For service-based businesses, the debate surrounding whether or not you should list your prices on your website is an intense one. But the answer to this question is not black and white. There are gray areas that will affect your decision, such as: your current situation, your industry, your packages, your values, how compelling your sales copy is, your sales call closing rate, and more. Today’s blog post covers the factors you should consider and which option will be the best for your business.
First things first, listing your prices on your website should be a decision based around your customer’s needs, not your own. Ask yourself: what is my client’s budget range? Are these flexible or non-negotiable? How tight is my client’s deadline to start the project? Do they have time for a discovery call or do they need quick info so they can book fast?
If you don’t display prices, how would your clients react?
Would they automatically assume the price is out of their budget?
Would a discovery call feel like too much of a barrier for them?
If you display your prices, how would your clients react?
Would there be a higher rate of potential clients booking sales calls with you because your pricing matches their budget?
Would displaying your prices weed out unqualified leads?
By going through these questions from your client’s point of view, it should help you gain clarity in which direction you should take.
Your pricing structure.
Ask yourself: “Are your offers well-defined? Is your service standardized?” For example, a service that isn’t standardized would look like a custom web design service that warrants a personalized quote for each client (since the scope varies based on the client’s needs). In this instance, it’s best to avoid posting a standard rate since it’s different for every client. If you want to include some sort of pricing, however, you can show a minimum price, such as “Starting at $3,000”, to disqualify anyone who does not have the minimum budget to work with you.
If you’re afraid to list your prices on your website because it “will deter clients.” Let’s take a look at that opinion from a fresh perspective. While some people believe that if you show your prices on your website, page visitors will get sticker shock and bounce from your site. Many clients already have a budget in mind as they search for a service-based business that fits their needs. By showing your pricing, you are able to eliminate clients reaching out to you that are not a good fit. Avoiding discovery calls with unqualified leads will prevent you from wasting time selling a service to someone that’s just not a good fit.
Depending on how you structure your pricing and the quality of leads you are receiving on discovery calls, these factors will help determine if you should list your prices or not.
If you’re still unsure, the next step is to test conversions. List your prices on your websites and exclude them for a measured period of time to figure out which works best for your specific business.
How you can test for the best solution:
Showcase your prices on your services page for a measured amount of time. Keep track of service page visitors and how many clients you book.
Now remove the price listings from your services page. Keep track of the same metrics.
Calculate the conversion rate for each. To calculate this number, take the number of bookings and divide it by the number of page visitors.
Compare the two conversion rates, the one that is highest will determine whether or not you show your prices on your website!
The debate about whether or not you list your pricing on your website is a heated one. But no one knows your business and your clients like you do. Whichever action you ultimately decide to take, let it be one that is the most convenient for your ideal clients.