Monday, April 1, 2024

Is Hiding Your Prices Hurting Your Business? [Endless Customers Podcast S.1 Ep.19]

About this Episode

When it comes to selling, businesses are sometimes their own worst enemy.

All too often, they wait as long as possible to actually talk about price.

Think about it, price is at the top of every buyer’s mind, whether you sell sewing machines or software or security. Yet businesses shy away from being open about price on their website.

Instead, they say “call for a quote” or “speak to our sales team.” 

But then, the salesperson plays the same game, keeping price hidden for as long as possible.

According to business coach Brian Casey, “If we make a conscious decision not to talk about cost and price, we're choosing to handicap the prospect's ability to buy from us.”

Instead, Brian advocates honesty and transparency. This doesn’t mean putting a full price list up on your website, but providing price ranges so your potential buyers know what to expect. 

We should “empower a customer or prospect to make an educated decision,” he says. When we give them up-front information about price — ideally on our websites — we give them the information they’re looking for. This weeds out prospects who are unlikely to buy from you — and builds trust with good-fit prospects.

Data from many industries underscores the same point: buyers are changing. Today’s customers expect to find every bit of information they’re looking for online. They consume this information on-demand before ever meeting with a salesperson — if they ever meet with a salesperson at all. The businesses that provide this information are the businesses that will succeed in selling to the buyers of tomorrow. 

The most important bit of information you possess is this: What does it cost to buy from you?

The more openly you address it, the better you’ll connect with buyers. 

Connect with Brian

Brian Casey is a business coach and marketing trainer at IMPACT, where he leads companies through They Ask, You Answer transformations. 

Learn more about Brian from his IMPACT bio page

Connect with Brian on LinkedIn

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Author: awinter@impactbnd.com (Alex Winter)

* This article was originally published here

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