September 24, 2024

23: The Profit Playbook: 3 Insider Strategies for Handling Price Increases and Maximizing Gains

39 minutes

Welcome to another episode of the Tapped In Sales Podcast with your hosts, Bud and Mikey! In today’s episode, we dive into the complex world of price increases and how to navigate them while keeping your profitability intact. With price increases on the horizon, it’s time to think strategically and avoid common pitfalls.

We explore three key strategies that every sales team and wholesaler needs to handle price increases like a pro:

Limiting Bridge Buying – Learn how to manage inventory effectively and avoid the chaos of pre-price-increase stockpiling. Discover why preventing "bridge buying" is crucial for maintaining profitability and keeping your sales cycle smooth.

Synchronizing Price Increases Across Suppliers – In today’s world, managing multiple suppliers and thousands of SKUs can be tricky. We’ll explain why consolidating your price increases into a single action can save you time and headaches.

Maintaining Customer Relationships – Nobody likes to be the bearer of bad news, but price increases don’t have to damage your customer relationships. We’ll give you actionable tips on how to communicate effectively, build trust, and help retailers navigate price hikes with ease.

This episode is packed with actionable insights on how to tackle price increases through a profitability lens. Whether you’re a sales rep, manager, or distributor, these strategies will help you turn a challenging situation into a win-win for your business and your customers.

Key Takeaways:

The impact of limiting bridge buying on long-term profitability

Best practices for synchronizing price increases across multiple suppliers

Tips for strengthening retailer relationships during price hikes

How to use data-driven strategies to guide retailers through pricing changes

Don’t Miss:

Mikey’s take on why price increases can actually be a golden opportunity for sales reps

Bud’s breakdown of the hidden costs and benefits behind bridge buying

Tactical ways to leverage price increases to grow GP and support your sales team

Tune in now and make sure you’re prepared for the next price increase season!

Listen now on:

Spotify