In a recent blog post, I discussed the two main signs your salon is ready to increase prices. As a quick reminder, those two signs are high productivity and an investment in advanced education. If your salon is booked 85 percent of the time (or at least two months out) and you’ve recently invested in advanced education that allows you to offer a new or unique service, it’s time to raise your prices.
Okay, so you’re ready to increase prices, but how do you go about doing that?
The best way to successfully increase your prices is to announce it! At my salon, we typically send out this news in a marketing email, but you could get creative and do the same with a live Facebook or Instagram announcement.
The key to this announcement is all about the way you frame it. Let your clients know that your salon has been promoted to the next level! It’s very important to communicate (or in other words, justify) why you are increasing your prices. For example, if you’ve received any new certifications or awards, or if certain stylists have received advanced education and there are now new services available as a result of that.
You want this announcement to go out in a very positive way. It’s important to let clients know that your prices will be increasing and to give them a date that it will go into effect. It’s also a good idea to leave a link to your new pricing list or ask them to give the salon a call if they have any questions or concerns.
I touched on this briefly in the last blog post, but there is a fear of losing clients (especially favorite, longtime clients) by raising prices. Don’t let this fear stop you from earning your worth. If you have valid reasons to increase your prices and you do it in the right way, most of your clients will be excited for you and will stay with you. There might be a few clients that don’t want to pay the new prices – this is okay! It’s part of growing as a business. But it will open the door for new clients who are looking for a higher-end salon and are willing to pay the higher price tag.
Now if you are a Meet Your Stylist salon, you have another option to offer the clients who are hesitant to pay the higher price. If you have a client who is concerned, ask them to retake the Meet Your Stylist survey to get matched with a stylist at your salon who has a lower price point. This demonstrates that you still care about their business and are willing to work with them to find a great stylist at the right price.
It’s important to note that Meet Your Stylist does not rank stylists by price, but if you have levels at your salon already in place, it’s a great use for the tool.
Do you have any other tips or suggestions on how to successfully increase your prices? I’d love to hear from you! Email [email protected] or leave a comment on one of our social pages!