Three easy ways to lose customers during a recession


1. Raise prices.

2. Raise prices and tell customers they’re getting a better value (when they’re not).

3. Raise prices, tell customers they’re getting a better value, and try to twist the truth when they call you on it.

Come to think of it, this type of behavior is always a bad idea, no matter what the economy is doing. Yet a surprising number of companies act this way. It’s one thing to raise prices a little bit to keep pace with inflation. But hitting customers with big increases is going to make you a lot of enemies, while making it easier and cheaper for your competitors to grow their businesses using the clients you threw away.