Price Increase Announcement, How to Do It Right

Increasing prices is easy. The hard part is telling customers about that change and keeping them with your brand.

In June, one of my clients decided to increase the price of their subscription boxes from July 1. We needed to announce it to 1,450 active subscription customers.

Here’s how I planned their email campaigns:

Messaging:

1. Asked the founder to write a personal message: emphasizing brand mission and reason behind price change, clarifying the new price and assuring customers that certain benefits will stay the same.

2. Encouraged customers to take advantage of the current price to stock up before the new one is effective.

Campaigns calendar:

• Email 1 - price change announcement, sent to all active customers on June 2

• Email 2 - price change reminder, sent to all active customers on June 23

• Email 3 - last-day reminder, sent to all active customers at 12:00 AM June 30

• Email 4 - last-day reminder, sent to all active customers who haven’t opened email 3. Send at 12:00 PM June 30

• Email 5 - last 6 hours reminder, send to all active customers, at 6:00 PM June 30

• Email 6 - last 3 hours reminder, send to all active customers who haven’t opened email 5, at 9:00 PM June 30

For emails 2 to 6, I just added a little reminder at the top of each email. The rest is kept the same as in email 1.

Results:

Key takeaways:

• Price increase is a (very) sensitive matter. Most of us hate it, and so do your customers. Ensure you provide a significant, authentic reason behind the change.

• Make your email personal and send it from your (business owner) own email address.

• Send the first announcement at least one month before new price is effective and then send reminders until that day. But don’t communicate too much.

• Plan, plan, and plan. Don’t just go to Klaviyo, write an email, and send it.

That’s it for today! Hope it helps you plan your price increase announcement.