I was on a Forum recently where the topic of ‘advertising your rates’ was being discussed and it got me thinking ….
Should you display your price list?
Now I am one of these people who is happy to display their Price List on their website. I believe that if a customer is looking for information they should be able to find it. But some other business owners disagreed with my viewpoint so what do you think?
Are potential customers frustrated when they review a website and can’t find a ‘pricing’ page?
If you do quote rates on your website does that mean that potential customers don’t need to contact you, therefore you lose the opportunity of discussing in-depth with them how you can best support them?
Are potential customers more likely to contact you because you are open and transparent with your pricing structure or will they use your price as a negotiation tool with someone else?
Should you price each individual service or have a catch-all rate?
What is the best way to price your service, by the day, the hour, the quarter hour, the minute?
Each of you will have worked out what type of information you think your potential client needs, whether that is displaying your rates clearly, offering discounts, discussing projects or quoting rates after initial contact has been made – each of you will have a different way of working.
It is important to understand that ‘advertising your rates’ is only part of the process and that in order to secure the deal you must be aware of what is happening in the market place and have a strategy on how to compete with it.
As I said on the Forum … I suppose it boils down to what works best for each individual business. After all it wouldn’t be any fun if we all operated using the same business model.
The most important thing is that clients find us, discuss options with us and hopefully end up working with us!
What do you feel about ‘advertising your rates’?