Category: Business & Finance
Why displaying fees on your website may provide an advantage over your competition
Many small businesses use their web presence to generate leads to feed into their sales process. Each page has a purpose with variations on the intended users the business hopes to appeal to.
Each piece of content has its purpose but overall the reason is to entice users to get in touch. In keeping with that, it seems reasonable to display your price structure so your leads are qualified before they get in touch.
Or does it?
Not all visitors to your website will be leads.
Not all industries are alike.
Competitors may be surfing your site to see what you charge with the intention of undercutting your rates. If they know you are consistently trying to attract leads from the same base, then having lower prices displayed can give them an advantage over you when bidding on projects or submitting proposals.
Prices in your industry could vary based on many other variables.
Understanding why or why not requires a little bit of elbow grease and a balanced perspective of the issue.
How to Know if You Should Display Your Prices
While this Moz article referencing website pricing is dated, it does makes some very good points about why you should display pricing.
If you display pricing you should also convey value. A value proposition including a pricing tier can address variables related to your business that can actually set you above the competition.
Listing pricing without context or with only a few lines to convey value won’t draw in a user reviewing multiple options. You may be more expensive than your competitor but you might also be offering a lot more for what you charge. Make sure your leads know!
This could also be a reason to not display pricing as well. If you have already evaluated your competitors and they have tiered pricing that beats the value of what you offer, then take the time to assess how they’re able to provide more at a lower cost.
If you’re feeling ambitious you can even call them to clarify what they’re offering and ask for examples of it in practice. Sometimes the value stated on the site is misleading so don’t take your competitor’s claims at face value.
What if Your Competitors Aren’t Displaying Pricing?
Your competitors may not be showing how much they charge but that doesn’t mean you can’t.
A money-focused business can sometimes be more focused on its own bottom line than servicing its customers. Your competition isn’t just related to price so if you’re up against established pros in your industry you can overcome the hurdle of their online presence being much stronger (more reviews, more activity) by doing what they won’t.
State the reason for listing the different pricing tiers. Each should have a unique reason for being there beyond just profitability.
Since you already developed the pricing for a reason you should know why. It could be who you’ve serviced in the past or based on your own research. Be up front and honest about why you charge what you do since eventually that conversation will happen anyway.
You can leave prices off site and save that until you’ve spoken with the lead with the hopes of selling them past any objection to your pricing or you can remove that step by stating the sales points with the price on your website.
Your competitors are a guide but not a rule. If you feel as though they’ve left their prices off their site for a reason that doesn’t apply to you then don’t hold yourself back from showing your own prices.
What if Your Competitors are displaying Their Prices?
If your competitors are up front about their prices but you feel as though doing so would put you at a disadvantage then the same question you should ask yourself is the obvious one your leads will want the answer to: why?
A bad experience could have put you off or just the anticipation of leads getting sticker shock.
Maybe you don’t want the competition being educated on your prices? Sometimes your reasons will be very valid but be prepared to have an answer if your lead is shopping around and the question comes up: I saw on XYZ’z website they offer A for $XX and you’re now saying you also offer A for $XX. How come you don’t put that on your website?
Have an answer and a good one. Include an anecdote if the reason is a bad experience or you will be stuck stammering to explain why and risk looking like you’re being dishonest before you’ve even started any sort of business relationship with your lead.
Displaying Prices Is Up to You
At the end of the day, displaying prices on your website is your choice. There is no absolute rule of thumb to follow. Assess all factors involved and make the right decision for your potential customers.
If you are withholding pricing with good reason you can even state it on your site but if not then you may want to rethink the decision.
Keeping an eye on your website stats can play a significant role in helping you decide whether displaying prices is working or not. If you’re feeling ambitious, you can place all pricing on one page and then check your Google Analytics to see if that’s where the trail ends.
If users are getting as far as the price page and not contacting you then it could be that your price page isn’t conveying enough value to justify the prices.
These days for a successful business, you need to start with promotion via various online and offline marketing tools. Many of the marketing formats require a lot of budget and yield result which is low then the amount spent on promotion. So we need to create marketing plan by filtering out the most effective methods. Brochures are one of the evergreen methods that is successful and has low impact on your marketing budget
Brochure is an effective marketing tool for offline promotion of a brand. It requires a lot of creativity and hard work to bring in users with the help of brochures. Some valuable tips to design a great brochure are as follows:
Take note of your ideas
The first most thing for an effective brochure doesn’t require contacting a graphic designer or online design research. It requires your vision and primary factors that lead to the use of a brochure. So just grab a pencil or pen and sketch our the ideas and concepts that come up in your mind. Discuss it with your colleagues to see if you are moving in the right direction for your brand’s promotion
Know Your Audience
The brochure is not like another form of marketing as it can help you target a specific Geo location. Design a brochure keeping customers requirement in mind. It is not necessary that our customers will like what we like. For this do a market research and get input from your valued customers. You must focus on creating a brochure that your target audience will want to read
Always Remember the importance of cover pages
Think of your brochure’s cover page as an entrance to your business. You want to encourage customers to visit your business. The cover page should comprise of information and infographics that will make the customers to turn the page and find out more about the brand. Keep the message simple and clear. Use headings like exciting discounts, special offers to make them keep the brochure handy for the discounts you have been offering
Limit your fonts
IF you have little freedom in using the right kind of font, you can do magic with your brochure. Use different font styles and sizes to help your brochure pages to stand out. Every design requires font styles that should suit the infographics on the brochure. Always try to keep consistent and make use of 3 overall sizes – heading, sub heading & general text.
How to Avoid Making Impulsive Purchases from Success-Promising Gurus
I recently attended a 3-day business conference in Vancouver. There were about 500 people in attendance, all business owners and entrepreneurs who where there to network, learn and be inspired.
All in all, it was a great event that resulted in my meeting new people and gaining valuable insights that I brought home with me to infuse into my business.
The conference boasted nine high-profile speakers including thought leaders like Jack Canfield, Dr. John Gray and James Malinchak. Their talks were entertaining, insightful, informative and motivating.
They certainly learned the craft of being an influential presence on the stage well.
But make no mistake, each of these speakers were there with the sole purpose of promoting their wares and influencing the audience to purchase their key strategies, programs and courses that promised business success.
And they succeeded.
The volume of people that ran to the back of the room to grab their limited-time, extraordinary low-cost offering before it was sold out was mind boggling.
As a member of that audience, I was fascinated by what I was witnessing. Perhaps it was my state of mind or the confidence I already felt in my capabilities of achieving further business success, but I was not at all tempted to be a part of the crowd to run to the back of the room and grab a purchase.
I looked around and saw men and women who were involved in a variety of different businesses and industries. Many of whom where desperate to get that SECRET FORMULA that would transform their struggles into riches.
And the speakers on the stage knew this and played right into their hands.
Throughout the 3 days, the audience was presented with lots of solutions, advanced systems and formulas on how to achieve success in their business. But the problem is, not all proposed solutions were ideal for everyone.
But what is a business owner and entrepreneur to do?
They are attending such events to help them with their business so are naturally attracted to the offers made up on the stage.
So to help avoid make irrational and emotionally-based decisions when faced with the pressure of live event and even free webinar offers, here’s 5 steps on what to think about first before jumping in with the crowd and grabbing your purchase:
1. Think things through first. Ask yourself if this opportunity is truly going to get you the return on your investment if you make the purchase. What are you willing to commit to in order to get the most out of that investment?
The key here is to understanding success is not just going to happen by signing up, but to actually do the work. Are you realistically willing to do the work? Are you going to be 100% committed to this or will you get home, set it aside, and promise to get to it when you get a chance?
None of these programs will get you the results these presenters are talking about if you’re not committed enough to follow through on every single step provided.
2. Be objectively critical. When these speakers are on the stage, they are sharing the best success stories possible – the cream of the crop. Often this reflects only a minor percentage of those who have taken the program.
Analyze. Be objective. And don’t make emotionally-based decisions that compel you run to the back of the room and purchase. This is exactly what they are counting on.
3. Decide if your business can truly benefit from what you will learn. Just because they are telling you this on stage doesn’t mean it’s a perfect fit for you, your business model and your goals.
As an example, if you have the gift of service and support, then more than likely will not do well learning to be a speaker on stage, despite that presenter saying “anyone can do this using my system and processes”.
If you have the gift of, say, music, then being a published author is probably not something you should pursue, despite being provided with a “fool-proof, iron-clad method that will get you on the Amazon best seller list”.
Ask yourself if what this presenter is offering exactly what you need to learn in order to reach your business goals or is there something better suited for you available elsewhere? Do you really need to learn all of this yourself or is hiring someone who is an expert in that area a better decision that will help reach your goals quicker without having to become an expert in that field first?
4. Recognize the emotional manipulation that’s happening. We see this all the time. Whether you’re attending conferences or online webinars, there’s always a “limited time offer” that makes it irresistible to pass up.
Don’t let these “One-time-only offers” lead you into thinking this is the only chance you’ll ever get to take advantage of what’s being offered. It simply isn’t true. It’s a sales tactic that preys on people who make emotional decisions and don’t want to be left out or miss out on an incredible opportunity.
These programs will all still be offered after the hype ends. Even if that means paying $50 more, so be it. Give yourself time to objectively work through the pros and cons and decide whether it’s worth your investment or not.
Don’t let your emotions be triggered by the slick sales speech or written sales copy on a page.
5. Do your research. This may not necessarily be the case for headliner speakers we see on the stage, but sadly, there are a lot of very smooth-talking “gurus” out there who are nothing but smoke and mirrors. They offer a lot of hype but little substance.
Do your pocketbook a favour; before investing in any kind of program or product, research the person selling it first. Do a Google search and see if any bad reviews come up. Ask people in your social media groups if they’ve had any experience with that person and what were the results.
Your goal is to make an informed decision, not an emotional one based on the promises of the sales copy. And if you do encounter negative reviews – listen to your gut. So many times wrong decisions are still made because, as human beings, we’re highly influenced by emotions and we can easily justify our actions based on those promises despite finding evidence to the contrary.
After reading this, you might think I’m against purchasing programs and courses all together but that’s not the case at all. I’m not saying not to invest in business growth strategies, but instead to make informed, objective decisions on which investments to make in the first place.
The sad fact is that marketing can be a very manipulative process that is meant to create fear- and lack-based, emotional responses. The people we see on stage, as well as those that do highly visible free webinars, are masters at pulling these emotional triggers.
Simply be aware of that manipulation and follow the guide I outlined above to help you decide whether or not your business can truly benefit from that investment you’re being asked to make.