When advocates tout the benefits of great customer experience they typically talk about retention and loyalty. You know what they almost never mention? Pricing power. This is a terrible oversight because: 

a) Pricing has a tremendous effect on profitability - even tiny changes can have a massive impact. 

b) A reputation for exceptional customer experience often allows you to charge more.

With this in mind, if you have a great CX but haven’t priced it in, consider experimenting with some price increases - you might be in for a pleasant surprise. Here’s a fun story to illustrate the point:

A friend of mine (looking very happy in the pic with her husband) runs a small business in Silicon Valley, with a hard-earned reputation for exceptional customer experience. 

Late last year she asked me for some advice about growing the business, and agreed (with some hesitation) to an immediate 30% price increase.

So far her business has made three quarters of last year's total profit in the first three months of this year and demand is actually increasing. 

Why? Price signals quality. At the higher price point she’s distanced herself more clearly from mainstream rivals becoming an easier choice for her well-heeled target customers.

Downside - she owes me a decent bottle of Scotch.

See this post on LinkedIn