How B2B Tech Companies Can Create A Helpful Pricing Page (Without Revealing Their Pricing)

5 min read
Jun 29, 2023 6:52:44 PM

As a buyer, making a large purchase decision, like buying a new car or deciding on which home insurance provider to go with, can feel very overwhelming. We want to make sure that we are making a financially sound decision that won't leave us with the bitter taste of regret later.

One of the first things we as buyers often research is cost. Can we even afford what we are looking for? We want to make sure we get our money's worth and won't overpay. Pricing often helps us gauge the value and worth of something (leading us to adjust our expectations) and guides us down the right research path.

But there is one thing that is really frustrating to us as buyers, and that is when a company doesn't share their pricing information. What's even worse is when they put a "pricing" page on their website and it turns out to be a clickbait "Request a Quote" page! Is there anything more annoying?

Talking About Pricing Is Scary For Most B2B Tech Companies

As a marketer, though, I get why it can be scary to talk about your pricing on your website. You are scared that you might send some buyers running with sticker shock before they have talked to sales and have understood the full value of the product. Or you fear that your competition will find out what you charge. Or you don't want to bother because your services or products are so complex and customizable that you need to provide each buyer with a custom quote. 

Over the past 12+ years, I have helped dozens of B2B technology companies and other businesses address their pricing on their websites. Since I work mostly with B2B technology firms that sell highly customized solution packages to enterprises, I will also show you how you can explain your pricing to your prospects without having to put your price list online.

Why You Need Pricing Information On Your Website

Let's start with the obvious. Just as you do when you are the buyer, your prospects are looking for pricing when researching your solution. For many (some studies suggest up to 60%), pricing is the first purchase criteria. However, almost all buyers will compare pricing before making a final decision.

In other words, regardless of your industry, who your buyer is, and how they make buying decisions (e.g., in a buying committee), pricing information is an absolutely crucial piece of information your prospects must have to move forward.

Now, you have a choice. They can obtain this information from you or from your competitor, but a matter of fact is that someone looking for pricing will move on very quickly — usually within 5 to 10 seconds — if they cannot find it.

61% say that if they don’t find what they’re looking for within about five seconds, they’ll go to another site. [Forbes]

As a buyer, how does it make you feel if a company (who clearly knows what they charge for their products and services) isn't open about their pricing? As buyers, it makes us feel like they are hiding something, right? And if they are hiding something, that makes us feel not only frustrated, but also like we cannot trust them. And, in the end, it all comes down to trust!

Now, if you don't talk about pricing on your website, buyers will leave and go to a competitor. And what do you think will happen when they find a competitor that does explain their pricing in an upfront, transparent, and hassle-free way? That's right, they will likely give your competitor their first call, if not their business.

Finally, if your buyers don't understand the value of your product or services (because you haven't explained it to them), they are likely to go with the cheapest option. 

The 3 Biggest Objections To Talking Openly About Pricing 

There are three main objections we always get when we first start talking about addressing pricing publicly:

Every solution is different!

The first objection I get a lot (especially with B2B technology companies) is that their offering is customized for every client, so creating a pricing page is impossible. While I understand that it probably won't be possible to put dollars and cents on your website, you can explain what goes into your pricing, what makes the price go up or down, what to expect regarding pricing within this space, and where you are on that scale (see below).

I will scare potential buyers away!

Another concern my customers often have is that they might scare potential customers away by putting pricing on the website. They feel very strongly that a prospect cannot understand the value of the product and will get sticker shock. To avoid that, they are convinced that the lead must call a sales person first who, after running them through a demo and pitching really hard, will deliver a custom quote. 

However, if you explain your pricing in the way I will show you below, your prospects will understand the value you offer and how you compare to your competitors. And if you are still out of their price range, then self-selecting themselves out of the buying process is a good thing as you won't waste time trying to sell to an unqualified buyer.

My competitors will know my pricing!

Thirdly, some customers are worried about their competition knowing what their pricing looks like. But, let's be honest, do you know what your competition is charging? Generally, you have a pretty good idea. Conversely, your competition probably knows what you are charging as well. So, this big secret non-secret shouldn't hold you back from putting your pricing on your website (and forcing you to leave money on the table).

How To Address Pricing When You Can't Talk About $

By now, you know that you should have a pricing page (that isn't a "Request a Quote" page in disguise) even if you cannot put your pricing information on there in dollars and cents. Here are five ways you can address pricing safely:

Explain What To Expect Regarding Pricing Within Your Industry/Niche (Average Industry Price)

For most buyers, it will be the first time or a rare occasion that they need to learn more about the cost and price in your industry. Explaining what to generally expect when researching pricing will provide you with an excellent opportunity to:

  • Explain how pricing in your industry works,
  • Give average prices for a solution category,
  • Explore why some competitors are more expensive than others,
  • Describe how to determine value, and
  • Point out any pitfalls (e.g., hidden costs) buyers need to know about.

A great example of this is an article by MiaRec called "How much does Call Recording and Voice Analytics cost in 2023?"

Explain Where You Are On The Scale

Now that you have explained average industry prices and what to expect, identify where you fall within that range.

  • Are you upper, mid-, or lower price range?
  • How do you compare to your competition?

Explain What Goes Into Your Pricing (Cost Determining Factors)

Often, it is crucial to explain what the determining factors are for your pricing to explain value and worth.

  • Are you using better (and more expensive) technology or raw materials?
  • Have you found ways to cut costs without sacrificing quality?

Explain What Makes The Price Go Up Or Down (Cost Variables)

Lastly, highlight why costs can go up and when they go down to give your prospects a sense of how their choices affect pricing.

  • Are there certain options or add-ons that will increase the price?
  • Are there optional components that could be left out to reduce cost?

Add Context & Answer Common Pricing Questions

To finish off, be sure to answer any commonly asked questions, like:

  • What licensing models are available?
  • Are there any discounts available for upfront or annual payments?
  • When do you consider a license consumed?

In conclusion, if you don't already have a pricing page on your website, add one as soon as possible because buyers research pricing, and if they cannot find it on your site, they will move on to your competition. Never disguise a "Request a Quote" landing page as your pricing page because it is very annoying and frustrating. Finally, even if you cannot disclose your full pricing list, there are ways to talk about pricing that give your buyers a general idea of what to expect — which is what they are looking for anyway. 

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