To list your prices or not? This is a question I get asked all the time by other social media managers and mentoring clients. In this blog post, I’m diving into the pros and cons of putting your prices on your website. It’s a hot topic with a lot of differing opinions in the online space, which is why I wanted to break it down for you.
There’s no one-size-fits-all answer—what works for me might not work for you, and that’s totally okay. There are so many factors that go into pricing. My goal is to give you some insight so you can decide what’s best for your business. Let’s get into it!
Understanding Your Own Buyer Behavior
In the online space, everyone seems to have a different answer when it comes to whether or not you should put your prices on your website. This makes sense as everyone has different business models, niches, services they offer, income goals, etc. But when it comes to your own service-based business, one thing I challenge you to do is examine your own buyer behavior.
For instance, if you go into Anthropologie and pick up a candle that smells really good, what’s one of the first questions that pop into your mind? I’m going to guess it’s “How much does this candle cost?” If the price is not listed on the back or somewhere on the packaging itself, you’re probably going to do one of three things: walk away, move on to a different candle, or ask the cashier for the price. This behavior is similar when searching for a product or service online.
So, when deciding whether to list your prices, understand your behavior and put yourself in your prospective client’s shoes. If a client comes to your website, do they get an understanding of who you are, what you do, and how you can serve them? How would they find out about your prices, and would you as a consumer want those listed?
Pros of Listing Your Prices
Qualify Leads Faster Making your prices publicly available or at least having a starting point helps your prospective clients know whether they can afford to work with you. It allows you to engage with clients who are serious about your services. Instead of asking about prices, clients can discuss how your services can benefit their business.
Gaining Trust Price transparency can build trust. Clients appreciate knowing what they’re getting into without hidden costs. It can be a deciding factor for them to choose your services over others.
Eliminate the “What’s Your Budget?” Question Listing your prices helps eliminate uncomfortable conversations about budget. Clients can see upfront what your services cost, making discussions about specific services more productive.
Cons of Listing Your Prices
Customized Packages If you offer highly customized packages, listing a fixed price can be challenging. Social media management isn’t one-size-fits-all, and the scope of work can vary greatly from one client to another. In such cases, consider listing starting prices to give prospective clients a general idea.
Competitors Finding Out Your Prices Some business owners worry that competitors will find out what they charge. However, competitors can often find this information out regardless. Focus on your unique value proposition rather than just competing on price.
Scaring Customers Away Some believe listing prices might scare away potential clients. This ties back to having a unique value proposition. If your services are unique and valuable, clients will recognize this and be willing to pay your prices.
Building Rapport First Some business owners prefer to build rapport and demonstrate value before discussing price. While this is valid, your website should also do the heavy lifting in conveying your value. If clients discover they can’t afford your services after a call, it can be a waste of time for both parties.
Final Thoughts
When deciding whether to list your prices, consider your ideal client. How do you want them to feel when they come across your website? Is pricing important in their decision-making? There’s little harm in listing your prices or at least providing a starting point.
Test different approaches to see what works best for your business. You might list prices for a month and then switch to a starting price or a budget question on your contact page. Analyze which method generates more inquiries and conversions.
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