Best way to communicate a price drop?

[Fire In Your Face]

Hi everyone! The bulk of my income comes from fire manipulation workshops (fire eating, etc) and for our first 3 years, we were priced at £149 per person and had never had a single workshop that wasn't a sell out. I was living abroad which limited the amount of workshops I could do in the UK. Without being able to do more, the obvious thing to do was to increase the price to match demand. Unfortunately, a small rise to £199 per person saw a drastic drop in sales (about half). I'm now in a position where I can do more workshops and it makes a lot more sense to move back to the old pricing structure, and pull in extra revenue with upsells during/after the workshop.

So the question is, how do I communicate to my customers that the price has gone down, without them perceiving it as less value? I don't necessarily think that people care about the reason, just the price. I have some ideas, but I'd like to get your take on what you think would work, or even better, what you've found to be most effective? What I'm looking to avoid is people seeing my ads and instantly writing them off as unaffordable due to them seeing the price previously. This will happen organically with time as there's a fairly high churn with what we do, but I'd like a more immediate solution regardless.

Typically, most of our marketing is done with Facebook ads, but we also have a decent sized following of people waiting for our next tour through Instagram/Facebook.

Thanks!

 

[NickGrogan]

Hi everyone! The bulk of my income comes from fire manipulation workshops (fire eating, etc) and for our first 3 years, we were priced at £149 per person and had never had a single workshop that wasn't a sell out. I was living abroad which limited the amount of workshops I could do in the UK. Without being able to do more, the obvious thing to do was to increase the price to match demand. Unfortunately, a small rise to £199 per person saw a drastic drop in sales (about half). I'm now in a position where I can do more workshops and it makes a lot more sense to move back to the old pricing structure, and pull in extra revenue with upsells during/after the workshop.

So the question is, how do I communicate to my customers that the price has gone down, without them perceiving it as less value? I don't necessarily think that people care about the reason, just the price. I have some ideas, but I'd like to get your take on what you think would work, or even better, what you've found to be most effective? What I'm looking to avoid is people seeing my ads and instantly writing them off as unaffordable due to them seeing the price previously. This will happen organically with time as there's a fairly high churn with what we do, but I'd like a more immediate solution regardless.

Typically, most of our marketing is done with Facebook ads, but we also have a decent sized following of people waiting for our next tour through Instagram/Facebook.

Thanks!

What is your margin per sale? The extra £50 should be all profit, so even with less sales you may actually be better off.

In answer to your question, focus on the expansion, more workshops and that this has allowed you to drop the price to just...

People like a business that's growing, especially when that growth is benefiting them

 

[WaveJumper]

Maybe put the emphasis on how you have managed to keep the current price whilst costs have been rising rather than having a "fire sale" (sorry about that) as above though people like to see a growing successful business and I am pretty sure you venue costs, insurance etc etc will have gone up anyway

 

[Paul Kelly ICHYB]

You yell them that you have managed costs and can now return the price to what it was!

Or offer them a £50 rebooking/loyalty discount!

 

[Paul FilmMaker]

Maybe put the emphasis on how you have managed to keep the current price whilst costs have been rising rather than having a "fire sale" (sorry about that) as above though people like to see a growing successful business and I am pretty sure you venue costs, insurance etc etc will have gone up anyway

I love the idea of a 'fire sale.' That's brilliant!

 

[cjd]

You assume that new customers actually know the previous price, why would they?

 

[fantheflames]

Hmmm, why not highlight the extra value customers will get with the price drop? You could promote the return to the original price as a special offer because you can now run more workshops. Make sure to mention any new content, improved experiences, or exclusive add-ons to show they’re getting a great deal.

 

[conferenceca]

Hi everyone! The bulk of my income comes from fire manipulation workshops (fire eating, etc) and for our first 3 years, we were priced at £149 per person and had never had a single workshop that wasn't a sell out. I was living abroad which limited the amount of workshops I could do in the UK. Without being able to do more, the obvious thing to do was to increase the price to match demand. Unfortunately, a small rise to £199 per person saw a drastic drop in sales (about half). I'm now in a position where I can do more workshops and it makes a lot more sense to move back to the old pricing structure, and pull in extra revenue with upsells during/after the workshop.

So the question is, how do I communicate to my customers that the price has gone down, without them perceiving it as less value? I don't necessarily think that people care about the reason, just the price. I have some ideas, but I'd like to get your take on what you think would work, or even better, what you've found to be most effective? What I'm looking to avoid is people seeing my ads and instantly writing them off as unaffordable due to them seeing the price previously. This will happen organically with time as there's a fairly high churn with what we do, but I'd like a more immediate solution regardless.

Typically, most of our marketing is done with Facebook ads, but we also have a decent sized following of people waiting for our next tour through Instagram/Facebook.

Thanks!

It's great that you're looking to make your workshops more accessible again. When communicating the price drop, focus on the extra value customers will get. You could say something like, "We're excited to bring back our original pricing of £149! Thanks to increased availability, you can enjoy our workshops at a lower price without sacrificing quality. Plus, we have some new content and exclusive add-ons to make your experience even better." This way, customers see it as a great opportunity rather than a decrease in value.

 

[cjd]

AI generated.