There are plenty of decisions business owners have to make when designing their websites. Design layouts, copy and calls-to-action, are just some of the elements that determine your website’s performance.
But should you disclose your pricing on your website? While marketers believe that including pricing can improve conversion rates, others recommend avoiding doing it altogether.
The amount you charge for your products or services can be the primary factor in a prospect’s decision. As a business owner, you should strive to move site visitors further along in your sales process.
But some considerations can influence your decision in disclosing your prices online. Different industries have specific practices that you should keep in mind.
Disclosing your pricing can position your business ahead of its competitors. But it could also influence the perceived value of your offer if those competitors don’t disclose their prices.
Why Disclose Pricing?
The price of any product or service is one of the first things a prospect wants to know. Online users visit multiple websites looking for the right company that meets their needs at a price that’s right for them.
Pricing gives these users the information that can support their decision in choosing your business over its competitors. If you fail to disclose your prices, you may cause site visitors to look elsewhere.
Disclosing your pricing demonstrates a transparency that adds to your credibility. Otherwise, you may lead prospects to assume that your products and services may end up costing them more than expected.
Keeping Your Pricing Off Your Website
Despite the benefits of disclosing pricing, there are some cases where keeping your pricing off of your website may be beneficial.
This is especially important for high-cost products or services that require additional information for prospects to consider before making a purchase.
Disclosing your pricing before you’ve had the opportunity to explain the features and benefits of your offer may cause prospects to assume that your services are too expensive.
Your pricing may depend on the needs of a customer or the size of a given project. In this case, disclosing pricing on your website could be misleading or give the impression that your services aren’t customized to each client.
It’s a good idea to explain this to your site’s visitors and guide them towards scheduling a consultation. This gives them an opportunity to determine what services will meet their needs and the cost to consider.
Pricing Best Practices
Regardless of whether you choose to disclose your pricing or not, there are some best practices that you should implement to get greater results in converting prospects into customers.
Your website should include compelling descriptions of your products and services. This provides visitors with the information that supports your price points.
Testimonials are a powerful way to express the value of your offer. The experience of previous customers who are similar to your target audience will persuade them to view your services as being highly valuable.
Online marketing experts continue to debate the merits of disclosing your pricing on your website (or not). As a business owner, it’s up to you to determine which strategy is right for your company and industry.
If you’re still unsure about how to effectively use pricing strategies for your website, let us know your questions in the comments below.
Understanding how pricing influences the decisions of your site’s visitors helps you create an effective website that contributes to your business goals.