HomeMarketing15 Best Practices for Pricing Pages to Ensure Higher Conversion Rates
15 Best Practices for Pricing Pages to Ensure Higher Conversion Rates
April 22, 2020
A pricing page is an independent page on a website that gives more information about the prices of products. Websites will usually have a simple table showing their main plans, which are often categorized as Basic, Featured, and Premium.
Having a tabular format on the pricing page is common practice. This helps the user scan through the different plans and features associated with the product or service you are providing. Displaying all the available plans makes decision making easier for users. Above all, its primary purpose is to get visitors to sign up for your free trial or make a purchase.
“The moment you make a mistake in pricing, you’re eating into your reputation or your profits.”
How to guarantee more sales from your pricing page?
If your pricing page is not actionable and informative enough, you will lose business. This page holds a lot of potential for generating revenue, however, for most marketing experts, this page is the last page in the decision-making process.
As a result, the click-through rate of this page is often overlooked. Likewise, most websites do not understand the need to spend time and effort on their pricing page with respect to optimizing conversion rates.
It is imperative to understand that if you don’t design a price strategy, or your pricing page has a poor design, even convinced customers can leave without making a purchase.
An optimized pricing page will attract visitors, even if the prices of your products or services are higher than your competitors’. That is why designing this page with great care is essential for conversions.
Let us look at 15 Best Practices to create Pricing Pages
1. Highlight your unique value proposition
One of the pricing page best practices is to show or state the benefits your product offers to its users. Allow them to understand how your product or service will benefit their businesses.
This will encourage them to take part in the buying process. The pricing page, if designed well, can give you a competitive advantage. It gives you an opportunity to highlight what differentiates you from your competitors.
Each word on the pricing page should enhance the importance of your product. In other words, your copy of the pricing page and the price list should emphasize the result it delivers.
For example, check out the Constant Contact pricing page. It describes what users will get at each level of the plan and how it helps them achieve their goals. Buyers can identify which plan suits their needs best on a single page.
2. Make currency signs smaller
The currency symbol, whether it’s a Dollar, Pound, or any other currency, symbolizes cost or price. Big currency signs can make people think that they are about to spend a lot of money. When you make currency signs almost invisible, it entices people to buy more.
For example, WPeka uses this strategy on its pricing page.
3. Include testimonials or recommendations on the pricing page
A testimonial can convert a doubting visitor’s perspective. It has been observed that potential customers who saw testimonials on the page later turned into loyal clients.
Testimonials are powerful conversion features.
An example of a page that uses such testimonials, is CyberChimps. This platform uses embedded testimonials and displays case studies with recommendations on their pricing page.
Don’t know what tool to use for adding testimonials to your pricing page?
Strong Testimonials helps you easily collect and display customer testimonials on your website. With this tool, you can import Google, Yelp, Facebook, WooCommerce, and Zomato reviews, add star ratings, include video testimonials, and more features that will help you drive sales.
4. Allow for the conversion of currencies
A lot of people buy and sell from any part of the world. Many buyers get confused if the currency is not their own and would, therefore, be unsure of how much money they are about to spend. So, you must allow conversion.
To do this, you can choose to set product prices for different versions of the website. You can also add an application to ease conversion. For example, if you use Shopify, you can use a currency conversion application.
5. Build confidence
Another important goal of the pricing page is to help visitors make an informed decision. This page either converts the visitor or loses him. The pricing page design must be able to gain a visitor’s confidence.
This is one crucial task for marketing management. Sellers should take advantage of a great pricing page design. You may not be able to offer a price as low as your competitor, but on the other hand, what matters is how you present it. The pricing page needs to have a professional appeal.
One of the ways to build trust and confidence in your visitors is to place trust seals on the page.
Here are some examples of trust seals:
Money back or other guarantees
Reliable stamps show your data is secure
Social proof in the form of a certificate – you can leverage on TrustPulse to build trust.
6. Offer a free trial
Free trials are the best way to get clients to sign up on your website. They work because they create a sense of ownership in the visitor’s mind. This means that when you present it to your customers, they own something, and they value it.
Successful businesses get 25% of new clients from FREE trials and freemiums.
So why don’t you try this in your pricing page tactics and see if it works for you?
According to SaaS Metrics 2016 report, Totango found that 16% of enterprises have obtained more than half of their business in this way.
7. Integrate plans with buyer personas
If you know what your customers like, you would be in a better place to develop a product. Don’t you agree?
Integrating your plans with the buyer’s persona is an integral part of marketing. It helps you interact with real people and describe their main interests. Knowing your audience can help you create packages that meet their exact needs.
On your platform, shoppers or visitors can be asked to submit information such as:
8. Make your Call-To-Action more visible
When visitors get to your pricing page, it shows they are ready to buy. Making your CTA very obvious in strategic areas will boost sales. Some marketers make the mistake of burying their CTA within the price list.
Never hide your CTA in the price list – always put it at the top where people can notice it with ease. One best example of a pricing page showing this is Vimeo. Here, you will see two different CTAs one after the other, yet, both are equally visible on the pricing page.
You may use CTAs to navigate users to the next step in the buying process. Most importantly, use action words like Get Started Now, Buy Now, etc.
9. Add number nine to your prices
There is a psychological manipulation when you include the figure “9” at the end of your prices. For instance, if your price was meant to be $200, you’ll showcase $199.
You might call this glamour price, however, there’s a theory that specific prices have a psychological impact on buyers. You might have seen this in supermarkets. This strategy is popular amongst big eCommerce giants like Amazon, eBay, etc.
It makes buyers feel that they are getting the best deal like this one here:
Want to know how the number “9” works? Read this article by Gumroad. It shows how using this pricing page practice increased conversion rates.
10. Reduce friction points
Many people have FUD (Fear, Uncertainty, and Doubt) to make online transactions. Especially when it comes to online transactions with unknown and poor design websites. FUD are factors that stop online visitors from buying.
You may have experienced friction points as a buyer yourself. So, how can you reduce friction points?
Add live chat
Most popular technologies in marketing provide buyers with the option of live chat to interact with sales representatives. Online marketing or eCommerce is all about the interaction between buyer and seller. Buyers expect to find personal answers to different questions, especially if you sell or offer expensive products or services.
Include an FAQ to your pricing page
Contact your customer service team and create a list of the most common questions. Answer these questions in the FAQ section of the pricing page. This will reduce your burden of solving any initial queries the buyer may have.
11. Use contrasting colors and the right fonts
There are some colors and fonts that are ideal for the pricing page. They affect visitors to your platform in many ways. The right color or font can evoke certain emotions and feelings. In this way, you can influence the way people react to your pages.
For instance, orange projects joy and action. Blue evokes a sense of trust and calmness. Using combinations of colors passes a message across to your audience.
An example is AdEspresso. They have used many colors and shades in the complete referral program, and use a big green button to get people to test first.
12. Improve action and information
Many research papers show that more activity-oriented pricing pages get a better response. The more information you provide, the better the pricing page gets for securing users. If your page lacks information, it will increase bounce rates.
An example is the Hubspot pricing page. It has clear-cut information that helps visitors feel secure.
13. Make it an easy-to-manage solution
Research shows that people prefer simple pricing. If the choice is too complicated or difficult, people would instead not decide. Complex pricing pages face the challenge of bounced sessions. If your value proposition is simple and easy to apply, then your price will reflect that.
Designing and developing pricing pages may be difficult. Try to put together all the important information a user needs to make a purchase and present it. The pricing page with the most useful information and most actions can lead to more sales. In short, the interaction on this page determines the ultimate success or failure of your businesses.
14. Show your customers the most popular plan
If there are packages you want visitors to buy, use a specific design to highlight them on the page. The motion effect is the tendency of people to do what others have done before them. This is a cognitive bias that has profound implications for many industries. When visitors know one plan is more popular than another, they may choose it. Executives often point to the “most popular plans” on the pricing page.
You can do the following:
Use other CTAs
Provide different color titles
Use different colors for the entire column
For example, WPForms highlights its most popular packages and also uses price anchoring.
15. Give them not more than three options
Most of us know that the average number of pricing options is usually not more than 4. Some of the errors in pricing can be that marketers provide only one option. The possible variations in pricing is a must. Customers prefer to control the buying process.
You want to give people enough information and context so that they can understand which option is best for them. This helps you avoid providing many options that may cause analysis paralysis. Customers don’t want to be pushed to an alternative. Instead, they want to choose the option that works best for them.
An example is Qualaroo. The platform has a clear pricing plan that includes three plans.
To sum it up, the pricing page is not the page that visitors visit at the end of the decision process. Moreover, this false assumption causes a low CTR rate for eCommerce stores. The click-through rate of price pages is often overlooked compared to landing pages.
The reality is that a great pricing strategy and a poor design won’t convince customers.
An optimized pricing page will attract customers, even if the prices of your products or services are a little higher than your competitors’. Visitors decide whether to subscribe or buy what you offer on the pricing page itself. So make sure you design it with the above tips for a higher conversion rate.
Leave a comment below if you have any valuable tips for optimizing the pricing page.