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Why disclosing pricing builds trust with prospects and increases conversions

Tue, Apr 14, 2015

Topics: Customer Service, inbound marketing

If I have one piece of advice that’ll make your business boom in the next six months, it’s this: put your pricing on your site.

We’re all consumers, aren’t we?

The first thing we check when we go to a store is the price tag. But most business owners and marketers keep on forgetting this detail. In fact, Jakob Nielsen, a usability consultant, points out this critical business mistake when he said:

“The most user-hostile element of most B2B sites is a complete lack of pricing information. And yet, when we asked users to prioritize which of 28 types of B2B site information mattered most to them, prices scored the highest by far (29% higher than product availability, which ranked second).

Sites have many excuses for not wanting to display prices, but they are just that: excuses. Users expect to get a basic understanding of products and services during their initial research, and they can't do that without some idea of what it's going to cost. Even if your company can't list exact prices, there are several ways to indicate price level, which is really all people need initially. “

So, the big question is: why are we neglecting this number one need?

“I’m afraid my price we’ll scare people off.”

“I have no idea how much should I charge.”

“I need to know my clients first.”

“I don’t want my competitor to know.”

“My services are too customized or too complex to set a fixed price plan.”

Many businesses are still tied to the notion that showing price is taboo.

But isn’t it human nature to look for the best offer before the purchase? If your price is not on your site, how would you expect to get a call from customers? Where do you think prospects will go – to your competitors, perhaps?

And what if your competitors are more aggressive than you? What if their site includes a “Pricing” page just like this:

Mail chimp price plan image

 

Or this:
Zen desk price plan image

For once, put yourself in your customer’s shoes. Picture yourself browsing for a distributor. Then, you saw Company A's website. You clicked on the link and went straight to the “pricing plan” page. On the page, Company A discusses how it came up with different price plans for various services. The company has detailed all the features and benefits you'll get per plan. Company A even included special pricing for patrons and non-profit organizations. Lastly, the site features a chat support so you can discuss your desired package.

Isn’t it convenient? Don’t you feel secure? Aren’t you glad you’ve made the right choice clicking on Company A’s link?

Compare that page with Company B’s. The company has a “contact us” form that you have to fill-out. After a week, someone calls you. He introduces himself as Company B sales rep. He explains that they don’t discuss prices right away. But rather, “we want to know you better,” he said. And you spent an hour or two listening to his sales presentation when you need all along is the price. What would you feel? Irritated? Frustrated? Tricked?

When people ask me why I put my rates online, I tell them that transparency is important to me. Transparency assures my clients that I can deliver a quality job. It makes them proud because they made the right decision. It makes them happy because they’re getting their money’s worth.

What about you?

Are you ready to show your true value and be proud of it?

Try it.

I did and have never looked back.

I help business owners and marketing professionals build powerful, automated content systems, which increase sales and boost customer happiness. Here’s how it works.