Many business owners grapple with whether or not they should post the prices of their products and services on their websites. Other than retail sites such as hotels, rental car places, major department stores and so forth, others lean more towards not posting prices on their websites at all. B2B businesses with careers in areas such as accounting and tax preparation, business consulting, legal services, and so forth tend to shy away from posting prices for their services online.
Why is this a concern for many business owners? Especially since buyers are trained to make price part of their decision-making process. After reading through material online and pretty much being sold on what’s being offered, many consumers would prefer to know the price before moving forward.
Why Many Business Owners Shy Away from Showing Price
Many business owners shy away from putting prices on their websites for various reasons. For example, some believe that:
- It may not be common for their industry.
- Their prices may be exposed to their competitors.
- They offer customized prices based on customized products and services.
Of course, other business owners believe that it is difficult to know what the price will be without first speaking with the customer one-on-one, identifying their needs and negotiated the terms and pricing afterward.
Why Business Owners Should Include Price
Screenshot courtesy of Coolster
Business owners should include prices on their websites because many buyers are trained to make price part of their decision-making process anyway. If prices are not listed on a business’ website, the consumer may do one of three things:
- They will likely continue their online search until they find a company that lists their prices.
- They may not view your company as competitive compared to other companies in your industry.
- They may not consider your company for business at all.
Why YOU Should Show Pricing
Screenshot courtesy of Lava Car Rental
Not only does not having pricing on your website interfere with your opportunity to acquire additional customers, but you also eliminate the opportunity to get involved with helping customers make the right purchasing decision. This also builds trust, rapport, and branding. Listing prices is especially important when selling a product. Consumers like to compare prices, and they will appreciate your transparency as they go about shopping around.
Another benefit of adding prices to your website is the opportunity to take advantage of search engine optimization. This can be done when potential customers are seeking out prices using specific keywords. These keywords are specific words or terms frequently used in your industry.
Strategies for Pricing Effectively
Screenshot courtesy of Grasshopper
One of the strategies that you can use to accomplish this is to create content that allows customers to understand why there’s a difference in various price points in the first place. For example, you can tie the quality of your product or service with higher prices. You can also share the results of them as well. This strategy will also help clients understand the value of premium services and the prices that go along with them. So basically you can justify your prices by discussing the value that your product or service provides, while also providing consumers with the information they need to make the right decision.
When developing content, placing emphasis on the value of what you offer will also allow potential customers to better understand the need of what you offer.
What if Your Price Seems Too High?
Screenshot courtesy of Family Braces
If you’re concerned that your prices seem too high to potential customers, there’s more that you can do to take things a step further. You can mention other price points in the industry, placing emphasis on what’s included with your products or services versus your competitors. You can point out your features, benefits, the delivery of your products or services, the support that is offered, refund and return policies, and so forth. According to Podium, it would be best to use customer experiences and feedback rather than just banking on general statements. This means you can justify your business’s prices by focusing on why they’re worth it according to past clients. Make statements that customers haven’t heard dozens of times before.
Basically, you can show consumers why your product or service is better by tying it to all that you have to offer for the price that you charge.
You can also provide before and after examples. This speaks volumes in the eyes of consumers who are in the decision-making process. You can simply list what’s included with your products or services compared to those offered at higher price points and the results. This approach and strategy can justify your prices for you.
To conclude, you may consider other strategies such as giveaways, discounts or free offers that consumers can take advantage of and increase their overall user experience. These strategies will get potential customers in the door. It is a great way to acquire and capitalize on making them lifelong customers. This is also an excellent inbound marketing strategy that has worked well for many businesses in the past and can work well for you too.