A question I get asked a lot is whether you should put prices on your wellness website. And the short answer is, wellness website pricing depends on your experience, confidence in your fees (if you’re starting out or not) and how you onboard your clients.
But putting prices on your website is not for everyone! On one hand, when you don’t have your prices on the site, there will be more customer engagement as they will send inquiries about your pricing. But on the other hand, you might have to deal with higher customer acquisition cost and wade through a lot of people who can’t afford your services.
So then it becomes a question of whether you should disclose prices immediately and then be limited to a set price you have to negotiate from. Or, do you want to have more flexible pricing and decide on a case-by-case basis on what you’re going to charge which takes considerably more admin?
Let’s take a look at the benefits and drawbacks of having wellness website pricing for everyone to see. Because it turns out there’s more to pricing than just being informative.
Benefits of Wellness Website Pricing
#1 It’s a great filter
Putting pricing directly onto your website helps you qualify leads. You see, not every lead is worth the same to you, for example, someone who is ready to buy your products or services immediately are of higher value, and those who need to be nurtured or are just curious are of lower value.
Putting a wellness website pricing page will immediately filter out people who are not serious about buying just yet or aren’t ready to commit. Since your pricing should bring you a decent margin from each customer, you are automatically removing those who are price shopping and focusing on the price point as their primary concern.
It’s a great way to reduce the amount of time you’re wasting with prospects who were never going to buy anything in the first place. Without the price list, you may spend a lot of time and resources trying to convert leads who are only interested in the cheapest pricing.
#2 Shows the brand integrity
Personal branding is all about trust, and for many consumer types they appreciate transparency when it comes to pricing. This is where truly knowing your brand audience and nich helps you because you’ll be able to tell whether simple and transparent pricing will actually help convert your audience and make the decision for them.
Because ultimately, there’s nothing more trustworthy than being fully up front about pricing and having no hidden fees.
#3 Shows you know YOUR value
Being open about your pricing demonstrates you’re not afraid to show how much your services are worth and the value they bring to others.
Don’t fall into the trap of thinking about it in terms of being ‘cheap’ or expensive. Remember, you should charge based on the value for all the years you’ve put into your professional development, developing your strategies, creating your brand, and investing in it. All of that is part of the price and your unique selling proposition to your audience.
Putting your pricing on your wellness website, even if you’re not the cheapest can go a long way to showing confidence in your VALUE!
#4 Your discounts make sense
How can prospects be sure that your discount is genuine, and not just your regular price masquerading as a bargain deal if you never reveal your pricing in the first place? Unfortunately this is a common tactic by underhanded service providers who will only ever market their ‘discounted’ rate!
If you’re planning to run online promotions or specific sales funnels, it’s always best to have your base pricing on there which makes the discounts more appealing and genuine.
Drawbacks of having pricing on your website
Can wellness website pricing pages have negative consequences too? Could it deter some prospects from contacting you? What pitfalls should you expect? Let’s look at those now…
#1 No wiggle room for price increases
While transparency is the obvious benefit, you can’t expect people to support your decision to increase your pricing – unless you give them a very good reason to support you.
As you are growing your business and building your success, you’ll be investing more and more into your growth and education, your strategies, your studio, and you might hire additional staff members to help you with daily tasks. And as your success grows, so do your costs.
The problem with this is that it’s very hard to justify or persuade people to pay a larger price than they have seen on our website because they will have set the expectation of cost. In this case you need to be able to show a huge value increase from what is on your website otherwise you have nowhere to go.
Top Tip: Be upfront with customers when you need to increase prices. Decide on the best way to do this. For example, you can keep existing customers on your “legacy” packages for a period of time and do a slow phase-out. Keep them in the know, explain your thought process, and highlight what additional benefits they will get for the higher price point (of course, make sure they actually get something for it!).
#2 Can cause issues if you have flexible pricing
When you have super flexible or variable pricing for each of your services, putting it on the site won’t help your customers with decision making. In fact it can make it more confusing and big fluctuations can deter prospects.
You’d also have to waste a lot of time trying to explain why you’re charging some of them so much for what they perceive to be the same package. If the same service costs between $50 and $450, how do you decide who gets charged more or less?
For such instances, it might be better to keep your pricing out of your website, or have service prices as “Starts from” instead of putting a limit on the top.
#3 It doesn’t work if you don’t know your audience
If you put the price too high, people will just look for someone who’s in their price bracket, but if you put the pricing too low, people will assume that you are inexperienced or that your services lack quality. Pricing that is actually too low and people get suspicious because we’ve all been told to be wary of ‘too good to be true’ offers.
Without researching your audience and knowing their income range, you’ll have a hard time determining the willingness to pay (WTP) amount – the maximum amount they would pay for your services.
Consumer research can help you reveal this metric, along with many others that you’ll need to accurately determine the price, such as customer acquisition cost and customer lifetime value, which will help you decide which prospects will be your hottest leads.
#4 Your competitors can play the undercut game
Having prices readily available for everyone to see also makes them easy to locate for your competitors. When the industry is so highly competitive, like health and wellness, you might be tempted to hide this piece of information from the competition so they can’t undercut you every time you’re being compared.
But this is not the proper way of dealing with the issue. There will always be competitors who will use “dirty tricks” to try to snag customers away from you. The best way to deal with undercutting? Don’t base your marketing on the price point because it’s not a good value proposition.
Focus on quality and customer experience instead. People are more than willing to pay more if they get outstanding services for their money. As a bonus, your competitors won’t be able to compete so easily with you when you move away from the “cheapest option” market position.
#5 Potential conflicts with clients
When you put your pricing into neat packages, you run the risk of having to deal with a client who needs a more custom approach and services that are outside of the scope of services of the package they purchased.
This can create conflicts when you need to charge extra, so I suggest having an “Add-on” price list with all the prices for every service you offer if you choose to go down this route. It will act as a sort of “build your own service pack” option.
How to decide if putting prices on your website is right for you
It’s difficult to make a blanket decision on pricing on your website but I would suggest the following:
- Research your target audience (even poll them) and discuss whether they respond to transparency or are very price sensitive. If yes to either, put your prices on there.
- Then, take a look at your own services and how ‘neatly’ they can be packaged. If you offer one particular type of service, or something that you’re happy to charge by the hour, then quantify it into packages.
- If you are highly experienced, have easily scalable systems in place or processes you have refined to get the most out of your revenue, and you know your pricing isn’t going to change. Add a pricing page.
Outside of this I would suggest anyone starting out, building, or who has many services that are difficult to quantify you should avoid a full pricing page which can lead to a lot of issues for you in the short-term. That said, if your heart is really set on a wellness website pricing page, use looser ‘starting from’ pricing instead!
Need help with your custom pricing page? Get in touch and I can help you identify your ideal customers and tailor pricing points that they will happily buy.