Whether we like it or not, we’re all conditioned as consumers in this era to see pricing for anything we want to buy.
Yet in the B2B manufacturing world, companies constantly put up barriers that hide pricing information from future customers.
This happens for two reasons:
- Their products are big-ticket items with lots of potential configurations
- They don’t want their competitors to see their pricing and undercut them
We argue that these reasons are just excuses.
When you do list your pricing on your website, you invite a conversation with the prospect, you build trust and you set expectations.
When your don’t list your pricing, your buyers are just going elsewhere to figure it out anyway. And their first stop is probably your competitor’s site.
No matter what you sell – whether it’s a commodity or a big ticket, custom, complex solution, your prospects still care about the price. Price sensitivity will vary – I get it. But they still care.
So here are some ways to talk about pricing without physically listing $126,499.99:
1. Give a range
If your product usually costs between $50K and $150K, set those expectations. You’ll weed out price shoppers who will just waste your sales team’s time. And you’ll further qualify those who can actually afford your solution.
2. Explain the differences between the $50K and $150K version
Your answers to pricing questions probably often start with “Well, it depends.” So explain what changes as your buyer spends more.
3. Compare to the alternative
How’s your solution different from what your prospect is used to? When will he or she see a positive ROI? What’s the total cost of ownership (TCO)? Maybe they’ll pay 50% more for your product now, but it’ll last 10 years longer than your competitor’s.
Let’s stop beating around the bush and make it easy for our buyers to buy.