"A potential customer reaches out to your account or customer service team to inquire about your product or service. After discussing the features and benefits, the conversation often shifts to pricing. Your sales team prefers the term "cost" because it sounds more appealing and justifies the impressive features and benefits highlighted on your website and in your sales literature. However, complex and convoluted pricing structures can often deter customers."
"They want clarity from the beginning. How much will they spend, and what value will they receive in return? I have never sold or offered the "cheapest" or "lowest priced" service or product, nor do I intend to. I am motivated by delivering value, which I believe results in a higher quality customer experience. As a seasoned entrepreneur, I recognize that pricing products and services is not always straightforward."
Customers demand clear, upfront pricing and tangible value; convoluted pricing erodes trust and deters purchases. Prioritizing value over being the lowest-priced option produces higher-quality customer experiences. Accessible, well-trained sales and customer service teams that ask the right questions can guide buyers to appropriate options while emphasizing benefits. Implementing tools such as instant pricing calculators reduces friction, increases transparency, and improves conversion and revenue. Industries with complex bundles, such as cable TV, provide clear examples of how opaque pricing creates customer frustration, runaround, and weakened relationships with potential and existing customers.
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