In my opinion, no, it’s then a glorified “Contact Us” page. The most frustrating thing for all types of customers to run into when researching products is a “Pricing” page that lacks price. Now we can all understand that frustration; especially as we’re often looking for products that fall within a budget, right? When pricing isn’t found, the most common assumption is that the price will exceed the allotted/potential budget.
Why is Pricing Needed?
Notice I said “needed” and not “wanted.” It’s necessary to include pricing or you’re missing out on prospective customers who scratch you off their “potentials” list.
- To make true comparisons. This is a fundamental element in the decision-making process when selecting the best product/service to meet business needs. Without pricing, it’s impossible to adequately compare products/services from one provider to the next.
- To plan. Business products/services can be costly. Such purchases require thorough consideration, involving research and planning, which take time. Businesses must also make/find room in their budget for the new acquisition.
- To build trust. Providing pricing shows a company’s willingness to be transparent with prospective customers and builds trust. Trust is an essential element when building a good customer relationship.
What are common reasons pricing is not included?
In the article, State the Price to Give B2B Sites a Competitive Advantage, Hoa Loranger from the Nielsen Norman Group explains that many companies feel they have a valid reason for not including pricing. Some of these reasons include: keeping competitors blind to “our” pricing, pricing varies from one customer to the next, customized services have unique pricing, etc. No matter the rationale, Loranger states that these are essentially excuses (legitimate or not). If product information and pricing is available with your competition, the customer will most likely go to your competitor, even if your product is superior.
The early research phase isn’t the time prospective customers are interested in dealing with a salesperson. In our interviews with business professionals, most prefer to do the leg work without the need to contact someone for more information. They don’t want to be pressured to make a purchase or receive constant hard-sell calls. Let’s put it this way: they’ll contact you when they’re ready, not when they’re forced to contact you just to learn more.
What’s the alternative?
The best practice should be to include transparent pricing on a pricing page as much as possible. If some of the reasons mentioned above are the issue, consider providing sample prices. Show pricing for typical scenarios or include a price range. In our interviews, panelists stated they would like a price range if actual cost can’t be provided to give them a basic understanding if this is a viable option. This gives customers the data to work with during the research phase and still allows for some comparison to other competitors and their products.
One of the most frustrating things a customer can run into is a pricing page that lacks pricing. Provide customers with clear pricing as often as possible. If you have real reasons to not provide pricing, include a range or starting point. This allows you to be a contender when businesses are looking for new products/services and is not as off-putting during the research phase.
Rebecca Winberg contributed to this article.
Loranger, H. (2013, December 1). Pricing information gives B2B sites a competitive advantage. Retrieved November 06, 2017, from https://www.nngroup.com/articles/show-price/
Also published on Medium.