The sales process remains the same, but the way your customers navigate the process and their expectations from you have changed dramatically thanks to the Internet. Pricing is no longer just part of the selection process. It is almost always the leading topic in the consideration phase.
If you’re not listing pricing on your website, you are missing a lot of potential customers.
Look at your own online buying habits
How many times have you heard about a cool product or service that you decide to research after work while sitting in front of the TV? (I’m sure I’m not the only one who does it on a regular basis.) Once you’ve spent a little bit of time skimming the company’s homepage to make sure it’s what you’re looking for, what’s the next thing you look for? Pricing information.
If you find pricing information, you will look through those details to determine if it’s good value and within your budget. If it is, you will likely continue reading to decide if and when you want to make a purchase or do business with that particular organization.
When you don’t find pricing information, your reaction tends to be different. Perhaps, you jot down a note to send an email for additional details, or you forget about the service completely and move on.
If you write yourself a note to send an email, there is a slim chance of you actually following through. Why? You don’t want to be hounded by a sales person. After all, you’re not sure it something you really need because you don’t know how much it costs. And because you’re busy, it is easy to move on to other pressing issues and abandon your search.
If you agree with the process I’ve outlined above, I want to remember that your customers online habits/processes tend to be the same as your own.
Your customers are too busy to be sold
I recently had the opportunity to work with a client on selecting a content distribution service provider. They had a very defined set of needs and had already done the work of identifying potential partners. They asked me to sit in on the selection process
One organization quickly sent a proposal that outlined my client’s needs and how the services this company provides would address them. All of the pricing information was included at the very beginning. They followed up with a brief presentation about how their service works and answered all our questions.
The second organization started by scheduling an hour-long presentation. During the presentation, they walked us through all of the features and benefits of their service. That meeting closed with them asking us what we liked and would we like to see pricing information? We proceeded to have two additional calls with this company, in which they talked through their pricing model based on what the organization believed my client could spend, not what their needs were. They also wasted a lot of our time.
At the end of the day, even though the second organization had a better platform for what my client was needing, they failed at selling the most important thing in the purchase process — Trust.
Pricing Equals Trust
Your customers want a quality product or service at a fair price. When you’re transparent about pricing, it builds trust with your customers. When you dance around pricing information, it has the exact opposite effect — it leaves the question of “What are you hiding?” in their heads.
Who cares if your competitors know what you charge?
Listing pricing is an important part of the purchase process, but there is also a lot of other considerations your customers will evaluate too. When you tell a complete story, including pricing information, customers are able to evaluate your company and your product/service based on its merits. When this happens, the concern of getting undercut on pricing goes away.
Check out our pricing information
We believe giving customers access to pricing information upfront is important for all of our clients. We also understand it’s important to walk the walk, which is why we’ve added pricing information to our website.
Please check out our “Pricing” page and let us know what you think.