Pricing On Your Website
Are you asking yourself if you should put the prices of your offers on your website?
There are pros and cons to consider.
Let’s discuss them and see which ones may apply to your business.
The Cons:
Depending on your target market & the industry you work in there could be some pitfalls.
First, there are some buyers who buy based specifically on price.
If your target market is predominately based on clearance or low-ticket buying & they need some money mindset coaching to overcome buying objections you may do your business a disfavor by applying the price to your website.
You can check out the 7 Types of Buyers post to learn more about the different types of buyers. This is additionally why business planning & market research are important when starting your business & periodically as your business grows because knowing who & how your target market acts will determine what sales strategies you use in your business.
Second, if you are in an industry where there are cut-throat competitors who like to lower their prices to be more compelling this could certainly affect your business especially if your business isn’t already in a thriving state.
This leads us to the third con. If you are just starting in business this can cause too much pre-qualification and you can miss out on ample opportunities to serve & gain testimonials that you would have if you had not set distinct prices yet.
Therefore, some see prices on websites as an advanced strategy for more experienced business owners who have grown their audience & have a flow of clientele they can’t keep up with. So some business owners choose to wait until they get to a point in their business they are overwhelmed with work & need more pre-qualification & automations in place before applying this strategy.
Ultimately, you as the CEO just have to call the shot and make the best decision for your business considering all pro’s & cons for your specific situation and know that even if you give it a go, you can always change things up to test for better conversions.
Passion Profit CEO’s advice on pricing offers on your website
Do we think it’s a good idea to put your prices on your website?
ABSOFREAKINLUTELY!!!!
We do believe in putting prices on your website.
Personally, it is Danielle’s buying habit in stores & online. If a price or price range is not stated, she just doesn’t purchase from that supplier. (Something more to consider… what is your own buying habit?)
However, we also believe that the strategy isn’t for every business & each individual business needs to do what’s best based on their specific scenario.
Below are the four main reasons we love pricing on the website.
The Pros:
- Saves You Time
- Builds Trust & Showcases Professionalism
- Helps Buyer To Budget For The Service
- Ensures People Who Purchase Can Afford It Without Objections
First & a HUGE VALUE of Passion Profit CEO’s, it saves you time… hello automation & not have to share a price 100’s of times per day. When you have a lot of people inquiring that can take up a good chunk of your day. Why not automate?
It prevents you from wasting your time which is what Passion Profit CEO is all about so that you can create more freedom to live life on your terms.
Therefore, no sales calls instead you have enrollment calls or you have automated sales so you make money while you live your life.
But if you aren’t clear on your offer or you create custom packages & the price varies from client to client then it may not be possible at this time in your business.
Second, it builds trust because you are honest & transparent which also showcases professionalism. Doesn’t McDonald’s & grocery stores share their prices without hesitation? One of the only few reasons not to show your price or at least the price range is because of certain marketing strategies if you are trying to collect lead information & the only strategy you have in place for that is to have someone inquire about your services in order to know the price.
Third, it helps buyers budget for the service. Again, why it’s important to know who is your ideal client & what their habits are. Here at Passion Profit CEO, we share prices or pricing range because our clients are savvy spenders and though some may have a tight budget, it doesn’t prevent them from investing with us. A lot of times our clients have to SAVE in order to invest & having our prices available allows our future clients to do that without either of us having to spend time blocking time off on our calendar just to have a conversation on something as simple as price.
Fourth, having your prices on your website is a surefire way to pre-qualify so that the person inquiring about your services is ready to invest without objections. It ensures that your time is spent savvily to enroll & get started with client work.
Conclusion
There are pros & cons to revealing your prices publicly but you have to assess what is best for your business with the stage of business you are in & by factoring in who & how your target market buys.
Need Further Support?
Schedule a consult and let’s discuss what is best for your business so you can move forward using the most savvy strategies for your business.
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