Episode 114 – How to Raise Your Prices
Posted On: Dec 20, 2019
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YOU WILL LEARN
- How to raise your prices
- Pricing strategies
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Episode 114 – How to Raise Your Prices
This podcast is brought to you by ColDesi
In Episode 114 of the CAS Podcast, we tackle one of the most difficult—but necessary—challenges for small business owners: raising your prices. For many custom apparel professionals, pricing isn’t just about numbers—it’s emotional. It’s tied to your self-worth, your comfort with money, and even the fear of losing customers.
But here’s the truth: your pricing directly impacts your profitability, sustainability, and long-term success. In this episode, Mark and Marc help you break through the emotional roadblocks and provide clear strategies to test, adjust, and increase prices confidently.
Why Pricing Feels So Personal
Pricing decisions can stir up a range of emotions:
● Guilt for charging “too much”
● Fear of customer pushback
● Pride that prevents needed changes
● Discomfort with making more money
Mark revisits the powerful story of the $8 DFX shirt—a cautionary tale that highlights just how dangerous underpricing can be. But pricing too high without a strategy can also backfire. The key is to test, not guess.
Price Testing Strategies
Take the emotion out and let the market guide your decisions:
1. The “Tipping Point” Method
Raise prices slowly and track when customers start to drop off. This helps you find the highest sustainable price point.
2. New Product Change Tactic
Introduce higher pricing on new products or blanks while keeping older products at current prices. This creates a gradual shift without alarming customers.
3. Discount Testing on Your Website
Run promotions or discounts selectively to track how price changes affect sales and behavior.
4. Show Different Prices to Different Users
A/B test different price points with segmented audiences and measure performance.
5. Offer Multiple Versions at Varying Prices
Create standard, premium, and deluxe packages to compare which your customers gravitate toward.
6. Use Direct Sales Channels for Price Testing
Send different prices to segments of your email list or use phone outreach to compare conversion rates.
Smart Strategies to Raise Prices Without Losing Sales
Adjust Volume Discount Thresholds
If your first discount kicks in at 12 shirts, move it to 15. Push higher minimums for better margins.
Add Low-Cost, High-Value Extras
Bundle in perceived value:
● Wash instructions
● Bagging individual shirts
● Optional size exchange discounts
Raise Fees Where Appropriate
Increase setup fees modestly—just enough to boost your bottom line without losing customers.
Boost Pricing on High-Perceived-Value Items
For glitter prints or full-color digital transfers, raise prices significantly—even if your cost isn’t much higher. Customers perceive these as premium.
Use Timed Increases
Instead of a sudden 20% hike, roll it out gradually. Start with a 5% increase and plan future bumps in intervals.
Charge for Delivery Speed Options
Instead of just a “rush fee,” offer tiered turnaround times:
● Free for 14 days
● $20 for 7-day priority
● $80 for 3-day rush
Final Takeaway
Raising your prices doesn’t have to be scary—or guesswork. When you approach pricing like a business decision (not a personal one), you open the door to higher profits, better service, and a more sustainable operation. This episode gives you the tools to do it smartly, strategically, and successfully.
About ColDesi
ColDesi is a leading provider of custom apparel and digital printing solutions, empowering businesses with innovative equipment and unmatched support.
With decades of industry experience, ColDesi offers a full range of professional-grade solutions, along with comprehensive training and customer service.
Their mission is to help entrepreneurs and established brands grow through cutting-edge technology and expert guidance.
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