I have an established service/business I have been running for years, and I am considered an expert in my field. I am rebuilding our very old site, which will have many new features and a membership aspect. Unfortunately, my pricing has remained the same over the last several years, and I have always given away more for free than I should have from a business standpoint. I want to make this a viable business model and compensate myself for the time I pour into it. The new site launch brings so much to the table, but it will also cost more to maintain. How do I raise my prices without losing my customers? How do I price our new products without pricing them out? There is no one else who provides this local service.
How do I raise my prices without losing my customers?
If you are provide tremendous value to your customers; If you are helping your customers to get the results they are aiming for; If you help your customers to generate more make money or/and reduce their cost
You should definitely raise your price by 2X, 3X or 4X for the services that you are the EXPERT, the reference!
Please understand that by raising your price you will lose some customers...But ask yourself are these really your customers or you are their little b*tch?
If your customers can't value your services as an expert and Nickel and Dimes you. Send those customers to your competitors ;) Maybe is about time for you to find new customers that respect your time, skill and talent
Example: I prefer to deal with 10 clients that pay me 10K each than 100 clients who are paying 1000$ each.
How do I price our new products without pricing them out?
It depends what you want to do!