You can find anything online. From stalking former high school friends to ordering your groceries, we have grown accustomed to accomplishing any task we want on the Internet. With millions of search queries right at our fingertips, we expect to find the information we need in seconds. And, when that information isn’t available, we move on to something else.
Case in point: restaurants. I bet that you are more likely to go to a restaurant with 50 Yelp reviews than a restaurant with zero reviews. In the absence of information, we grow suspicious. When information just can’t be found, we immediately start having doubts.
[bctt tweet “The fear of being undercut is an advantage for you.”]
I believe this same thought process proves that agencies should publish their prices online. Consumers are used to seeing pricing information and expect this level of transparency. When your prices aren’t listed, potential clients will get scared. They’ll move to another website because they’ll think you’re too expensive. Or, they’ll think something is “wrong.”
Still don’t buy it? Here are three more reasons you should publish your prices online:
People are more likely to buy if they know they can afford it
Potential clients want to know what they’re going to pay before they can even think about purchasing a service. If they even have the slightest assumption that you’re too expensive, they won’t go through the effort of contacting you or filling out a form. Eliminate the potential for false assumptions and set expectations by being transparent with your pricing. This way, you’ll know the people who are contacting you are serious about your services.
Higher price = higher quality
We subconsciously associate a higher price with higher quality. If you’re communicating with two graphic designers, and one charges significantly less than the other, you’ll start having doubts about her skills and will assume her quality of work isn’t as high as the more expensive designer. This is why pricing is so important in building your credibility and reputation. When you publish your prices and explain the concrete reasons why your client should pay more than competitor X, you’re subconsciously conveying your value.
The opportunity to own the pricing conversation
Many people are worried about publishing their pricing for everyone, including competitors, to see. They think that listing prices tells your competitors how to “undercut” you, and gives them a look at your cost structure. Well, your competitors can easily find out your prices even if they’re not listed online. And this fear is actually a good thing! Take advantage of it and be the first one in your industry or in your city to publish your prices. You have the chance to own the pricing conversation and clearly explain why you’re charging what you’re charging. And, as an added bonus, there’s a huge SEO opportunity in publishing your prices. Because no one else wants to put prices on their site, you can easily rank for “copywriting prices” or “graphic design prices.”
You can publish your prices in a couple different ways. You could bundle your services in a package, and publish the cost of the package or packages. For example, you could have “Graphic Design Package A for $X, ” “Graphic Design Package B for $X, ” and “Deluxe Graphic Design Package for $X,” pricing each package according to deliverables.
If your prices change from project to project, you can just say, “Prices start at $X. Contact us for an exact quote.” Even if you can’t provide a specific price, you’re giving potential clients an idea of your pricing structure. You’re being transparent about your services from the get-go — that’s the most important thing. And what better way to build great relationships with clients than to lay it all on the table from day one?
What do you think? Do you have your agency pricing posted online?