Let’s say you’re buying something you’ve never purchased before — and this is a big-ticket item.
As you begin doing research, what’s the first question on your mind?
What will it cost?
Businesses Are Afraid to Talk About The #1 Thing On Every Buyer’s Mind
It doesn’t matter whether you’re buying a snowblower or renter’s insurance, an electric fence for your dog or inventory software for your business, the first question on your mind is always the same.
Every buyer wants to know it, but many businesses won’t reveal it.
Instead of being upfront about price, many businesses are secretive and cagey. They force would-be buyers to jump through hoops before they can get the number they’re looking for.
You know what I mean:
Talk to sales
Call for your free quote
Schedule a demo
Meet with an account manager
And so on.
Below, I’ll explain why this is a nonsense approach — and I’ll use real-world examples to show you the right way to talk about the price of whatever you sell.
‘We can’t just openly talk about price!’
When I start working with a business, this is one of my first areas of focus. I tell my clients, if you’re not talking openly about price, you’re not building trust with your audience.
And they get it. At least in theory. Still, every time, I hear the same three objections:
“Our pricing is complicated.”
“I’m afraid the number will scare some buyers away.”
“I don’t want my competitors to know what we charge.”
Because I’ve heard these so many times, I have my responses for each:
“Our pricing is complicated.” Okay, I get it. Price is often complex. But if you had a buyer ask you this question in the sale process, would you have an answer? A price range? A ballpark figure before they get a specific quote? Of course you would. So, put the price range on your website, even if it’s a big range. Any buyer is going to understand that there are variables that impact pricing. They just want an idea.
“I’m afraid the number will scare some buyers away.” Will some visitors see your price and get sticker shock? Possibly. But you’re educating them, not selling them, so the effect is different. And let’s be honest, are those people likely to become customers? Would you want your sales team to spend time talking to people who can’t afford you? I have yet to see any evidence that suggests that information about pricing scares away legitimate customers. In fact, it’s very much the opposite.
“I don’t want my competitors to know what we charge.” Whenever I hear this objection, I ask the same question in response: Do you know what your competitors charge? I’ve never heard anyone say no. If you already know what your competitors charge, there’s a pretty good chance they already know what you charge, too.
So, these three main objections are invalid. It’s time to stop making excuses and do the one thing all of your buyers want you to do. The one thing that will instantly build trust with your audience.
It’s time to talk about price.
Here’s how to do it.
Your top priority: Educating your customers about your industry
Being open about price doesn’t mean just putting up a PDF price list. It’s about educating your audience on how pricing works in your industry.
If you only talk about yourself, buyers may think you’re an outlier. If you talk about the industry as a whole, you can educate your buyers more broadly. You go from being a company that’s selling something to being an educator in your space.
Once you’ve done that, you can explain how your team does things differently. That way, you can still be an outlier, but on your own terms.
Below, I’ve put some examples from a diverse list of real companies. They openly talk about price in their industry, and then add specifics unique to their business.
Let’s look at these examples. You can follow the links to read the full articles for more information.
1. PartnerMD: How Much Does an Executive Physical Cost?
People are inherently skeptical of the pricing structure in the healthcare field. Here, PartnerMD counteracts that by being utterly transparent.
A few paragraphs into the article, you see a pricing breakdown that provides a range. Then, you see PartnerMD’s offerings alongside others in the industry.
It’s a pretty big price range, but it gives prospects an idea of what they can expect to spend.
2. Avian Mobility: A Complete Breakdown of the Cost of Wheelchair Accessible Vans in the U.S.
Avian Mobility sells medical vans to hospitals and directly to people with limited mobility. These are big purchases that are likely customized to each unique use case.
Next, the company provides a thorough rundown of what medical vans cost, including specifics for different features.
3. Custom Built Design & Remodeling: What Is the Average Cost of a Deck?
Perhaps nothing comes with more variables than construction projects. Even so, Michigan-based Custom Built Design & Remodeling put together this information to help their customers understand the cost of a deck.
In the article you’ll see a pretty big range ($25,000-$75,000) along with information about what’s behind those numbers.
Two extra things I love about this article from Custom Built:
1. There’s a section explaining variables you CAN control and variables you CAN’T control. It’s important people know the difference.
2. There’s a video that covers the same explanation. Some people want to read. Some people want to watch. Some people want to do both. It’s good to provide them with options.
4. Zoe Marketing and Communications: What Do Sponsored Content Articles Cost With a Publisher Partner?
Lastly, we have Zoe Marketing and Communications explaining the cost of sponsored content.
The cost of services is always harder to explain, but this article does a great job walking readers through all of the variables someone outside the industry might not think of.
Give your customers what they want
No matter what you sell, your buyers want to know what it costs. It’s the first question on their minds.
If you’ve never addressed price on your website, remember that you should focus first on the industry as a whole — and then on your own offerings.
When you do, you build trust with buyers who will appreciate your transparency.
Now it’s your turn.
Use the examples above as inspiration to finally give your customers what they want. This way, you’ll get more educated, more qualified leads entering your sales process.
It’s really a win-win.
But I know it’s not as easy as I make it seem here. For one, you have to convince your team from top to bottom that this is the right path to take. Often, that’s the hardest part.
If you see the importance but aren’t sure how to get started, reach out and talk to me. We train companies like yours — and like the ones above — to become the brands their buyers trust.
The first step is helping those buyers understand what they’re going to spend.