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5 reasons why you should put your prices on your website
I've worked on Internet strategy for several hundred businesses ranging from sole traders to International corporates and one thing that always comes up is whether they should put prices on their website. I understand why they're thinking that way. They have concerns such as:- "My competitors will be able to see my prices and undercut me."
- "My prices may deter possible customers."
- "The price is different for each customer."
Now let's rethink these concerns but from the perspective of how people use the Internet.
"My competitors will be able to see my prices and undercut me."
Any decent competitor will know your pricing so that shouldn't be your reason for not posting your prices. If you're the type of business that gets sales based on price such as a computer retailer then the bad news is your competitors are already online and have their prices listed. Here's the most important bit though, your prospective customers want to see your prices. If you don't have your price listed then the customer might be apprehensive to contact you. It's likely that your losing many possible clients because you haven't listed your price.
"My prices may deter possible customers."
"Sticker Shock" has to be managed carefully. Most businesses, whether they know it or not, don't sell based on price but on value. Your customer isn't just looking for a good price, they're looking for values that are important to them such as guarantees, ongoing friendly service and affirmations that they are making the right decision to buy from you. Putting your prices on your website and explaining the benefits of your product or service helps customers decide to choose you.
"The price is different for each customer."
This is true for many service industries but if you can give an indication of price then you're differentiating yourself from your competitors that aren't giving a price. For example, you could put up a price range and then have case studies showing what was done for each of the contracts. Better still, if your case studies are just one page then it is easy for a staff member or partner to print out and show the boss who may be the person who makes the final purchasing decision.
Convinced?
As shown above there are multiple benefits of putting you price on your website such as:
- Builds trust with prospective clients because you're being transparent.
- Gives prospects more information allowing them to make an informed purchasing decision to buy or use your service.
- Differentiates you from your competitors that aren't posting their prices making it more likely for prospects to contact you.
- Saves you time because it stops prospects contacting you that may not want to pay a higher price for value.
- Forces your competition to react to your pricing and value propositions which make you the market leader.
Spinning Planet has always put our prices on our website. Even though we're in the higher price bracket for websites and Internet strategy because we don't compromise on quality or service our business continues to grow each year while our competitors still refuse to put their pricing on their websites.
Anyhow, that's what I'm thinking about this week. If you'd like to be notified of our latest research FOLLOW our LinkedIn page. The link is at the bottom right of this page. If you'd like to learn more about how you can improve your online marketing and sales check out our Internet Marketing workshop here.
brynn :-)
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