One of the most important and often controversial decisions in business is whether or not to post pricing information on your website. There are many business owners out there who are willing to do whatever they can to keep pricing information off their websites, however maybe it’s time to change that line of thought.
There are many reasons why business owners may be hesitant to include pricing on their website but why we explain why this is a bad idea, here are the top 4 reasons why prices aren’t shown;
“It’s not done in our industry”
“My competition will see it and undercut me”
“Pricing is custom and changes for each customer”
“My prices could deter customers”
Sound familiar? If you’re worried that including prices will be bad for business then you aren’t alone, however have you considered some of the key reasons why you should include pricing?
Trust
If a business isn’t seen to be forthcoming and honest about their pricing then it can deter customers and many will be less inclined to do business with a company if they don’t show their prices. Not featuring prices could indicate that a company could change their prices to higher than necessary, leaving customers to feel like they’re being taken for a ride, rather than being treated fairly.
Branding
Pricing can actually be a great part of your branding and marketing strategy, whether your business is a ‘low cost leader’ or an ‘high quality expert’ who customers will pay higher for, your pricing can help you establish your place in your industry.
Unaffordable?
There are many people out there who believe that if a price is not shown then it’s likely that they price is too high. Not featuring your prices could mean that potential customers are leaving your website before even enquiring because they believe they can’t afford it straight away.
Customers want prices
Simply put, featuring your prices is going to provide an insight for your customers into how much your products or services are. Showing your prices can help potential customers identify a price range or at least get a ballpark figure of what they might be likely to pay, stopping them from wasting their time and your time enquiring if they aren’t going to get the result they want.
Featuring your prices can be a difficult business decision, which depends vastly on your business and marketing strategy, take into consideration what is helpful for customers and what will benefit your business.
If you aren’t willing to show your prices on your website, then explain your reasoning and offer steps for what they should do next in order to get an idea of prices, creating curiosity and encouraging potential customers to find out more.
So should I show pricing on my website?
Whilst there are many positives for showing your prices, it ultimately comes down to personal choice, the best thing you can do is test it. Carrying out some A/B testing and comparing results can be a great way in figuring out if you get more sales, easier conversions and more customers with showing your prices or without.
