Even if they don’t say it out loud, this is what all consumers really want to know, the bottom line. So if everybody wants to know, why is it so hard to talk about?

Being open about the price of products or services on your website will reap huge benefits. Consumers want the facts and if they don’t find them on your website, they will go somewhere else in a matter of seconds. Be the exception to the rule and answer the money question. It’s easier than you think.

Why don’t people put pricing on their websites?
1. Many people think that showing prices will scare prospective customers away.
2. They think they know something everyone else doesn’t and that their pricing is “top secret”.
3. Pricing is custom and varies according to project options and fluctuations in the cost of materials.
4. They are afraid the competition will undercut their prices if they make them visible.
5. People just don’t do it.

Although some of these may have been valid reasons in the past, they don’t hold up in today’s competitive market. With the internet, anything a consumer wants to know is just a search away. The majority of consumers today have done their homework and are informed about the product or service before they buy.

A Golden Opportunity
A potential customer’s first and last stop should be your website. If they can find out everything they need to know on your website, then there is no need for them to look any further. Think like your customer. Here is a simple scenario of how this works:

• Newlyweds Joe and Becky just moved into a new house and want a deck built around the back of their home.
  • Joe goes to his phone and searches “How much does a small deck cost?”
  • On the first page of results there is a link to an article titled “How much does a deck cost?”
  • Joe clicks on the link and is taken to the website of Smith Builders. Not only does Joe find an answer to his question on pricing, he finds a host of other articles that relate to the cost of a deck, such as:
    • What is the best material for a deck?
    • Many other articles that educate him about the value associated with the cost.
    • How to design your deck.
    • What is a good size for a deck?

Joe is now informed and feels confident in moving forward. He takes the next step and clicks on the Contact Us button.

What did Smith Builders get right?

• Talked about cost. By being open about the cost of a deck they were able to make a good first impression that addressed the needs of the prospective customer. This established a foundation of trust.
• Added value. They provided additional information about the variables that affect price such as deck design, size and materials.
• Invested in their customers. They gave their customers the tools needed to make an informed decision by making the extra effort to teach and share their knowledge.
• Ranked high search engine ratings. Since none of their competitors had talked about cost, Smith Builders was at the top of the search results.

Real-life Analytics
Check out this chart from Hubspot for an actual case study of the substantial increase in web traffic and submissions after a pricing chart was published on a website.

The Times They are a Changing
The power and reach of the internet has leveled the playing field for businesses of all sizes. Old sales techniques of trying to hook customers before giving them a price is no longer an effective sales strategy.

Today’s consumers are busy and don’t have time to jump through hoops. They want the facts and a quality customer experience. Not providing prices can give the impression that things are too expensive—like the market price of a lobster at a restaurant.

Consumers aren’t always looking for the lowest price. Many are willing to pay a fair and honest price for quality. Those who are looking for the cheapest price are not necessarily a good fit for your company. Posting prices will naturally pre-qualify your leads, separating serious prospects from window shoppers. It will save you considerable time as well by not having to answer the same price questions over and over again.

How to Start the Cost Conversation
Here are a few ideas to get you started. The options are unlimited. Follow the links to the websites for a little inspiration and some great examples of businesses that are currently implementing these tactics.

1. Break the ice and start out with a “How much does a  _______ cost?”
Begin with your most popular product or services and then get more specific.

• How much does a fence cost?
• How much does a white picket fence cost?
• How much does a chain link fence cost?

2. Explain past projects.Talk about different situations and scenarios you have encountered. Give examples of projects at different price levels.

3. Provide a range. Prices do not need to be exact. It is ok to give a wide range.

4. Give a base price. Even for custom quotes, you can provide a base price.

5. Discuss trends in the industry. Fresh ideas, themes, what is popular.

6. Talk about the factors that drive the cost of a project up. Making changes is a big one here.

7. Factors that keep the cost of a project down? Give your customers money saving ideas such as:

• Buying certain items at the end of the season
• Planning ahead

Let your website do the talking. Be clear on what makes your business different and unique. If your competition is less, explain why. Take every opportunity to teach and explain.

It's a competitive market out there, which is all the more reason to do something different and stand out. Go ahead, see what happens when you answer the question “How much will this cost?” If you don’t, someone else will.