to put in an order/ sign this contract within the next 90 days, but if you want to take advantage of this pricing, you have that opportunity”.
This makes your client feel like you are trying to honor the contracts, give them options, and consideration for their budgets.
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