As a business coach in Leicestershire, one of the questions that I am often asked is whether it is a good idea to publish prices on marketing material or website. It is a decision that many business owners find themselves deliberating over. On one hand, publishing prices can pre-qualify customers and build trust, but on the other hand, it can also be seen as a competitive disadvantage. In this blog post, I will explore some of the reasons why businesses should consider publishing their prices and how it can benefit them.
The Frustration of No Prices
Think about your own behaviour when you are looking for a product or service online. How often do you start your search with the question, "How much does it cost?" If you are like most people, you want to know the price before committing to a purchase. When businesses do not publish prices, it can be frustrating and create the perception that the product or service is expensive. This perception can deter potential customers and drive them to look elsewhere.
Addressing Variable Costs
One of the reasons why businesses may not publish prices is because every solution is different. However, businesses can address variable costs by giving an indication of what things will cost and providing possible ranges. By clearly explaining what determines a price, it can build trust in the mind of the potential customer. If the customer trusts you, they are more likely to contact you than your competitor who hasn't addressed price and has probably lost that trust.
Competitors Will Find Out
Another reason why businesses may not publish prices is because they are worried that their competitors will find out what they charge. However, competitor pricing is not a secret, and businesses should know what their competitors charge. Additionally, publishing prices can demonstrate, with the addition of some really good testimonials on your website that you are worth whatever you are charging. Quotes from customers who shopped around and decided to purchase your product or service is another powerful strategy.
Scaring Customers Away
Businesses may fear that publishing prices will scare customers away. However, in reality, not publishing prices can be even more detrimental. If potential customers do not know the prices, they may assume that the product or service is too expensive and cross it off their list. By publishing prices, it can pre-qualify customers and lead to more sales. It can also save sales time on trying to convert a lead into a customer who cannot afford what you offer. Take my business coaching for example, prices start at £499 per month. If that scares you away, then in all honesty you're not ready for a business coach to help you transform your life and business.
SEO Opportunity
Finally, businesses should consider the SEO opportunity of publishing prices. If 90% of businesses do not mention price, then ranking for pricing-related keywords can be an SEO goldmine. By doing some keyword research and finding the phrases being used in your industry that relate to price and cost, businesses can create content and potentially rank higher in search results.
CONCLUSION
In conclusion, businesses should consider publishing prices on their marketing material and website. It can build trust, pre-qualify customers, save sales time, and offer an SEO opportunity. By addressing variable costs and providing possible ranges, businesses can demonstrate transparency and earn the trust of potential customers. Additionally, showcasing testimonials and before-and-after pictures can further support the value of the product or service. If you are unsure about the best way to publish prices for your business, contact me for a free no obligation chat - Book Your FREE Discovery Call Now
AND REMEMBER...
If you require help for your business my prices start at £499 per month. Let me help your business in Hinckley, Leicestershire or the surrounding areas, you can find out more here https://www.workwithsteve.co.uk/