23 Mar Pricing & Cost Content for Building Product Brands
Less than a quarter of 272 building product brands recently studied by Path Velocity share some form of pricing or cost related content on their website. As we all know from our own buying behaviors and experiences that pricing and cost information is one if not the most important type of content sought during the purchase process.
Many building product brands feel they cant share this key data because of the complexity of their product, they don’t sell direct, related channel requirements, or they just don’t want buyers to have this information until they have made the appropriate contact or completed some form of qualified lead process. Basically, the brand and/or their sales channel wants to maintain control over the buyer and sales process as they may have done in the past. But those days are over. Buyer expectations and requirements for all levels of information have been changed by other product categories and brands that readily disclose pricing and cost related content. How often have you reviewed a product or service and been frustrated that you can’t find some simple pricing or cost information on their website? Or worse you are forced to provide your contact information and then speak with a salesperson to get some basic ideas on price or cost. Today a growing number of buyers won’t go through this effort and hassle. They want the same immediate access and availability of pricing and cost information they enjoy in other product categories. If not they either consider and purchase brands that share pricing/cost data or they make their own assumptions (which are typically wrong) on what a brand or product may cost. The brand either doesn’t get considered or is possibly dropped from the list because of inaccurate assumptions by the buyer. For building product brands that can’t share actual retail or direct pricing, there are alternative creative ways of giving buyers what they need. These can include using relative scales such as dollar symbols or price categories that compare one brand or product vs another. Another approach is total project estimates (which can be in the form of an interactive tool) that give buyers an overall estimate or range of project costs beyond just the brand’s pricing. Contact Doug Breuer at firstname.lastname@example.org to get your copy of Path Velocity’s free 68-page benchmark report on Website Content & Building Product Brands.