Announcing a price increase is never fun, but by taking the right steps, you can ensure your customers don't churn. Check out 6 tips for announcing a price increase and 4 price increase letter templates you can use for your business. 

This newsletter was hand-curated while listening to YiPiYaY by Amine. Service Blog November 15, 2021 Hi there, Catch up on your prescribed dosage of customer service with this week's latest and greatest content on the Service Blog.    Enjoy, Flori Needle HubSpot Service Blog How to Let Customers Know About a Price Increase (Without Making Them Mad) It happens to every business. There's been a change in your industry and as a result, the resources and services needed to produce your product cost more. Now, you have to tell your customers, who have been loyally standing by you for years, that you have to raise prices. You're probably putting off the conversation, worried about how customers will react. It almost feels like you're letting them down. After all this time that they've dedicated themselves to your business, you're repaying the favor by increasing prices? Have no fear. Most customers expect that the cost of their beloved products won't remain stagnant forever. However, if a competitor's prices are not increasing, this potentially puts you at risk for customer churn. You must handle a price increase quickly and authentically to ensure that your customers understand the situation and are willing to stick through it. In this post, we'll explain what a price increase justification is, then we'll review some best practices you should consider when making a price increase announcement to your customers. Read More The Ultimate Guide to Customer Acquisition for 2021 In the last six years, the cost of acquiring new customers has increased 60%. Marketing is more expensive and customers are less trustworthy of brands, meaning companies should just give up … right?While the first two statements are correct, the last one is (thankfully) not. Instead of focusing on what's frustrating, focus on what's possible — with the right strategy, you can capture customer attention, create greater engagement and improve sales conversion. In this guide, you'll learn the basics of customer acquisition, how to lower the cost of acquiring new customers, and how to leverage your loyal ones. By the end, you'll be able to build an acquisition strategy so agile, it'll withstand the test of time and ever-changing trends. Keep reading or use the chapter links below to jump ahead. Read More How to Ask for a Referral From a Client [+ Best Email Templates] According to the Wharton School of Business, a referred customer costs a lot less to acquire and has a higher potential for retention and loyalty. In fact, a referred customer has a lifetime value twice as high as a non-referred customer. What's more, these customers cost little to nothing to acquire — a win-win. But how do you go about breaking the ice with your current customers to ask them for help? How do you encourage them to mine their network and help you without the interaction seeming pushy or awkward? In this blog post, you'll learn how to identify potential referral opportunities and how to ask for those referrals once you've identified customers who might be willing to help you out. Read More How to Create a Survey in Excel, Word, Google, Facebook, & SurveyMonkey Over the years, I've received my fair share of bad surveys. These tend to be easier to identify than good ones — in fact, you've probably taken some bad surveys yourself. The questions are often poorly-worded and tend to drag on forever. As a result, you might find yourself unable to complete them due to boredom, frustration, or the time investment required. Good surveys, on the other hand, are seldom forgettable. The best experience you can aim for as the creator of a survey is for the respondent to a) finish and submit the survey, and b) think, "Well, that was tolerable." Read More Ask a Customer Service Expert! Every week, we ask HubSpot's support team to answer questions about customer service. Have something you want to ask? Submit it below! What is customer intimacy? "Customer intimacy is how attentive a company is to address its customer's needs. It's a business strategy that measures a company's alignment and prioritization of those needs." Ask a Question Adam Henshall Co-founder, Idyoma HubSpot, 25 1st St., Cambridge, MA 02141, USA, 888-482-7768 Unsubscribe Manage preferences Update language | Cambiar el idioma | Changer la langue | Sprache ändern | Altere o idioma | 受信言語を更新する