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.
It all depend on the business policy, constant updates and strategies. For some industries and businesses is counterproductive doing it. Few others, however immensely benefit when presenting 'no hidden cost' as a critical feature on their marketing. Clients need to feel well served - and planning for prices strategies is a good way to do it. There are situations in where businesses try to approach a broad and kind of segmented sectors that is hard to define prices for them publicly - in that case, you better don't show them.
I would publish prices in this industry as most potential clients will not make the extra effort to call or email and wait for a response.
What Jukka is saying about value add packages with specific product is very valid. This makes your pricing safe so to speak.
Also create an opportunity for visitor to the website to join a mailing list. Here you will have the great opportunity to communicate specials and new packages or other offerings to them.
You can find anything online. From stalking former high school friends to ordering your groceries, we have grown accustomed to accomplishing any task we want on the Internet. With millions of search queries right at our fingertips, we expect to find the information we need in seconds. And, when that information isn’t available, we move on to something else.
Case in point: restaurants. I bet that you are more likely to go to a restaurant with 50 Yelp reviews than a restaurant with zero reviews. In the absence of information, we grow suspicious. When information just can’t be found, we immediately start having doubts.
I believe this same thought process proves that agencies should publish their prices online. Consumers are used to seeing pricing information and expect this level of transparency. When your prices aren’t listed, potential clients will get scared. They’ll move to another website because they’ll think you’re too expensive. Or, they’ll think something is “wrong.”
Still don’t buy it? Here are three more reasons you should publish your prices online:
1. People are more likely to buy if they know they can afford it
Potential clients want to know what they’re going to pay before they can even think about purchasing a service. If they even have the slightest assumption that you’re too expensive, they won’t go through the effort of contacting you or filling out a form. Eliminate the potential for false assumptions and set expectations by being transparent with your pricing. This way, you’ll know the people who are contacting you are serious about your services.
2. Higher price = higher quality
We subconsciously associate a higher price with higher quality. If you’re communicating with two graphic designers, and one charges significantly less than the other, you’ll start having doubts about her skills and will assume her quality of work isn’t as high as the more expensive designer. This is why pricing is so important in building your credibility and reputation. When you publish your prices and explain the concrete reasons why your client should pay more than competitor X, you’re subconsciously conveying your value.
3. The opportunity to own the pricing conversation
Many people are worried about publishing their pricing for everyone, including competitors, to see. They think that listing prices tells your competitors how to “undercut” you, and gives them a look at your cost structure. Well, your competitors can easily find out your prices even if they’re not listed online. And this fear is actually a good thing! Take advantage of it and be the first one in your industry or in your city to publish your prices. You have the chance to own the pricing conversation and clearly explain why you’re charging what you’re charging. And, as an added bonus, there’s a huge SEO opportunity in publishing your prices. Because no one else wants to put prices on their site, you can easily rank for “copywriting prices” or “graphic design prices.”
You can publish your prices in a couple different ways. You could bundle your services in a package, and publish the cost of the package or packages. For example, you could have “Graphic Design Package A for $X, ” “Graphic Design Package B for $X, ” and “Deluxe Graphic Design Package for $X,” pricing each package according to deliverables.
If your prices change from project to project, you can just say, “Prices start at $X. Contact us for an exact quote.” Even if you can’t provide a specific price, you’re giving potential clients an idea of your pricing structure. You’re being transparent about your services from the get-go — that’s the most important thing. And what better way to build great relationships with clients than to lay it all on the table from day one?
Note: This originally appeared on my agency's website: http://www.nevermindmarketing.com/why-you-should-publish-your-prices-online/
I believe publishing a basic or starting price on your website that also includes precisely what the customer will get works best. The starting price should also be accompanied by text and/or graphics to inform visitors of your USP.
Customer trust is paramount and this approach shows transparency. Once you have a starting price you can add on extra services or products at a later stage if the customer so requires. The extras can be advertised on the same web page, as they should appeal to the same market. You should also consider offering bundles or package deals.
Price is relevant to the majority of consumers. Having a competitive starting price will inform the consumers that can afford your goods. The starting price will also save you time and effort dealing with the consumers that cannot.
I am a firm believer in transparency. I find it incredibly annoying when I'm on a website, find a product or service interesting but can't find a price unless I create an account and add it to my cart or I have to sign up for an email. I don't stay on these websites.
I've surveyed my clients (I'm a virtual assistant) and they ALL have said they appreciate that my terms (I offer different levels/packages) are listed clearly on my website - http://www.thecrowadvantage.com/the-bottom-line.html. My prices might scare some away but I'm not looking for clients who are searching for the cheapest assistant - I help my ideal clients realize the value that I bring to them and in turn, they are willing to pay me for it.
This can be a difficult option, so here is my advice.
If you want to stop wasting time on potential clients and discovery calls that always end in "I can't afford it", then publish your prices. This acts as a gateway for only qualified leads to come through, so that you won't have to worry about haggling.
If your offer is high end ($10K), and you don't want to publish it, create an application or other judge of potential lead, so that you have time to demonstrate the value of what you're going to be offering, and ask pre-qualifying questions like what their budget is, and how much they are willing to invest.
I always appreciate it when others post their fees, so I believe in doing it as well.
Two main reasons I have heard people give as to why they don't want to post theirs:
1. Can't quote a rate because every client is different.
One way I like to address this is to consider a tiered level of service packages. (i.e. Bronze, Silver, Gold). That gives you more flexibility and you show what is included in each package and the potential client can choose the option they want (Who doesn't love having options?) You can also tack on "Customized packages and a la carte services available" so you have some wiggle room to add and delete as needed, but at least customers have an idea of the range of fees they can expect.
3. Don't want to drive them away based on price.
As others have stated, you could be driving customers away simply by not listing your price. I know there have been many times I have wished a website listed their prices...I've never wished that they hadn't. If my prices are going to scare them off, better to have that happen up front before I've invested any time or energy.
I think listing your price shows confidence in your capabilities and sends the message "Here's what I charge to help people like you, and I'm worth it."
Wendy Lees | Copywriter
There've been a lot of great answers here already, but I'm going to cave and put my two cents in as well. This issue is always debated amongst we professional independent communicators and freelance editors. I don't compete on price. I'm a senior communicator with over a quarter-century experience. On my website -- specifically a page about how much I'm worth/it costs for my services, I make it clear that "You're not just paying for our time; you're paying for our experience and expertise. That's why we don't compete on price." All this said, I did decide to post a downloadable PDF of my pricing guide. Doing so shows people what I'm worth, and also helps weed out people who always think price first and expect that a professional communicator will write a blog post or a product/news release for $25 or $50. I look at it as managing peoples' expectations.
Generally prices are not displayed on websites- you may consider publishing it on promotional material though!
Anne, if publishing they need a checkout facility or at the very least a data capture/ring me back service. If eyes are on the site they need to force the fingers to do some tapping - ideally with card details to buy. Anne I think you might have an opportunity for some referral commission with NetPay via your clients. Let's talk.
I have found if you publish prices that are fairly static (a haircut, massage, etc) and provide pricing for some of the packages offered with the verbiage that any package can be created at variable pricing, people will call if interested. One thing that is very important here is that your clients are competitively priced in the marketplace. If the regular services are priced higher than competitors for basic things, like a haircut or a massage, then people will move on without making inquiries. So if it were me, I would check what the competitors are charging before making a decision about publishing prices. If your clients are charging more, and there's a reason for that like they are looking to attract only high-end clientele, then publishing the prices won't matter.
NO WAY. this stops anyone from contacting you. Why publish your prices when potential clients don't know what the prices entail?
Do you go into minute detail about what your prices are?
If you are selling dresses or products YES - as people need to know the price to buy there and then BUT for services NO WAY, NEVER.
Give people the opportunity to call you, to speak to YOU, people buy from people.
One price for a branding job, might cover 10 hours work, would you give the same price for 30 hours work?
Purely from a retail perspective, you should detail prices on your website, as much as is possible in your business.
I always keep looking at a business website if I can find prices !
If you are selling something online, it needs a price.
If you're offering a service in an office, I wouldn't include one.
As soon as you advertise a price on your services it makes you a commodity.
It doesn't matter what you say -- you're price-ranked.
Your job is to make people want to come to you for the quality of your service -- unless you want to be the cheapest!
Make them want to work with you -- and they'll be willing to pay what you charge.
why not! publish prices on website,...but at the same time at any place of web use explanations or in Q/A or comments box give the answers of people confusions,...
For hospitality, just like booking air tickets, I'm sure I'm not alone in needing to see the prices. But sometimes, as you suggest, there are benefits to being discreet. You can do both nowadays, by using Groupon - an early bird coupon system.
I have two parts to my business. One is product based and I have all the pricing on the internet. Virtually none of my competitors do however. I would not have it any other way. When customers contact us there are no surprises. My prices are good but not the lowest. I also have more product info than most of my competitors. Basically when someone calls us we close a very high percentage of sales. My other part of my business is more of a service business and I have no prices on my web site. This part of my business is basically using the machines we make so it is a service business. There are too many factors that go into the pricing to really publish prices but if I could I would love to. I waste a lot of time doing estimates for people who think the price is too high although most are happy with the price.
"Price" is one way of differentiating; in the 9P's of Marketing it is one of hundreds of factors under the nine parts and components.
What about product details? Product benefits? Are you willing to negotiate? Deliver? Shipping? Offer better service? Product bundling? Quantity discounts? It's about value and not always price. Look at http://nineps.com as one additional source. There is plenty out there to help. Good luck.
Publishing prices can be a two edge sword. If you do and your customers have no sense of the value they receive, it could cause people to go elsewhere. If you don't, they may think there's a reason why not.
Check out your competitors to see how others are handling this and how they serve it up. With product sales, its more of a necessity. Services are different.
Yes show prices, and don't waste any effort justifying them. You are providing something of value.