…or are they ego driven?
Do your customers really care that your are developing a new product or service? Do they want or need it? Have you asked them? Improving a service you already have, or indeed the products you already have may mean far more to the customer and help keep that retention rate up!
The ever-unpopular concept of increasing the price of your products/services is a very major concern for businesses at the moment but rather than pre-empting the response, perhaps work out whether it could be the right course of action for both you and the customer? If your customer will ultimately be negatively impacted by you not increasing prices, what is the sense in not? Better to sustain your business and provide continuous solutions and services than go bust and let your customers down completely.
Maybe you should ask them?
They will understand if you are transparent about the situation, and you may even get some good insights!!
There will undoubtably be some hard choices to make and we are certainly not trying to oversimplify the gargantuan task that every business is facing at the moment. This is not a good time for the economy, but when it comes to futureproofing your business, all of these aspects must be at the forefront of your thinking going forward!
For more information how we can help, get in contact!