In today’s edition, we explore when and how you should raise your prices. The best brands don’t apologise for premium prices. They show quality, position it correctly, and confidently invite buyers into that world. Let’s break down the signals that show you’re ready, and the right way to raise prices without losing trust.
Let’s talk about Rolls-Royce.
They’ve never been in the business of selling cars. They sell quality, status, and luxury.
And Rolls-Royce doesn’t tell you their vehicles are luxurious. They show you by wrapping their cars in acres of flawless leather, using cow hides from colder regions where insects don’t leave marks. They use real wood, and the grain is matched across panels.
And their famous ad, “At 60 miles an hour, the loudest noise in this new Rolls-Royce comes from the electric clock.” That level of quietness, comfort, and craftsmanship is what you’re buying. Because they symbolise luxury.
And Rolls-Royce didn’t stop there.
They positioned their vehicles at air shows. After a day of walking around private jets, suddenly, a £350,000 car seemed like an impulse buy.
That’s the key.
They showed quality first. They positioned it correctly. They made the price feel right.
And this is exactly how you need to think when it comes to raising your prices.
So, let’s look at when exactly you should raise your prices…
Look out for these signs:
- Your quality has improved, but your price hasn’t.
If you’ve upgraded your offer, delivery, or customer experience, but your price hasn’t moved, it’s time. - Your demand is growing.
If you’re getting more interest, closing faster, or struggling to meet volume, your market is telling you there’s room to move. - Your competitors are charging more.
When similar (or less impressive) solutions are priced higher, you’re undercutting yourself. - Your costs have increased.
Rising delivery costs? Passing some of that on would be the smart move.
How to raise prices without losing customers:
- Anchor your price to your quality: People pay more when they see more. Show the detail. Highlight the experience.
- Position it carefully: Rolls-Royce used air shows. Where are you showing up? Who are you surrounding yourself with? Context matters.
- Communicate it confidently: Give customers advance notice, explain briefly why, and hold your ground.
- Reward loyalty: Consider phased increases or additional value for long-term customers.
- Back it up with proof: Use results, testimonials, and visible improvements to reinforce the value.
The reality is that this works because:
- When you show quality first, the price feels like the natural next step.
- When you position yourself well, your price feels like a deal.
- When you communicate with confidence, people believe you’re worth it.
- And everyone loves a quality product.
So don’t apologise for your price. Show your quality first, position it right, and watch the right customers gravitate towards you.
Remember, Rolls-Royce didn’t sell cheap and in mass. They sold quality and in low numbers. It brought about exclusivity as well, and the price became secondary.
Never forget what your service or product is worth,
