Hey guys, it’s your girl Adrian M White aka Brand with AMW and I’m here today for another weekly Brand & Convert Chat and Chew. This is your chance to take a quick snack or lunch break and learn about all things branding, marketing, and entrepreneurship. Get your notebooks out because I have some juicy content to share.
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Studies have shown that consumers want to see the prices of products and services. But many business owners have reasons why they prefer to not include pricing on their websites. The decision to put your prices on your site is a strategic one for your business. In some ways, it can make you feel vulnerable. And that’s today’s topic, “Should I Show Prices on My Website?”
Here are some reasons why to put prices on your website:
1. Trust. Many customers will not do business with a company that is not forthcoming about pricing and fees. They simply won’t waste their time talking with a sales rep only to find out that the price is too high (or too low, which may feel cheap or low quality to them).
2. Price Range. Customers want to know what they’re going to pay for your service or product, or at least have a ballpark figure.
3. Unaffordability Beliefs. Some customers believe, perhaps incorrectly, that if the price is not shown, then it must be too high. The reason is that if they aren’t shown the price, they probably can’t afford it.
4. Efficiency. People who can’t afford your services or products will not request a prospect sales phone call. Hear me out: do you want to spend time convincing people on the phone that they can afford you when they really think they can’t or don’t see the value you are offering? It’s hard to have phone calls with people who have unrealistic expectations because they don’t know the fees. Trying to convince them is a hard-sell tactic that I choose to avoid.
5. Budgeting. If people feel like they can’t afford you, but want to work with you, they now have a price point from which they can start savings towards working with you. I have had a number of clients who tell me that they saved for three months in order to work with me.
6. Information Gathering. People who are looking for a price range so they can get some budgeting ideas may be a perfect client for you. One of the important stages of your customers’ sales timeline is the Information Gathering phase when they are researching possible solutions. Get to know your prospective customer’s process for making buying decisions and plan your marketing accordingly. This is especially true when marketing to women: they do a lot of research before they buy.
Here are some reasons why not to put prices up:
1. Customized Services or Product. Sometimes you can’t list your prices, because each person gets a customized quote based on what they need from you, like a home builder or a website designer. But you can offer packages with a note that says, “Fees start at…” for each package. Or show them examples of your work and indicate what each of those project fees was.
2. Competition. You’re afraid your competition will find out how much you charge. Bad news: your competition already knows what you charge. It’s easy for them to have a friend pose as a prospective customer and get your entire price list. Or your customers tell others what they paid. You are going to have a tough time keeping your pricing private, especially in the internet age.
3. Rapport. Your service is based on your personality and your rapport with your customers. Therefore, they need to speak with you in order to get the connection and see if it’s a good fit. I agree with this 100%. But if it’s a perfect fit, and they can’t afford you, how does that benefit either of you? Why not put some videos on your website, and offer some free teleclasses or workshops, so they get a chance to experience you before the prospect call is scheduled.
4. Mimics. You are concerned that competitors who are less qualified than you will increase their prices to mimic yours but offer poor service. Let them. You cannot be responsible for what your competitor does. If they charge too much and offer a shoddy product or service, they’ll be out of business soon enough anyway.
5. Uniqueness. You feel that your service or product is not unique, but is exactly the same as what your competitor offers. This is called a commodity. But a commodity implies that what the customer is purchasing is the same, regardless of the vendor (like milk, flour, or gasoline). By being clear on what makes you unique, different, or better than your competitor, you avoid being seen as a commodity. This is called your Unique Selling Proposition. If you don’t have one, get one.
6. Ongoing Marketing. You’re concerned that if someone sees your prices but doesn’t reach out to you, you won’t have any way to connect with them in the long term. This is where having an offer on your website they can sign up for can help you gather a list of people who may be interested in your product or service. Think email newsletter, or whitepaper. However, you need to handle these people differently than you would a bona fide prospect because they’re in the Information Gathering stage of the sales cycle, not the Decision Making phase. Establish your sales and marketing strategy and funnel, and reach out to people based on where they are along the sales path.
7. Price Shopping and Tire Kickers. If they’re shopping on price alone, they’re probably not your ideal client unless you are Wal-Mart. People who shop only based on price will leave you when they find someone cheaper. So if you put your prices on your website, you get them to exit before they waste your time. If a prospective customer is truly *only* shopping on price, then it wouldn’t matter if you tell them the price on the phone or on your website.=
All in all, I’m for having prices on your website, just make sure your quality of service is good and the copywriting that is selling these services on your site is good. If you need help with getting a website designed or having conversion-focused copywriting on your site which leads a prospect to take action, feel free to book a complimentary brand strategy session with me at uniquebrandsthatconvert.com.
Also, don’t forget this week only, enrollment is open for my new program, After the Launch Digital Marketing Bootcamp. Learn more at www.afterthelaunchbootcamp.com.
Comment below with any questions and join me this Friday at 1 PM EST in our private Facebook Community for Friday Lives. This is where you can participate in a live discussion on this week’s topic and Q&A. Don’t forget to follow me on Facebook, Twitter, and Instagram at Brandwithamw for more entrepreneur advice and a look into my everyday life.
Wishing you much success and good juju.