As a construction company, have you ever asked yourself why you need to be so cloak-and-dagger with your prices?
It’s almost like you’ve got a secret that your prospective customers are going to have to work hard to discover – because surely if you tell them upfront, they might just run away screaming, right?
And then there’s your competitors – when they learn your prices, they’ll instantly try to beat them, won’t they?
You may not think so now, but there’s a very good reason for being transparent with your prices. In fact, not doing so could actually be hurting your business.
Having gone through the same process time and time again with many of my inbound marketing customers, I decided it was finally time to explain the importance of price transparency in a blog post.
Why showing your prices is so important
Okay, so I know the idea of displaying your prices online for all to see can take a bit of getting used to, but just hear me out: People want to know what things cost!
And they’re going to find out anyway – it’s just a matter of when.
Imagine Fran – a potential customer – is browsing your website, and is pretty much ready for her garage conversion or conservatory. There’s just one thing she needs to know; the price.
But she can’t find it.
In this digital age, we expect information to be at our fingertips, yet all she can find is vague details alluding to prices, with no actual figures or price ranges in sight.
Fran gets frustrated. No-one wants to feel like they are wasting their time, and she’s doing all this on her day off. So she leaves, and finds what she’s looking for elsewhere.
Maybe she even walks right into the arms of your competitor, because they appear to have nothing to hide.
The benefits of transparency
Maybe by now you’re beginning to come round to the inbound way of thinking, so let me tell you some more about the benefits of being open about your prices.
1. You’re telling them what they want to know
And they WILL want to know what your prices are if they are going to consider buying from you. Even if you can’t tell them your exact prices (because it varies from job-to-job), you can still:
- Give them a range of what to expect for each type of job
- Talk about what can affect the price, including delays and complications
- Perhaps even provide a way for them to work it out themselves, such as a handy calculator
2. They’ll see you have nothing to hide
As I’m sure you probably know, not many construction companies are brave enough to show their prices. Therefore, being the only one to be upfront and direct about pricing will really set you apart and make people appreciate your honesty and trust you much more easily.
3. You won’t waste time on unqualified leads
If you don’t tell someone your prices, how will they know if they are going to be able to afford your services? The simple answer is; they won’t. So you or your sales team will end up wasting time chasing unqualified leads, when you could be doing something much more productive.
4. Search engines will favour you
If you’re the only construction company in your area willing to talk – and actually go into detail – about prices, search engines are going to notice. So when people type in something like ‘garage conversion prices Edinburgh’ into Google, who do you think is going to show up? If you do it right, it’ll be YOU.
5. No nasty shocks
Prospective customers come into the conversation fully prepared and willing to pay the prices that you’ve advertised. So, when the time comes to give them a quote for their home extension or attic conversion, they won’t be suddenly put off with a nasty surprise.
Worried about your competitors?
If you ARE worried about your competitors, rather than your customers, ask yourself why. Perhaps you’re worried they’ll see your prices and try to beat them?
Just think: how many customers have your competitors ever gotten you? So, stop worrying about them.
Maybe you already know for a fact that their prices are lower. In which case, what you really want to focus on (as well as displaying your own prices) is the value that you can provide.
There’s probably a reason your prices are higher. Perhaps you use higher quality materials, or employ better qualified tradesmen? Maybe you’re able to guarantee a job is done on time, every time, and if not then customers can receive a certain amount of cash back for the job.
Whatever it is that sets you apart from your competitors and makes you stand out, be sure to demonstrate it just as clearly as with your prices. Remember, your best customers are interested in the value they receive, not just who can do the job the cheapest.
There’s no need to keep your prices a secret – in fact, it could be hurting your business to do so. These days, if people can’t find the answers they’re looking for, they’re likely to go and look elsewhere.
Here are just some of the benefits of being transparent with your pricing:
- You’re telling them what they want to know
- They’ll see you have nothing to hide
- You won’t waste time on unqualified leads
- Search engines will favour you
- No nasty shocks
Remember, the trick is to separate yourself from your competitors. If your prices are higher, show WHY they are higher by demonstrating the value that your construction company has over any other. Whether it’s better quality materials, highly-skilled tradesmen or a guarantee the job will be completed on time, every time, show it.