Does it make sense to disclose the price of your offering on your website?
My thinking about this issue has shifted over time. I used to say you shouldn’t make prices available online. That’s because I strongly believe in value selling, the goal of which is to center the conversation on value first before discussing price. This helps you avoid becoming bogged down by lengthy price negotiations, price objections, and requests for discounts.
I still think it makes sense to establish your value before sharing price with prospects. However, there’s real risk in sharing your price too late. Here are at least four reasons why.
- Today’s buyer is accustomed to conducting a deep level of research before talking with a salesperson. If you don’t make your price available on your website, you might be creating an unnecessary speed bump during this research phase.
- Customers who can’t find your pricing will likely look elsewhere—and this might send them straight to the competition.
- If you don’t give any indication of what your solution costs, the prospect might simply give up and dismiss you as a possibility.
- A lack of information about pricing might stir feelings of mistrust (e.g. “What else is this company not telling me?”) whereas companies that disclose price might be viewed more favorably (e.g. “This company is trustworthy and facilitating my buying journey”).
Striking the Right Balance
To avoid these risks, I believe it makes sense for most companies to share pricing online, especially if:
- You have standard pricing
- Your competitors share their pricing
- Your price is not high relative to average expectations
- You want people to be able to buy your product easily
- You feel your price is not likely to scare them away
However, some companies may still want to avoid disclosing pricing online, particularly if:
- It would give competitors some kind of edge
- It might start a price war or allow competitors to undercut you
- Your price is too variable from one customer to the next
- Customers would get sticker shock and thus be discouraged from engaging with you
One thing you might consider is providing an estimated range, starting point, or ballpark prices on your website. This will help establish a baseline in the prospect’s mind so they can get a reasonable idea of order of magnitude as they conduct their research.
When debating this issue, be sure to think just as much about the prospect’s preferences and needs as your own. Don’t fear taking a more relaxed and open approach—especially if it could help open up more opportunities for your sales team.
