Embrace Transparency: Why You Should Publish Pricing on Your Website

For many businesses, especially in the B2B space, the decision of whether to publish pricing information on their website is a controversial one. Despite pricing being one of the most important factors in any customer‘s purchasing decision, companies are often hesitant to openly share their prices online.

But in today‘s age of transparency and easy access to information, avoiding the pricing conversation is becoming less and less feasible. Customers expect to be able to find key details like cost quickly and easily as they research their options. By choosing not to publish pricing, you create friction in the buying process and risk losing prospects to competitors who are more upfront.

So why exactly are businesses so reluctant to be transparent about pricing? And more importantly, what benefits are they missing out on by keeping this information under wraps? Let‘s dive in and explore the case for putting prices online.

Common Reasons Companies Avoid Publishing Pricing

First, let‘s acknowledge some of the common objections and concerns that cause companies to shy away from posting prices on their websites:

1. "It‘s not standard in our industry."
   In some industries, particularly those with more traditional sales models, publishing pricing is simply not the norm. Companies feel that doing so would be straying from the conventions of their market.

2. "Our competitors will undercut us."
   Many businesses fear that by openly stating their prices, they make it easy for competitors to strategically price their own offerings lower to steal customers away. They believe secrecy gives them a competitive advantage.

3. "All our pricing is custom."
   For products or services that have highly variable pricing based on the customer‘s specific needs, companies often argue that it‘s impossible to provide standard prices. Every scenario is unique.

4. "We prefer to give quotes in person."
   Some old-school companies insist that pricing is something to only be shared in one-on-one conversations with sales reps. They want more control over the sales process.

5. "Prices will scare prospects away."
   Sticker shock is real. Companies worry that if prices seem too high at first glance, potential customers will immediately bounce from their site without bothering to learn about the value they provide.

While these concerns are understandable, they are based more on fear and tradition than the reality of today‘s buying behaviors. The truth is, publishing pricing on your website offers far more upside than risk. Here‘s why it‘s worth strongly considering…

The Benefits of Publishing Pricing Online

1. Own the pricing conversation
   Worried about competitors? Whether you publish pricing or not, you can be sure they are researching your company and coming up with their own narratives about how your offerings compare. By proactively sharing your pricing, you control the story. You can provide context about what‘s included, highlight your value-adds, and help prospects understand why you‘re worth a premium. If you avoid the topic of price, you let your competitors define the conversation.

2. Build trust through transparency
   Pricing transparency is increasingly important to today‘s buyers. A study by Label Insight found that 94% of consumers say they would be more loyal to brands that are fully transparent. 39% say they would switch to a new brand in pursuit of greater transparency. Being open about your pricing shows you are confident in the value you provide and have nothing to hide. It builds trust with potential customers right off the bat.

3. Automatically qualify your leads
   One of the top benefits of publishing pricing is that it automatically pre-qualifies the leads you generate. Think about it – if someone sees your prices and still inquires about your offerings, you know they are probably in the right ballpark budget-wise and are a serious potential buyer. This saves your sales team countless hours weeding out poorly qualified leads who can‘t afford you. Your published pricing acts as a filter so you can be sure anyone who contacts you is a viable prospect.

4. Boost your search engine rankings
   Here‘s a benefit that is often overlooked – having a detailed pricing page is great for your SEO! Think about the types of searches your target buyers are doing as they research solutions. Queries like "YOUR PRODUCT pricing", "how much does YOUR SERVICE cost", "YOUR COMPANY prices", etc. are extremely common. By using these keywords on your pricing page, you can rank for these high-purchase-intent searches and attract qualified traffic. Even better – because most of your competitors avoid the topic of price, you‘ll probably find these keywords have relatively low competition. It‘s an easy win!

5. Create a better buying experience
   Put yourself in your customer‘s shoes. They are likely researching multiple options to solve their problem. Having to hunt around for pricing information or jump through hoops like filling out quote request forms just to get a basic idea of cost is a hassle. If you make it easy to access your prices, you create a better experience for these prospects. Even if your prices are on the high end, they will appreciate your transparency and be more likely to engage with your company further.

How to Present Pricing on Your Website

Sold on the benefits of publishing pricing information on your website? Great! Now let‘s cover some best practices for actually making it happen. Here are a few tips:

Use ranges or "starting at" prices
If you offer custom products or services and the final price varies based on the customer‘s unique needs, you can still provide ballpark pricing. Listing price ranges (e.g. $5,000 – $10,000) or "starting at" prices (e.g. Projects start at $15,000) gives prospects a general idea of your rates while leaving room for custom quotes. You might also list specific line items that are additional costs.

Provide tiered packages
Consider offering your products/services in a few different packages at varying price points. A common model is to have a Basic, Professional, and Premium tier. This allows you to appeal to customers with different budgets and needs. Clearly explain what is included in each tier and the additional value provided at the higher price points.

Focus on value, not just numbers
Of course, you don‘t want your pricing page to just be a list of numbers. Make sure to include compelling copy that highlights the value and benefits customers receive for the price. What pain points do you solve? What ROI can they expect? How do you go above and beyond competitors? Use strong value-driven messaging to accompany your pricing.

Include testimonials or case studies
Social proof is a powerful tool for justifying your pricing. When prospects see reviews and success stories from customers who happily paid your prices and achieved great results, it eases their concerns. Consider adding some testimonials or brief case studies to your pricing page to add credibility.

Create a custom quote option
Even if you publish set package pricing, it‘s always a good idea to include an option to request a custom quote. Some customers will have specific needs that don‘t fit neatly into your listed options. Make it easy for them to reach out and discuss their situation.

Overcoming Mental Hurdles

If you‘re on board with the idea of publishing pricing but are still hesitating, let‘s break down some of those lingering mental roadblocks:

"My prices will scare people away"
You might worry that your prices will cause sticker shock and drive away potential customers. But in reality, you only want to attract qualified prospects who can afford to pay what you‘re worth. If someone balks at your prices, they likely weren‘t a great fit for your services in the first place. You haven‘t lost a viable customer. If anything, you‘ve saved yourself time and hassle by avoiding tire kickers who would have wasted your time only to say you‘re too expensive in the end. Your prices will only scare away the people you don‘t want to work with anyway.

"My competitors will undercut me"
Obsessing over what your competitors charge puts you in a race to the bottom. There will always be someone willing to offer rock bottom prices. But competing on price alone is a losing game. Instead, focus on competing on value. Use your pricing page as an opportunity to highlight your unique value proposition and explain why you‘re the best choice, even if you‘re not the cheapest. Customers don‘t always go with the lowest price – they go with the option that gives them the most value for their money.

"I‘ll lose my ability to negotiate"
Some companies like to have leeway in their pricing so they can offer discounts to close deals. Publishing set prices makes them feel like their hands are tied. However, realize that you can still offer custom quotes and promotions as needed. There‘s nothing stopping you from working out custom pricing when the situation calls for it. Your published prices represent your standard rates, but you still have flexibility. Just think of all the times you‘ve seen a retail store offer an unpublished coupon or discount to earn your business.

Publishing Pricing Pages: Success Stories

To give you some real world inspiration, let‘s look at a few examples of companies that are doing pricing pages well:

Mailchimp
Mailchimp‘s pricing page is a master class in simplicity and ease of use. It clearly lists the features included in each of its four pricing tiers and makes it easy to compare them at a glance. It also includes FAQs to address common questions about billing and additional fees.

HubSpot
HubSpot takes a unique approach by offering multiple product bundles at different price points. This allows its pricing page to serve as a mini product selector, guiding prospects to the plan that best fits their needs. It also demonstrates the added value you get with each upgrade.

Slack
Slack‘s pricing page is clean and easy to scan, with a chart that lists the specific features you get with each plan. It offers some flexibility with its "contact us for custom pricing" option. And it leverages social proof with logos of well-known companies that use its platform.

How to Create Your Own Pricing Page

Ready to reap the benefits of publishing your pricing? Follow these steps to create your own effective pricing page:

1. Define your pricing model
   Will you be listing specific prices for each product/service? Price ranges? Tiered packages? Decide on the general structure of your pricing.

2. Outline key information to include
   In addition to the actual prices, make a list of other key details to highlight: features included, FAQs, testimonials, case studies, value-add messaging, etc.

3. Write your copy
   Craft compelling messaging that focuses on the value you provide and the pain points you solve. Avoid generic fluff and get specific about the benefits customers receive.

4. Design your page
   Create a clean, scannable design that makes your key information easy to find and digest. Use visual elements like comparison charts to facilitate easy decision making.

5. Test and optimize
   Once your page is live, use tools like heatmaps and user recordings to see how visitors are engaging with it. Run A/B tests on elements like headlines, CTAs, and page layout to optimize for conversions over time. Treat your pricing page as a constant work in progress that you are always improving.

Take the Plunge Into Pricing Transparency

It‘s time to let go of outdated notions and embrace transparency in your pricing. The benefits – owning the conversation, building trust with buyers, qualifying leads, boosting SEO, and creating a better buying experience – far outweigh any perceived risks.

By crafting a compelling pricing page that highlights your value while putting your cost in context, you can make your prices an asset rather than a source of anxiety. Instead of hiding from the topic of money, proactively share your pricing and show the world you are confident in what you‘re worth.

If you‘re ready to pull back the curtain on your pricing but aren‘t sure where to start, follow the tips and best practices covered in this post. Look to successful examples for inspiration. And if you need help creating your pricing page, consider partnering with an experienced conversion copywriter who can help you find the right words to convey your value.

Your pricing is a key part of your story. It‘s time to start telling it.