One of my great colleagues from VAnetworking.com, Candy Beauchamp, has recently launched an informative website for virtual assistants, aspiring VAs and people who want to hire a VA. Visitors are encouraged to submit a question, which will be answered in a two-minute video clip.
This week I had the opportunity to answer the question, “Should I post my rates on my website?” I gave several reasons in favour of posting rates, Lanel Taylor gave the opposing view, and it resulted in some very interesting discussions!
This issue is not limited to virtual assistants, so be sure to check it out on 2 Minutes with a VA.
Do you post your rates on your website? Why, or why not?
I did have my rates posted on my website and I got a few client calls. When I did a website makeover I removed my rates and got fewer client calls.
I think that you need to make sure your rates are “strategically placed” on your website.
Services first – make sure your potential client can see what you have to offer and that your services will be valuable for him/her.
FAQ – once your client has decided he/she wants your services you can answer all those FAQs right on your website about HOW you work (first step, procedure, etc) and THAT is where you put your rate.
I’m doing yet another website makeover and my rates are going back up.
Great tips Jacki! I think these principles are true regardless of the type of services you offer.
Although many people are rightfully concerned that posting your rates doesn’t give you a chance to sell yourself before talking money, it’s important to keep in mind that not posting them can scare away some potential clients.
I believe that when you post your rates you are attracting primarily the transaction-based shopper. This is fine if you are a burger chain or an online retailer but I disagree with this approach in a services industry.
Before I do business with anyone in the services industries, I want to know who they are and how they do the work. Do their values and approaches line up with my needs? Does the quality of their work show up well with their other clients? Price is less of a driver for me than others.
This doesn’t mean that my services/products are priced at a premium, nor am I the least expensive. I’m in with the pack.
I’d rather attract a client that is interested in a long-term relationship rather than the transactional client that whose only focus is the cost per hour/item.
Vince, my prices are also mid-range for my industry, but perhaps because there’s so much media around offshore VAs who work for very low rates, many people have unrealistic expectations of what we charge. As I discussed in the video, since publishing my rates, I no longer get inquiries from people expecting to pay $10-$15 per hour.
Janet, I would agree. Before anyone contacts me about my rates, they know what they are expecting to pay, and now just want to get down to the nitty gritty. I think putting your prices on your website gets those clients who value the services of a VA and understand what we do.
Bette, it’s interesting that you’re having the same experience. Although the focus should never be on price, the reality is that people do want to know how much something will cost. Factors such as quality of service, compatibility of communication style and values, and so on, are important, but if they can’t afford the service, all of that becomes moot.
Hmmm… maybe it’s an industry specific thing. I wouldn’t know how much rates are for VA at all. In my industry there is enough choice that one can quickly suss out what the going rates are.
Vince, that’s probably the answer! Because virtual assistants are a relatively new industry, many people expect it to cost the same as they would pay a high school student to perform very basic tasks.
VAs often need to educate prospective clients about the level of service we offer before any serious discussion about doing business together can take place, and I see publishing rates on the website as part of this process.
Great discussion. I wonder about posting advertising rates for my websites. I sell ads for another website that doesn’t post their rates, and I feel like we waste so much time responding to people who are looking for a mega-cheap option.
I think it weeds out the ones who aren’t serious, in a way
Sarah, I think it’s a good idea. I’ve shopped around for advertising options for some of my clients, and the rates vary so widely, that if they aren’t posted, I assume they are too expensive, and don’t add that site to my list. If the rates are right there, I’ll at least let my client know about the site so he/she can consider it for the future.
There are so many reasons why I think posting prices on your site are the way to go (some already mentioned in one variation or another):
1. At least give a range for a typical service or package for clients who may have no idea what tasks are provided by your service industry or what the going rates are.
2. Eliminate the task of responding to inquiries from clients who would never have contacted you if they knew your rates. (Wasting both your time and creating potential awkwardness.)
3. It’s too easy to skip your site and move on to someone who DOES post their prices.
4. Clients often need price shock adjustment time to determine when they’re ready to purchase. (They’ll be back, but they have to think about it for a while.) Give them that by making it easy to find your prices and assimilate them.
5. Posting prices provides the perfect opportunity to describe the services and deliverables that are part of your pricing packages. Use detailed bulleted lists and specific results that clients can expect. This gives you a huge competitive advantage over similar service providers who only post an hourly rate. (Personally, I’m leery of consultants who can up the price I’m being charged by taking a long time to deliver their service, without them providing any knowledge or expectation about how long their work will take.)
6. If you are confident in posting your pricing, and have descriptive packages and other evidence of credibility, you will convey the image that you are a professional and deserving of the rates you charge. (You are, aren’t you?)
I’ll stop here. That’s enough to make my point. I could write my own blog post on this topic, and I don’t even have a fee-charging business yet. My views and analysis are from my perspective as a potential client and my own experiences when shopping for services and professionals. If you really think it’s better to keep your rates private (and there may be some high-profile, overbooked consultants for which this is true), do so with the understanding of how your potential clients perceive your policy.
Denise, you make some great points – you’ve obviously given this a great deal of thought, and should be well prepared when you start your business!
I agree with Vince. I think there are as many people who don’t move on (because of no rates) as there are who do move on. Not all potential clients think the same way. I don’t.
In Denise’s 6th point, I have to argue that confidence isn’t limited to those who post their rates. Not posting them shows quite a bit of confidence. And not posting rates doesn’t mean that they’re trying to hide something, that they are unprofessional, nor that they are any less deserving of those rates.
There are good and bad points both ways – each will have their own potential clients. It’s a personal preference.
Great summary, Deb. Like so many other areas in business (and even in life itself), there is no absolute right or wrong answer.