Gain More B2B Customers: Show Pricing
April 23, 2018 Branding & Marketing
When we were redoing our website and discussing the content we should feature, one of the biggest things we wanted to do was practice what we preach. With our clients, we’ve yelled from the rooftops about how important usability is. It can become a serious competitive advantage when you are the company that is easier to work with.
We know how important it is for customers to have easy access to the information they are looking for. Customers hate when information is held back.
What’s one of the first things any customer asks? How much does it cost?
And so, in our quest to be user-friendly and customer-centric, we put our pricing on almost every page. As a B2B company, we would highly recommend this practice for other B2B companies. The Nielsen Norman Group has done a good amount of research surrounding this topic:
Don’t assume that prospective customers will contact you for pricing, especially in the early research phase. Customers may travel far in their purchase journey before contacting suppliers. In our studies, we watch participants go to competitors’ sites when websites do not show prices. If pricing information can be found elsewhere, that’s where users will be. The first few websites that seem to have good product information (including pricing) will most likely make a candidate’s shortlist. – Nielson Norman Group
In our experience working with B2B companies, the large majority don’t outwardly share their pricing. To get ahold of pricing information, you must email or call someone. It is a hassle. It isn’t user friendly.
Fielding calls and responding to inquiries which could have been easily filtered out wastes valuable employee time that could be better spent on quality leads. It also might turn off potential consumers who can find a price elsewhere.
People view companies that hide costs as being evasive and untrustworthy. Don’t turn potential buyers away thinking that “If I have to ask, I can’t afford it.” B2B sites must strike the right balance between self-service activities and involvement from internal representatives. – Nielson Norman Group
The good news is that this is easy to change when your company understands the value and benefits of displaying price. Your company will become more user-friendly, customers will have a good idea of the category you are in, and it will give you an upper leg. It is one more step which will make your company transparent.
For example, our hourly rate is $90/hour. This rate often eliminates small businesses who don’t have dedicated marketing budgets, and it also eliminates large companies looking for big agency commercials and campaigns. Where does it leave us? Right where we’ve positioned ourselves—as a marketing and video production company focused on adding value for businesses without breaking the bank.
While there might be a variety of excuses, such as tiered pricing, complex pricing structures, and not wanting competitors to know—we’ve found that these fears end up being based more on old industry practice rather than real obstacles. Like the Nielsen Norman Group suggests in their article, you can show sample prices, or typical case-scenarios. The price doesn’t have to be exact. It just needs to put you in the ballpark.
Pricing doesn't have to be exact. It just has to be in the ballpark.
The results might surprise you. Showing pricing, along with clear and easy-to-understand product information, can go a long way in making your company easier to do business with.
Gain more customers by being more user-friendly. Take tangible steps in making your company more transparent by providing the information your customers are looking for.
Start by showing pricing—the effect might be subtle, but I can assure you customers will take notice.
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