Whether or not to put service rates on your website is a decision each service provider has to make. Should you leave the prices off or should you list the rates for prospects to see? There are pros and cons to both scenarios. In this post, we discuss each option to help you decide which course of action would work best for you.
The benefits of putting rates on your website:
Sets the expectation of your price: Putting your rates on your website helps you weed out people who can’t afford you. It will help you avoid wasting time on sales calls with people who aren’t your ideal client.
Sets the expectation of what’s included: You can make it very clear what service comes with each rate if you create packages. The prospect can make decisions on what service will be best for their budget before even talking to you. Taking this approach saves you time and the prospect’s time.
Gives you the ability to sell passively: Have you ever been in a situation where you were interested in a service but the website says to call for details? This adds an extra step to the rate shopping process. A customer may sign up for the service without talking to you if the price is right.
The benefits of not putting rates on your website:
Gives you room for negotiation: The prices for your service may change depending on who you’re working with. You may charge a corporation a different price for a service than you would charge a mom and pop store. This gives you space to get details about a prospect before you name a price.
Let’s you customize: Not putting rates for each service on your site gives you a chance to customize packages. On a sales call, you can get an understanding of what the prospective needs so you can sell a service package that’s tailored to them. Leaving prices off of your site gives you quite a bit more flexibility in this regard.
Helps you express the value of high-ticket services: Prospects may scoff at very high-ticket service offerings when the price is listed on the website. There’s no context behind the price. For these services, a sales call may be necessary to learn their needs and explain how the value and your experience backs up the price point.
You can always do both pricing strategies to test which method performs better. Do a mix of both by listing a starting price on your website. This gives the prospect an idea of what you charge but also leaves some room for negotiation. If you set a starting point for your prices, stand firm in how much you’re charging. Negotiating down can cause the client to undervalue your work. Any freelance or service-based business provider will tell you that low paying clients can be high maintenance and not worth the trouble.