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Displaying prices on website - good or bad idea (psychologically)?

by Futurefox
1 replies
Dear Warriors,

I am a freelance musician and in the process of starting a career as a music producer. While it's much easier for me to cover the creative aspects of my job, I am very aware of the business/marketing side.

So, consumer psychology is nothing new to me - I have always taken great care when advertising my bands, writing press texts and generally try to not sell only music but rather an atmosphere, a feeling.

When I listened to an interview with Joe Sugarman today I realized how much I actually have in common with guys like you - thats why I came here for, looking forward to the exchange and learning.

My first question might be a simple one:

Is it always better to be upfront with your rates or does it make sense to wait until contact is already established?

My thoughts:

a) Prices clearly stated (music schools, recording services):

PRO: People that contact you have already accepted your rate, money is (for the moment) out of the way.
CON: If you're not offering the cheapest rate in town, people that don't really know you might be turned away. Plus: Not being able to charge 'more', when customer has the background.

b) Prices not visible (Most freelance audio professionals' websites)

PRO: Possibility to first create a connection between artist and producer, pulling her a bit into your world and the benefits of working with you and your skills.
Possible to adjust prices to the clients background (big company vs. single person)

CON:
1. Feels a bit awkward to wait with the money talk, since its actually very important and could lead to a change in the atmosphere between producer/artist (Artist unhappy because too expensive after all this nice talking / or worse: producer starts to make special deal because he likes the artist and regrets afterwards).
(added later) 2. People might not even contact you for prices (too much effort) and move on to the competition.

How do you handle pricing communication and what do you think is the golden way?

cheers, thanks for your opinions
Tobi
#bad #displaying #good #idea #psychologically #rates #website
  • Profile picture of the author Mark Pescetti
    I find it fascinating when Money Speak topics come up.

    Just yesterday...

    A bunch of copywriters got together for a chat on Patrick Brown's blossoming Skype group.

    Some of the writers were wondering how to "remove themselves from the price conversation."

    Here's the deal:

    If you have the ability to communicate MASSIVE value, and prove it, then why not display your rates?

    On the flip side...

    If you don't actually have the talent to demonstrate your worth when the cards are down, charge whatever it takes to get people in the door.

    I've personally played around with this and tested different approaches.

    I display my starting rates. And I make sure people look at the price page - before I engage deep in conversation with them.

    Now...

    I don't have the profit-producing track record that some a-list copywriters command, but my overall stats are pretty solid. I know my worth... and I have NO problem asking for it.

    I'll tell you this:

    If you have a charge about how much you ask for your services, you're going to attract clients into your business model that will push your insecurity buttons.

    From a pure business standpoint...

    If your rates fluctuate a lot - depending on what's needed, just do what I do and make sure prospects know they're looking at your starting prices.

    Transparency is a good. I give it, because that's what I expect in return.

    Mark

    P.S. To exit the just another commodity conversation, you have to prove you're the authority. Build a brand that draws prospects into your vision and they'll pay you whatever you're worth - IF you can dramatically communicate the value you bring to the table.
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