The Price Conundrum: Why Hide the Cost?

Posted on Mon 21 March 2022 in Marketing

It's a scenario that keeps playing out on the internet: I stumble upon a website that eagerly extols the virtues of a product, detailing all its wonderful features, but when it comes to the price, it's nowhere to be found. In some cases, I'm even required to fill out a form just to get a glimpse of the price tag.

 

Honestly, it makes me want to shake my head in disbelief. What on earth were these website owners thinking? They've invested time and money in advertising and marketing. They've meticulously researched and planned their strategies to lure me into their online store. They've passionately explained all the benefits and made a convincing case for why I need their product right now, today.

 

And then, they hesitate to close the deal by not revealing the price. It leaves me with only two possible conclusions. Either their product is priced so exorbitantly high that I wouldn't consider purchasing it, or they believe their product is so unique and unrivaled that there's simply nothing comparable or competitive with an online price tag.

 

But here's a reality check for them – they might be entirely mistaken. By keeping the price under wraps, they risk losing out on potential sales.

 

I once received some valuable sales training at Home Depot from a fellow who excelled at selling custom kitchens. It was one of those hands-on, one-on-one sessions that you wish happened more often. Although I can't recall his name, I vividly remember his parting advice after the generic presentation. He emphasized that the final two steps in every successful sale were to inform the customer of the price and then simply stop talking.

 

That, according to him, was the key to his remarkable success. He would walk customers through all the benefits, customize the kitchen to their liking, create a stunning design, and display it on the computer screen. Then, he would reveal the price and let it sink in.

 

Customers use the price to assess value. Without a clear price, our minds tend to fill in the blanks with wild speculations. Our imaginations run wild, often conjuring up ridiculously high figures. If a seller is too hesitant to disclose the price of their product, we can only assume that it's astronomically expensive, perhaps requiring a small loan to afford.

 

So, what triggered this frustration? I was recently browsing the internet in search of raised garden beds and stumbled upon a website for garden edging called Kwik Kerb (KwikKerb.org). They had advertised their website on Google in response to my raised bed search.

 

I visited their website and was greeted by an impressive display of garden edging products. They were unique and aesthetically appealing. However, to obtain the price, I was redirected to a form that requested my contact information and the best time for them to call me. Frankly, I was taken aback. Did I really need someone to call me just to provide me with the price of a product I was merely curious about?

 

Here's the irony: the form is powered by PHP (kkorgus.php). So, why couldn't the PHP programmer ask for the quantity of edging I needed and instantly calculate a price for me? It's a simple calculation, and the answer may lie in the fact that the price is so shockingly high that no one in their right mind would willingly pay it.

 

So, Kwik Kerb plans to have a slick salesperson call me and attempt to stall me long enough to make their exorbitant fee seem like a reasonable investment. Well, I've got news for them – I won't be filling out that form anytime soon.