Do you display your prices on your website?
If there is one question that comes up time and time again with clients who want their website reviewed, it’s this: “Do I display my prices?”
My answer time and time again is YES! Of course! Why wouldn’t you?
“Oh, because I don’t want my competitors knowing what I charge.”
“I don’t want to put people off from contacting me.”
“I want to be flexible so I can charge more if I feel I can get away with it.”
Rubbish. Rubbish. Rubbish. And here are my reasons why:
Perception of being too expensive. I was checking out a new webinar system earlier this week and no matter how hard I tried, I just couldn’t find the page called “Prices” or “Packages”. All I could do was to either sign up for a free 30 day trial or fill in a form for someone to contact me.
I know they wanted my contact details first. They wanted to pull me in to their marketing system so they could follow up and wear me down until I decided to buy. But I wanted to know whether the product was within my budget.
By not having the price on their website easily accessible, my only thoughts were “bet they are too expensive!” (Note: this is a good strategy to take for luxury, top end products if you do actually want to create the image of being expensive in your marketing.)
Wasted time on enquiries. If you want people to contact you for a price, you have to have the systems and spend the time to respond to these enquires. Coaches, you are the worst at this! You offer a free consultation – up to an hour of your time – only for the potential client to say “thanks, but I’ll have to go away and think about it”. Translated: “Thanks but it’s more than I thought. I can’t afford your services but I don’t want to say this to you directly”
My conversion rate when I first started out went from 30% to 60% as soon as I put my prices on my website. If the prices put people off before contacting me, great. It saved me that consultation hour and I was able to get on with other stuff that did make me money.
If you have created the right product/service to provide a solution for your client’s problems, be confident about your pricing. If you are not overcharging or under selling yourself, charging the “right” price is a good business decision! It’s nothing to be ashamed of ;o)
Makes the sale easier. If someone knows what you charge before they start talking to you, the whole sales process becomes so much smoother. There is no need for you to stumble over the question “What do you charge?” They already know, so you don’t need to feel embarrassed or awkward discussing it. (We really don’t like talking money, do we?!)
If you do a lot of bespoke work and have to quote per client, then make sure you publicize a starter package, for example. Or quote a price range, highlighting what they would get for that package.
Stuff the competition. So what if your competitors know your price. If you don’t put it on your website, I am pretty sure – if they really wanted to – they would find a way of getting your price lists. You don’t have time to be getting in to petty price wars with other businesses.
So be bold. Be brave. Clearly state your prices or packages so your potential clients know exactly what they are in for, so that when you get to speak to them or they click the order button, they are ready to make the decision to buy.
Photo credit goes to: Unhindered by talent