We recently had a really thought-provoking conversation with a business coach. During the meeting we spoke about the prices of the services that we offer here at Creative Content Company. We were not surprised when we were questioned on our prices.
As a businesses owner I know that our prices are low. As a business we know that the value of what we do, and the quality of our work is high. Just because we can put our prices up, shouldn’t mean that we do?
Our prices for blog posts and social media management have gone up in the recent years. However they only go up for new clients. They don’t go up for existing clients. I feel that my way of thanking clients for their loyalty is to keep the prices at what they originally paid for them.
If a client leaves and then comes back they may find the new prices are higher. However, if they stand by Creative Content Company throughout – they are rewarded by the low prices, as well as our great quality work!
It was discussed that we could send out a letter that states the prices are going up to existing clients. This would include the fact that the price of petrol has gone up, along with everything else that is going up all the time. Therefore, our prices have to go up.
If a client chose to leave because of these new prices then I could lower the prices for them, and only them.
This was where my passionate side came through!
No way was I going to be that car insurance company. The guys that automatically renew your car insurance at a price higher than last year; you can then call them and they put it back down for you.
Customer loyalty is so important to me and I feel this should be rewarded. We take our clients to polo days, send treats and pay for networking events on their behalf as well as other things. This helps them see we are grateful for their loyalty.
Putting up prices ‘because we can’ just doesn’t seem right. It doesn’t sit right with my morals.
When I spoke to my partner about this in the evening, as it was clearly playing on my mind he said something that surprised me. He asked me if my clients knew I was doing this. When we send out treats and invites we confirm how grateful we are for their support… but we never talk about the prices and why they have not gone up.
So that’s why we put this blog post together.
Here at Creative Content Company we are proud not to be like a car insurance company!