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As the End of the Year Approaches, Plan to Increase Your RMR Your Recurring Monthly Revenue represents both your cash flow and the primary value of your company. What can you do to increase your RMR? A small price increase is often appropriate, especially if you have not increased your rates in several years. The end of the year is the perfect time. If you are really providing the good service that you think you are, your customers will tolerate a small increase. Any cancellations you get will likely be ones that would have happened anyway and they were just looking for an excuse to cancel. If anybody does complain, you can always rescind the increase on an individual basis and become a hero to that customer, a win-win situation for sure. Keep up to date on what your competitors are charging and price your services accordingly. But remember, there is no good reason to have the lowest price unless you also have the lowest quality. Most of your customers are willing to pay a fair price for good service and those are the customers you really want to keep. Consider adding extra-cost services or tiered price structures. If you are providing extra services, make it part of your agreement and add the charge to your RMR. It can pay off in the long run..
The Graybeards team:
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Davis Group 5894 Partridge Lane
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