This comes up all the time when I work with clients on pricing & packaging services.
My answer? I used to say “It depends” because there are pros and cons to both.
Now I say an emphatic “Yes!” because it’s how you declare what you stand for … and it all comes down to OWNING your value and knowing your community.
OWN Your Value
Pricing is set by you, value is determined by your potential clients. For you to set prices that convey the value of the service, product or program, you must be intimately connected to the impact it will have on the people who invest in it. When you OWN it, displaying your prices becomes something you’re confident about because you’re confident about the solution (aka the result) you offer.
Know Your Tribe
These are your peeps – - your most ideal clients, the one’s you’re ideally suited to serve, the ones you love to work with and who love to work with you. What are they looking for? What keeps them up at night or consumes their every waking moment? What do they value most? What problems do you solve for them? If you can answer these questions confidently, then you can openly display your prices and fees on your website – - without anxiety or fear.
We make decisions based on emotion and justify it with logic.
It’s not in the what, but the how …
… lead with value – first, second and last – it’s always about showing the value of what you offer. This takes you back to knowing your tribe and owning the value of what you offer – your solutions.
Communicate that value to your prospective clients in the copy of your offer (your product, program or service), connecting with them emotionally (understanding their problem, showing how good it will feel when they get it solved) so when they get to price, they can justify it in their own minds using value logic.
You, as the expert and leader in your business, should never put yourself in the position where you feel you need to justify your prices. If you do, you could use a little TLC in owning your value.
Yes, I feel very strongly about this. Owning your value is foundational in your business … and it will directly (as in straight as an arrow directly) affect your ability to charge what you’re worth in a way that feels good and values the amazing work you do.
Aside from the reasons I just talked about, there are a few more important things to consider when deciding to confidently display your prices:
- You honor and respect your potential clients when you openly show their investment for engaging your services. You show you recognize that they’re quite capable of making the decision that’s right for them and don’t need coaxing from you.
- Often NOT displaying your fees and requiring a “consult” session first will leave potential clients feeling like you’ll try to sell them. No one likes to be sold. However, I do recommend that you have a conversation with potential clients before they enroll in your high-end programs – you’re both investing in this relationship so it’s a good idea to make sure you’re a good fit for each other … first!
- It’s not your place to decide if your clients can afford your services or not. It’s their decision. Displaying your prices gives them a reference point to make it happen. If they need to save or budget, they now know where they stand. I often hear, “I’ve been thinking of working with you for some time and I’m putting the funds together so I can.” If a potential client wants to work with you, they’ll find a way.
- On that note, when you don’t display your prices, potential clients may assume that your prices are way out of their budget, missing out on a opportunity for both of you.
- You filter out the price shoppers and tire kickers. Let’s be honest here … when it comes to sharing your valuable time with clients (and potential clients), do you want to work with those who are tentative and not quite sure about working with you, or those that are fully invested and show up excited to work with you? Hope you said the latter.
- It shows your leadership. People want to work with you because you are leading them to a result they want. Displaying your prices (when you show the value you provide) presents you as a confident leader, someone they can trust.
If you have a custom or specialized service that is by quote only, give your prospective clients a price range so they know what to expect.
Displaying your prices & fees on your website shows you stand behind your offers. Period! And yes, I do display my coaching and mentoring fees on this website. Are you inspired to do the same?