Publishing Your Price List As Part Of Your Audiology Marketing Strategy
I published a post on the old blog called Hearing Instrument Price List, Publish And Be Damned? The article caused a bit of furore, splitting readers into two camps. Those that saw the how it fit into their audiology marketing strategy and those who felt it led to commoditization of their services.
The main thrust of the latter argument was that by publishing their hearing aid prices they were focusing on hearing aids as a commodity and not on the real service, rehabilitation and after-care they offered as hearing healthcare Professionals. My answer to those people was that if they wanted to re-focus people on the service they offered, why did they not un-bundle pricing and publish that price list? This type of action would clearly focus prospective Patients’ thought processes on service and after-care, no?
Nobody came back with an answer to that, I was hoping somebody would. I enjoy a good debate, I’m Irish, we like arguing, second only to drinking apparently.
I have felt for years that by unbundling product and services our profession could drive uptake rates and establish ourselves as professional at the centre of the process of hearing well. In fact I think that pricing as it stands focuses the Patient solely on the hearing instruments. Our services are secondary in the psychology of the sale particularly for new users. This is definitely not the case in purchases made by existing users. I think using un-bundling of instrument and services can be a key part of your audiology marketing strategy.
A recent article appears to establish clear evidence that unbundling is the way forward for our profession. The conclusions from the research undertaken by Amyn M. Amlani, Ph.D are that both experienced and in-experienced users were in fact happy to pay more for un-bundled instruments and services. The reasons for this were varied from experienced to inexperienced users. But the price they were willing to pay was similar.
In the case of an experienced user the price had risen by about 20%, but the greatest jump in willingness was within the inexperienced user bracket. Inexperienced users were willing to pay 50% more for unbundled than they were for bundled. This study is now being re-done with a wider audience in order to validate the data. The conclusions so far are as follows:
Thus far, our efforts indicate that the type of pricing strategy influences the value-based (i.e., needs and expectations) features and services provided for both experienced and inexperienced users. For inexperienced users, the traditional bundled approach has and continues to create a negative perception of value-based benefit—especially with respect to rehabilitative services—ultimately leading to a decrease in purchase intent. The unbundled approach—which discloses the technological aspects of amplification and service benefits provided by the dispenser—creates a more positive value-based perception, and will improve purchase intent for both experienced and inexperienced users. Amyn M. Amlani, Ph.D
The original article can be seen at Influence of pricing strategy on adoption. It appears that the research supports unbundling as a sound commercial pricing strategy. I would postulate that publishing of a price list that includes unbundling would also be a sound commercial strategy. I think that publishing your price list online, if done properly with a clear strategy in mind is a sound commercial strategy. I believe that it can be a sound part of your audiology marketing strategy.
Again, the key here is if done properly, it needs to be presented properly utilising clear and sound SEO strategy that will deliver visitors to your website. Getting them there is only half the battle, when you have them there you need to convert them. So include clear call to actions on your pages, in order that visitors to your website can be converted to visitors to your Practice. That is in fact what your audiology marketing strategy is all about, right?