One trait I have observed about successful companies on the Internet is the simplicity of their pricing. It’s a competitive advantage to make the choice of 3 options; so easy to understand. Benefits for each option clearly communicated. Of course what you sell; product or service, has a lot to do with how well you can apply simple and clear pricing. But it’s in any company’s interest to think it through.
Steve Boyer, from our team here at UB, was at a festival this past weekend when he and his brother noticed the sign above at a dunk tank. I am in agreement with him that surely the festival folks meant to say “1-Ball $1, 5-Balls $3”. But then again, who knows? Maybe they did mean it and didn’t think it through.
Some companies choose to not publish their pricing. And that is definitely an option. It all depends on the pricing strategy and/or business model. They may be attracting a client that isn’t interested in a one-size-fits-all pricing model. But that’s a marketing decision at that point.
Because we do publish standard pricing and knowing we have to grow in this area, we are looking at our pricing to make it as simple as possible. Whether you are talking small, medium, large | good, better, best | silver, gold, platinum – the idea is to clearly communicate and tie benefits to each option.
Like the dunk tank sign above, whatever pricing strategy you take, just make sure it doesn’t make your potential clients tilt their head and say “Huh?”