As seen in the Tried & True Spring 2022 issue
If you think coping with market shifts and price increases makes you shudder before a sales call, imagine being in the shoes of your customer who quakes at the sticker shock.
These days, everyone is taking a closer look at product prices. From the gas station to the grocery store, consumer cost awareness is higher than ever. That’s why Fratco has gathered tips and advice from our internal teams to help you field client concerns and questions while assuring your customers we’ll continue to produce nothing but the best pipe in the business.
Budget is the bottom line when it comes to business decision- making. Brands with strong name recognition—like Fratco—have quality product, stellar customer service and generations of loyal customers. Competitors’ products may not have those traits going for them, yet their pricing may be tantalizing enough to consider them. Remind your clients that the last thing they want to worry about is faulty pipe and if the manufacturer stands behind their product. When price increases happen, it’s okay to say, “To maintain the Fratco integrity you know and have trusted for years, this cost increase assures that your pipe will be at the level of quality you expect from us.”
There’s no easy way to say prices are increasing. Communicating that to customers upfront is critical. Countless companies make product price adjustments all the time, and, unfortunately, their consumers are none the wiser. However, when their invoice arrives and doesn’t match the previous month’s totals, brand distrust begins to root. Service complaints, poor reviews and losing customers happen, but it doesn’t have to for this reason. Price adjustments are a part of business. Be transparent and share the news upfront—always.
BE READY TO LISTEN
Pain points are real. Take time in the field to hear customer concerns so you can better understand how price increases and materials shortages affect their business. Put aside your assumptions of what your clients think and gather information about how you can help lead them towards compassionate solutions. You can’t always solve their woes, but offering an open ear to listen will mean more than you know. That is the Fratco difference.