Addressing inflation: How businesses can combat customer worries about price
Between record-high inflation, supply chain issues, and rapid market changes, to say money is top of mind for consumers and business owners would be an understatement.
So, what can businesses do to address their customer’s concerns about pricing without compromising their bottom line? Small business expert Gene Marks joins the show to discuss shrinkflation and other tactics you can use to combat high inflation and protect your profit margin.
In this episode, we cover:
- How shrinkflation works for subscription business models?
- Lessons small and mid-sized businesses can learn from bigger brands during economic uncertainty.
- Best practices for reevaluating your business costs and profit margins before increasing prices for existing customers.