Should Your Website List Pricing? The Benefits of Price Transparency (Even When Competitors Hide)

Many businesses, especially those selling to other businesses (B2B), are hesitant to display their prices online. But there are real advantages to price transparency, even when your competitors are playing hide-and-seek with their pricing.

Let’s talk about Dan, a small business owner I’ve known for decades.  

Dan runs a business manufacturing building material. A pretty standard product in a competitive industry. His product isn’t something you needed much of a sales pitch for – you either need it or you don’t.  

For decades, Dan followed the unspoken rule: never list prices on the company website. None of his competitors did it, so he didn’t do it, either. After all, he didn’t want someone swooping in with lower prices and stealing his customers. 

But one day, while trying to find ways to help his sales team handle the endless stream of customer calls, Dan had a revelation.  

He realized a huge chunk of those calls were simply people asking about prices.   

So, Dan took a leap of faith. He decided to break the mold and put his prices right there on his website.  

He figured, “If competitors want to undercut us, let them. We’re not winning on price alone anyway.” 

The result? Surprising and rewarding. 

As Dan expected the number of calls from people simply asking about prices dropped dramatically. No more tire-kickers wasting his team’s time. 

But what he didn’t expect was the surge in new business.  

When Dan added pricing to his website, his search engine rankings skyrocketed. Turns out, a lot of people were searching online for the exact products he sold, specifically looking for pricing information. And since his competitors were all keeping their prices secret, Google sent those searchers straight to Dan’s site. 

Suddenly, Dan was getting emails and calls from contractors all over Canada, even from the US. He was busier than ever, leading to more hires and continued growth.  

I share this anecdote because one of the things we see time and time again in digital marketing is a reluctance on the part of many companies – particularly those doing B2B – to put anything resembling pricing on the website.

In my experience, the standard arguments against price transparency are as follows: 

1. “If I show my prices, my competitors will just lower theirs to steal my customers!”
2. “I need to talk to customers to explain the value behind my prices.”
3. “Every project I do is unique, so it’s impossible to put a standard price tag on my services.”
4. “If people see my prices upfront, they’ll run for the hills!”
5. “Nobody else in my industry lists their prices. If I do, it’ll ruffle some feathers.”
6. “I want to build relationships with my customers, so I need them to call us.”
7. “My prices change all the time, so it’s not practical to keep updating my website.”

All of these are completely valid concerns, and I’m going to address them one-by-one momentarily.  

But first, I want to talk about the reasons for price transparency. Because I firmly believe that the benefits of listing pricing on your website (or at least a ballpark figure or ‘starting at’ price) far outweigh the drawbacks in most cases.

The Case for Price Transparency: It’s More Than Just Numbers!

There are three huge advantages of being upfront about your pricing

1. Price Transparency is Outstanding for SEO

Many of the most popular search terms for any given product or service are directly related to pricing.  

Think about how you search for things online. When you’re interested in a product or service, you probably include words like “cost,” “price,” or “rates” in your search query.  

If your website doesn’t mention pricing at all, you’re missing out on a massive on-page SEO opportunity to attract potential customers who are actively looking for this information.

2. Trust is the Cornerstone of Good Customer Relationships

Being upfront about your pricing builds trust with potential customers.  

Customers value transparency. They don’t want to waste their time contacting a company only to find out the price is way outside their budget. 

You’re showing them that you respect their time and that you have nothing to hide. This builds credibility and makes them more likely to choose you over a competitor who’s being secretive about their costs.

3. Pricing Helps Customers Decide (and Decide Faster)

The customer journey is a process, and a part of that process is price research. 

Even if someone isn’t ready to buy right away, they might still be interested in your pricing. They could be in the early stages of research, gathering information to create a budget or compare different options. Helping them make informed decisions by way of price transparency positions you as a helpful resource and a trustworthy supplier. 

Why Price Transparency is Nothing to Be Afraid Of

The market is tough and breaking with tradition is daunting. But when you look deeper into some of the most common concerns about price transparency, it becomes clear that the benefits outweigh the drawbacks. 

Here’s my take on each of the common objections: 

1. “If I Show My Prices, My Competitors Will Just Lower Theirs!”

This is a valid concern, but let’s be realistic. Chances are that your competitors already have a pretty good idea of what you charge. It’s incredibly easy for them to pose as a potential customer and get a quote. 

Plus, customers talk. They share their experiences, including pricing, both online and offline.  

Have you ever searched for reviews of a business and found people discussing what they paid? It happens all the time. When you don’t list your prices, you’re missing out on controlling the narrative. 

Transparency builds trust. If a potential customer sees that you’re upfront about your pricing, they’re more likely to see you as honest and trustworthy, even if your prices are slightly higher than a competitor’s.

2. “I Need to Explain the Value Behind My Prices.”

We hear you. Your pricing reflects the exceptional value you provide, and you want to ensure potential customers understand that. But hiding your prices isn’t the solution. 

Instead, let your website do the talking. Use clear, compelling copy to explain your value proposition.  

Highlight the benefits of your product or service, the problems it solves, and the unique advantages you offer. Show potential customers why your pricing is justified. 

If your business relies heavily on personal relationships and rapport, consider adding videos or webinars to your website. This allows potential customers to “meet” you virtually and get a sense of your personality and expertise before they even pick up the phone. It’s a great way to establish a connection and pre-qualify leads, ensuring that when someone does reach out, they’re already invested and understand the value you bring. 

Effective communication is key. Showcasing your value and building rapport through your website justifies your pricing and attracts customers who appreciate what you offer. 

3. “Every Project I Do Is Unique.”

It’s true that not everything fits neatly onto a price tag. But even with highly customized offerings, there are ways to provide potential customers with valuable pricing information:

• Start with a Baseline. Mention a starting price or a price range to give visitors a general idea. You can add a note explaining that the final price will depend on their specific needs and choices.
• Showcase Past Projects. Share examples of previous projects you’ve completed, along with their associated costs (anonymized, if your customers don’t want that information out there.) This allows potential customers to see real-world examples and get a sense of how your pricing scales with different levels of customization.
• Offer Interactive Tools. Consider adding an online calculator or configurator to your website. This allows visitors to select different options and features, seeing the price adjust in real-time. It’s an engaging way to demonstrate how customization impacts the final cost and empowers potential customers to explore their options.

The goal is to provide enough information for potential customers to make an informed decision about whether to contact you for a more detailed quote.  

You don’t have to reveal every pricing detail upfront, but giving a ballpark figure or a sense of how your pricing works goes a long way in building trust and attracting the right leads.

4. “If People See My Prices Upfront, They’ll Run for the Hills!”

If a potential customer is solely focused on finding the cheapest option, do you really want them calling you in the first place? These price-sensitive customers are just going to jump ship if they find a slightly lower price elsewhere. 

Listing your prices acts as a helpful filter. It allows you to weed out those who aren’t a good match early on, saving you and your sales team valuable time and effort.  

Instead, you’ll attract customers who understand and appreciate the value you provide, even if it comes at a slightly higher price point. 

You’re not just selling a product or service – you’re selling a solution, an experience, and a relationship. Focus on attracting customers who value those things, not just the lowest price tag.

5. “It’ll Ruffle Feathers in my Industry.”

Let’s be honest – this one’s a bit of a non-issue. You’re not here to please your competitors. You’re here to serve your customers and grow your business.  

If your competitors are upset because you’re being transparent, that’s their problem, not yours. 

Focus on what’s best for your business and your customers. If being upfront about your pricing helps you attract the right clients and build trust, then it’s a smart move, regardless of how your competitors feel about it.

6. “I Want to Build Relationships with my Customers.”

While it’s true that withholding pricing can prompt inquiries, it doesn’t necessarily lead to quality leads.  

You might end up spending a lot of time on the phone with people who aren’t a good fit or can’t afford your services. 

Instead of using pricing as a bait-and-switch tactic, focus on providing valuable content and resources that genuinely attract potential customers. Offer free webinars, demos, or other lead magnets that showcase what you offer and provide solutions to their pain points.  

This helps you build an email list of interested prospects and establish yourself as a thought leader in your industry. 

You can nurture leads and build relationships without relying on the mystery of hidden pricing.

7. “My Prices Change All the Time.”

We understand that fluctuating prices can make it tricky to keep your website up to date. But don’t let that stop you from being transparent. There are solutions:

• If your prices change frequently based on factors like inventory, demand, or even competitor pricing, consider implementing a system that automatically updates your website in real-time. This eliminates the hassle of manual updates and ensures your customers always see accurate information.
• Even if you can’t automate everything, use clear language on your website to explain that prices are subject to change. Be upfront about the factors that influence your pricing, like seasonality or fluctuations in raw material costs to manage expectations.
• If exact prices are constantly in flux, consider listing a “starting at” price or a price range. This gives potential customers a general idea of what to expect while acknowledging that the final cost may vary.

Tip: Make it Easy on Yourself with the Right Tools!

A user-friendly content management system (CMS) like Webwizard can make updating prices on your website a breeze. It’s a great option for businesses that need more flexibility than a simple online store platform like Shopify, but still want to showcase their products or services and their associated costs. 

Exception: Regulatory Restrictions

Sometimes, regulations might prevent you from displaying prices directly on your website. Industries like healthcare, legal services, and financial services often have specific rules about advertising pricing. 

If that’s the case, you’ll need to get a bit more creative with your marketing:

• Focus on showcasing your expertise, building trust, and offering valuable resources to potential customers.
• Consider using testimonials, case studies, or detailed service descriptions to highlight the value you provide.
• You can also offer free consultations or assessments to start building relationships with potential clients.

If you’re in a regulated industry and unsure how to navigate these restrictions, don’t hesitate to reach out to us! We have experience working with companies in several regulated sectors and can help you develop effective marketing strategies that do it by the book.

Price Your Products or Services with Intention

So, the answer is a resounding yes: you should absolutely list your pricing whenever possible.  

But don’t stop there. Take the time to really understand how your pricing affects buyer behaviour.  

There’s a whole field of study dedicated to price psychology, exploring how even subtle changes in pricing can influence purchasing decisions. 

For example, did you know that ending a price with .99 can make it seem significantly lower than a rounded number? Or that offering three pricing tiers can guide customers towards the middle option? It’s fascinating stuff, and it can have a real impact on your bottom line.  

We’d love to delve into this topic in a future blog post, but for now, we recommend checking out this great article from HubSpot on the psychology of pricing. 

Take that leap of faith and add your pricing to your website. You might be surprised at the positive results. 

And if you need help navigating the process or have any questions about pricing strategies, don’t hesitate to reach out to us. We’re here to help.