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Want to Raise Your Prices?

Customers will demand to know why, so be ready to give them an explanation.

Opinions expressed by Entrepreneur contributors are their own.

When customers object to a price increase, most salespeople immediately defend and rationalize their pricing. Their first instinct is to tell customers they're just passing along the increased cost of doing business. Those are your company's problems, not theirs. Instead of defending your price increases, why not brag about them? We live in a supply-and-demand economy. One of the responses to increased demand is higher prices. If increased demand is the justification for your price increase, you're really saying that more and more customers are recognizing the value you offer. That reinforces your prospect's decision to buy. This rationale will only hold up as long as it's based on truth. Don't claim rising sales if they don't exist.

Excerpted from Creative Selling: Boost your B2B sales