Should you publish your rates?

Strategy-and-marketing-planning


Should you publish rates on your websiteWhether to publish your rates on your website or not if you’re a service-based business is a dilemma that comes up time and time again. So, should you or shouldn’t you?

Of course, there is no correct answer. As my husband frequently says when asked a question, “It depends.”. To help you decide, here are the pros and cons of publishing your rates on your website.

The pros

Qualify leads

Providing your rates sifts out potential prospects that can’t afford or are unwilling to pay your fees. You’ll have certainty that your website prospects know what to expect, and you won’t waste time talking to people that were never in your ballpark.

Transparency

If you’re upfront about your fees, it demonstrates that you’re open and honest. And that engenders trust. Prospective clients might be more inclined to contact you as they know the costs upfront and value your honesty.

Reinforce brand

Showing your fees reinforces your brand and helps you to attract your ideal client. The price will indicate the type of service on offer and the type of client that is relevant to.

Cons

Off-putting

A black and white price without the context can be misleading. The cost might put off a prospective client that otherwise might not have been fazed after a discussion with you about what that involves.

Inflexibility

Once you’re published your prices, there’s no room to flex them. There will be times when you might want to charge clients differently, but it’s tricky to do that when everyone can see your price structure.

Competitor intelligence

If you’re selling into a price-competitive market, you might not want your competitors to have access to your pricing.

So, when it comes to publishing your pricing, there is no right or wrong approach. You can, of course, adopt the “From £…” method, which is a good middle ground giving you some flexibility and a ballpark guide for potential clients.

We’ve often toyed with sharing our fees on our website but have decided against it. We like to have a discussion with a potential client and go from there.

If you have anything to add to this topic, please share your thoughts in the comments below.

Image credit: Pixabay

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