In the 80’s and 90’s one of the most common techniques to get customers to engage with you was to hide your prices so they had to contact you and you could sell to your heart's content (happy days). Thanks to the internet, pricing comparison sites and information being so freely available, customers can find that information for themselves. If not from you, from industry leaders and companies in your industry. So why hide your prices?
I know you might be thinking that you don’t want your competition to know what you charge but if you want to attract high value customers then put your pricing in your marketing. Remember they want to make an informed buying decision and price is an important part of that.
High value customers are not looking for the cheapest price. That’s not how they buy. They are happy to pay more for quality, a great experience and peace of mind. The last two significant purchases I made, which were worth thousands of pounds, were based on the fact that the two companies I purchased them from had detailed packages and prices so I knew exactly what I got and how much it would cost me. Their competitors didn’t offer me that information and so that stopped me buying from them.
Ben, my business partner, recently had to find a new supplier for us and the supplier he chose, from a very competitive industry, had a detailed list of services with prices.
Finally, what’s the point of spending time and money selling and marketing to people who simply cannot afford your service or product? It’s a waste of their time and yours. One client recently complained that they were getting a lot of inquiries only to find that the potential customers were really shocked about the price they quoted. We put the prices on the website and landing page, made no secret of it and the quality of their enquiries significantly improved because they knew exactly what it was going to cost them.
Put your prices in your marketing and website. Next week I’ll share my top tips on how to address the pricing issue if your pricing is bespoke depending on what the customer wants.
Just in case you were wondering, our prices are available on the website just click here.