Following is a compilation of ideas expressed by CEB members on this issue

1. Ask
   Because many companies believe they cannot get a price increase, they don’t ask for an increase. There is not one documented case where a company got an increase without asking.  If you are hesitant to ask, test a price increase on a small portion of your customers.
   
   
2. Institute small increases on a periodic basis
   At least annually, make certain you institute small price increases. The increases should be small enough that it is not worth the effort for your customers to look for another supplier.
   
   If you do not get small periodic increases and wait until you have to raise prices, the required price increase may be very noticeable to your customers.
   
   
3. Proactively move into markets where prices and margins are traditionally higher
   For example, selling to automotive and large retail chains is not a good strategy.
   
   
4. Create an “ideal customer” profile and pursue those companies that fit the profile
   Make a “Top 10” list of potential customers who fit the profile and put much of your marketing and sales effort toward developing them as customers.
   
   
5. Raise prices on your high maintenance customers
   Some companies cost more to service. Have them pay the additional cost.
   
   
6. Fire certain customers
   Some customers demand too much, cause grief for your staff and are not worth the effort at any price. Fire them.
   
   
7. Develop higher quality products and/or services
   Position yourself at the high end where prices and margins are higher.
   
   
8. Un-bundle services
   Break out the key components of your services and charge for them separately. A good example is banking services.
   
   
9. Bundle products and services
   To avoid comparison shopping on products, bundle your products and services together.
   
   
10. Add additional features and services
    It is important to increase prices at the time the features are added.
    
    
11. Pass on increases in your costs to the customer when possible
    This is done frequently by contract when raw materials costs are a large part of the cost of the product
    
    
12. Continuously monitor the prices of your competitors
    Don’t get left behind.
    
    
13. Differentiate your products and/or services
    Make it impossible for your customers to compare your price with other competitors.
    
    
14. Provide the customer with an extensive and detailed list of the services you provide for the price you charge
    The more services provided, the higher the perceived value.
    
    
15. Create niche markets
    By creating niche markets, you eliminate many potential competitors and can demand a higher price.
    
    
16. Add handling fees and shipping costs
    Pass on additional costs to the customer.
    
    
17. Make it convenient for your customer to buy your products or services
    Make it easy for your customer to pay, order, etc.
    
    
18. Offer to do the whole project
    Be a one-stop shop.
    
    
19. Offer multi-year contracts
    Raise the price on short-term contract and give discounts for longer term contracts.
    
    
20. Increase price on “non-shopped” items
    Be competitive on “shopped” items. Many large retailers are good at this.
    
    
21. Offer “good”, “better” and “best” products and/or services
    Give the customer a choice as to what he pays.
    
    
22. Go where your competitors are not
    Enterprise Car Rental did not rent cars at airports and Wal-Mart started in small county seats.
    
    
23. Sell products and services your competitors don’t want to bother with
    In the insurance industry, there is no such thing as a bad risk - there are only bad premiums.
    
    
24. Develop partnerships and relationships with your customers
    Share in the costs and profits.
    
    
25. Justify price increases
    Explain to your customers why you need a price increase.
    
    
26. Provide upgrades and enhancements
    Get a price increase at the time the upgrades and enhancements are introduced.
    
    
27. When you have to turn away work, for any reason, raise your prices
    If you are turning away work, you are not charging enough.
    
    
28. If you are not getting complaints about your prices, raise them
    McDonalds wants a price point at which 40% of the customers show some resistance.
    
    
29. Make certain your sales people know how to get top prices
    Evaluate your sales staff to make certain they have the knowledge and will to get the top price.
    
    
30. Save your customer’s money
    Document the savings to the customer and justify a price increase.
    
    
31. Outsource products and services when you are not competitive
    Other companies may be able to do it better and cheaper.
    
    
32. Never say “no”
    Do it, and charge for it.
    
    
33. Offer various levels of service
    Let the customer choose what he or she wants to pay.
    
    
34. Control the customers’ expectations
    Control the customers’ expectations so you can deliver more than expected or charge less than expected.