I have been asked this question a couple of times whether or not my clients should have advertising or a page on their website showing their prices. For people who are selling products showing their prices is a common practice and can be determined based on their cost of goods and also how the market is selling their products or ones similar. Their prices are consistent and stay the same from customer to customer and rarely change until their competition raises or lowers their prices or their cost of goods go up or down in price.
Unfortunately pricing can be a bit more complicated for those businesses who sell a service rather than a regular product. The debate on whether or not to show your prices depends on if your industry is showing their prices and if you have consistency in your service’s price. If other people in your industry (like your competition) is showing their prices either in their store or online then that is a good indication for you to also show your prices as well. In most cases if your industry is showing their prices chances are your customers expect the same from you.
However even if your industry is giving out their prices there is another factor to consider when making your decision, having consistency in your pricing is also a very important factor. If your price for services is consistent among your customers and you can guarantee to do the work at that same price each time then you can show your prices in your business. Nevertheless If every project is different and your prices vary from person to person than you should not give out your prices publicly through advertising and online.
A good example of this is my graphic design business, I do have a rough estimate as to how much it costs to do certain design tasks like logo design or creating websites, however my clients all have different needs for me as a designer. One client might need a simple logo designed and another client might need the same thing but the logo has to be reviewed through a large committee before it is approved. Each client I work with has a different set of goals that I need to help them with and because of that reason I do not have a consistent price that I can show on my website or in advertising. This is also the case for my industry and most graphic designers also do not show their prices but instead base them on the client’s specific needs and budgets to come up with the best solution for them.
On the other hand having your prices on your website or in marketing is a universal practice in the photography industry. With my photography clients there is consistency there in my prices and while all of my photography clients are unique and have different visions their sessions can be done within a certain package that they want. My photography packages are mostly dependent on the number of people, time, location changes and number of photos taken rather than having specific projects that need rendering like graphic design. In most cases there is a sense of consistency for the photo shoots itself that allows me to give my prices online. If a client has a certain request or wants more photos taken than those can be added to their packages.
As you can see the decision to show your prices for your business can be determined in two ways; the first is if your industry shows their prices or not and the second is if you have a consistent service you can offer that is the same for each of your clients. Showing your prices is a good way to attract the right customers to your business but if you do not have a consistent price then you should estimate your prices based on the needs of each of your clients’ specific needs. Price can be a difficult thing to determine but trust in your business’s abilities and know that you can be a valuable asset to your customers.