Should I publish my prices on my website?
Many of my customers run small beauty or complementary health clinics. They are often asking me for advice on whether or not to publish their prices. I am in 2 minds and wondered whether some of you could share your experience.
I think it depends on the market.
Make sure that the businesses first and foremost promote their value proposition first, including their "differention." If this is done correctly, their prices (if you decide to display them) will have less mindshare in decision making.
N.B.: Be very cautious of price displays intened to gain marketshare. This is a slippery slope for the business and for they industry in general.
If your pricing generally is high enough to be an immediate turnoff - don't show it on your site. The technique in those situations is to get someone interested enough to give you a call so that you can talk all about your product or service (thereby helping a prospect understand the true value, that they may not understand fully until they speak with someone) before hitting them with the price. With the context of the sales call, the price can make much more sense. Chimney sweeping and repairs are a perfect example. If you just saw a price on the site for some of the more advanced repairs you would go somewhere else because you have no idea why it should cost that much. After speaking with our friends at Master Chimney Sweepers for 10 or 15 minutes going over what is involved, you get it.
If you sell a commodity service and people are just looking for the lowest price (because they perceive no differentiation between providers), you may not want to show prices (unless you have a sustainable competitive advantage that enables you to truly offer the lowest price).
If your pricing is not going to be a shock and you are not a commodity service where people are just looking for the lowest price, then displaying pricing decreases friction in the buying process.
I am with Karen, I do not sell on price so I do not lead with them.
This very much depends on the service offered. Product mostly yes. Services are much more complex in selling and pricing, and also easy to adjust along a spectrum of the level of service. For instance as an Executive Coach I have programs anywhere from $600/month to $12,000 per month for being a virtual Executive, interim CEO/COO etc. Clients rarely know what they need exactly and selling requires discovery of the root cause - so in this situation pricing is confusing, misleading and likely not helpful.
However, is is good to bound the lower limit to avoid the people with no budget and unrealistic expectations. I see people asking for full business plans on freelance bidding sites with a budget of $250-$500. They are clueless and essenatially failing before they start by attracting only incompetent people. Quality people will never never work for $5/hour. Their budget and expectations are literally off by a factor of ten! Don't waste your time with these people as they are horrible customers. Hence put some starting price or minimum.
If they are using online shopping carts - which they should definitely use if they are selling products online, the prices are going to need to be listed not only to set up the cart, but to allow customers to go through it to make online purchases. If they aren't, no. The shopping cart is the difference maker.
I firmly believe in showing your prices lists and about knowing your worth and explaining to potential clients why they should use your rather than a competitor. I prefer to market my value and why they should use my services rather than marketing my price. For me Its about building the brand identity.