Pricing on your website, flyers, and in the public domain – good idea or bad?
As a small business owner, should you make your pricing, for your service or product, known to the world? Should you keep your prices close to your chest? Can any good come of your prices being made public?
In my opinion, the answer is yes; yes, it is a good idea to put your prices in the public domain. Now let me explain why I feel this way…
Phone Calls and Emails
It stops the unnecessary, “how much for a spring clean?” “How much for a carpet clean?” “How much for regular clean” etc. You know the calls? Now, let’s be honest with ourselves for a wee second: these calls are NOT leads, they are enquiries.
Yes, you may secure the odd cleaning job or an appointment for an in-house quote whilst on that call, and that is great that your charm has converted the call to a lead, but how many calls do you take that you don’t convert? How much time do you spend answering price based telephone calls and emails? How often do you lie to yourself that business must be going great as the phone is always ringing or your inbox is full?
Having a price list, or prices starting from guide, on your website or Facebook, will not eliminate all of these enquiry calls altogether but they will significantly lower them. The other thing that you will find, when you have a price list, is when people do call it is more often to book the cleaning job or the in-house quote as they already know that they can afford your service, from viewing your price list, and have the confidence to proceed with you.
Price lists win business. I have attended hundreds and hundreds of quotes over the years and I always ask questions, to aid my marketing, such as; where did you hear of my business? Have you seen/are you seeing any other companies” etc. A piece of feedback, I have received many times, is that the reason I had the call, and then the booking, was because my website is transparent and told them what they needed to know. Clients like the openness. Clients don’t like taking time out of their day making several phones calls to try and get the information they need in order to make a financial decision for their home, it is laborious – Think about it, if you wanted to buy a car, or a pair of shoes, or a new laptop; would you visit every single shop that sold that item to see what particular product and price suited your needs most? No, I think not. I think you would go online and look on the brands website, or look on a comparison site or look in your newspaper or brochure you ordered.
Just to throw this out there – if you and I have exactly the same business, offering almost identical services, with a similar business structure, but my business has a price lst – I would bet that I would get the phone call that wins the job. My stall is already laid out, the client knows what I offer, whereas your business has no detail and is a mystery that requires work from the client to find out if you are suitable for them. Meanwhile my business is two steps ahead…
The Wrong Client
If a potential client is basing their decision for your type of product or service purely on cost, no amount of charm on the telephone will convert them. A client that is only cost driven, I can guarantee you, will become a troublesome client and they are best avoided altogether in my opinion. Having a price list or a price starting from guide on your website or flyer, will eliminate those people straight away – if they look at your prices and you are too expensive for them, they will leave your site quicker than a quick thing!
If you do not have prices available up front with a potential client you could also put yourself at risk of hagglers and price-knockers, you know the types, always looking for a discount, when you get to the quote? With a price list you don’t have this issue, your prices are your prices and it is clear for all to see.
Raise Your Industry
If all cleaning businesses had price lists, it would set an industry standard. It would set an industry bench march. Do you know what else it could do? It could help prevent predatory price structures from businesses that slash and undercut fairly run businesses, as they will have no place and will look like charlatans in the market place.
We run businesses and the point of a business is to be profitable yes? So why are we being shy about the fact we make money from what we do? Why don’t we want to declare our pricing? To me it is strange thought pattern, as big brands and big businesses advertise their prices and services/products in order to help the consumer make a decision about what service or product suits them, their family and budget best, so what aren’t small businesses doing the same? Are we afraid to outright compete?
Take a look at the video that accompanies this post:
What do you think about pricing in the public domain? Do you think it’s a good idea or a bad one? If you choose to not display your prices, why? What are your reasons? I would love to hear your thoughts and feedback on the subject, so please feel free to comment below.
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Until next time,
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