At John P Burke we know rising costs have become a reality for almost every business. From raw materials and energy to wages and logistics, inflation puts pressure on profit margins and leaves owners facing a difficult question: how to adjust prices without driving customers away. The key is to strike a balance between protecting your business and maintaining trust with your clients.

Understand your cost base
Before you can make informed decisions on pricing, you need to understand exactly where your costs are increasing. Review supplier invoices, energy bills, and payroll figures. Identify which costs are temporary spikes and which are likely to remain elevated. This analysis will help you set rates that reflect long-term sustainability rather than reacting to short-term fluctuations.

Be transparent with customers
Clients understand that inflation affects everyone. What matters most is how you communicate. Explain the reasons behind price changes in a clear and professional way. Highlight the value you provide and, where possible, show what steps you are taking to manage costs internally before passing them on. Transparency helps to preserve loyalty even when rates rise.

Review your pricing model
Inflation is an opportunity to look at how you charge for your services. Do you rely heavily on fixed fees that are vulnerable to rising costs, or do you have flexible models that can absorb change? Consider options such as tiered pricing, service bundles, or value-based pricing that better reflect the outcomes you deliver.

Add value where possible
Customers are more accepting of higher prices when they see added value. This does not always mean giving away more for free. It can be as simple as improving customer service, speeding up delivery, or offering helpful resources. Small improvements reinforce the perception that your business is worth the investment.

Monitor and adapt
Pricing is not a one-off decision. Track customer reactions, monitor competitor behaviour, and stay alert to further changes in your cost structure. If you lose business after a price adjustment, analyse whether it was due to the increase itself or a failure to communicate effectively.

Checklist for updating rates

• Analyse your true cost increases
• Communicate openly with customers
• Reassess your pricing model
• Add value to strengthen loyalty
• Monitor results and adapt quickly

By approaching pricing strategically, you can navigate inflation with confidence. Customers may not welcome higher rates, but if they continue to see value and clarity, they are far more likely to remain loyal to your business.

If you would like to discuss your business needs. Call John P. Burke & Co on (01)6217410 or email info@johnpburke.ie

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