Now that consumers are more comfortable with ordering all of their supplies online, wouldn’t it be smart for all businesses to list the prices for their services on their website?
Got To Build Trust
This question about listing your prices online has been asked a number of times. Seems most people who are in highly competitive markets feel listing their prices would give away to their competitors their competitive advantage. This could be true.
However, now that more consumers have learned the conveniences of ordering online and more businesses have learned to market online, consumers are more demanding of what they expect from a business’ website.
Things Have Changed
Today, consumers would rather see the prices of a product/services on a business’ website than pick up the phone only to find out they could not afford the service or product.
Nothing is more frustrating to a consumer than getting a salesperson with a ‘Type A’ personality, telling them they can’t afford them and then berating them for calling. Consumers would rather move on to a website for businesses that at least tell them what they are about to get it.
I say list the prices. If nothing else lists a range of prices a service could.
Anything that would help the consumer know what they are about to get into before they get into it.
If You Don’t
Consumers are now very demanding of their time. Business owners are as well. Consumers do not want to spend all of their time looking for a product or service only to find out they cannot afford it.
Yes, consumers could be passing up the best deals on pricing they could get, but they are not going to take the chance of finding out if someone else has provided them the information they needed on their website.
Listing the price for a product and service makes sense..so why are more businesses doing it.?
Back in the Old Days
Back in 2013 the reason for not listing pricing was based on…
Companies rationalize reasons for not revealing prices online: we don’t want our competitors to know, price varies for different customers, price constantly fluctuates, customized services have unique prices, and so on. … Not showing pricing works against customer needs and thus creates a hostile shopping experience. Nielsen Norman Group
Some believe it is downright stupid to show your prices.
They believe if you show a price before you’ve had a chance to demonstrate the value of what you’re offering, their consumer will look at the price, get sticker shock, and never come back.
Or, consumers will see the price, then just look for someone else whose price is lower, and then choose the lower-priced option not giving the higher-priced business the chance to demonstrate why they are better than their lower-priced competitors.
People in this camp believe you will lose way more clients than you will ever gain from the strategy of showing your prices.
In the Pandemic Driven World of Today, the word is…
Most people do research on price before they consider buying a product or service. If you‘re the only person in your industry talking about prices on your website – you‘ll get more traffic to your site than your competitors, which should mean more leads and sales. Janet Murray
Pricing transparency immediately weeds out bargain shoppers, which are the consumers your business is not interested in working with.
If you want a healthy, profitable service business, you must have a decent margin on your services provided, and that will never be in line with a customer whose only concern is the price point (which is a short-sighted way to make business decisions).
Today businesses cannot waste their time trying to woo someone who is never going to spend the money needed to sustain a healthy business, and listing pricing for services will weed these people out.
Gotta Work Smarter
We are going to start listing on our new SyncLab Media website a range of pricing for our services. We hope to show our consumers what it takes to market their brand using video marketing and hope our listing our pricing will educate them on the price for our industry’s products and services.
It is the least we can do to help business people get ready for the many changes in their budgeting they will have to make to get through all of their future challenges.
Let me know how I can help.
