Could You, Should You, Would You?

Your instrument pricing, should you make it easy to access?

I have come across several different views on this question over the years. Historically I was taught that I should never really discuss pricing with prospects unless I was in consultation with them. Over time the thoughts on this changed and we discussed general figures over the phone but qualified our statements with the information that definitive pricing would depend on consultation.

But our prospective Patients have changed, they are better informed, they or their loved ones have usually done some research. That research is usually undertaken into their problem and the solutions available. They may even have researched types of instruments available and some of the manufacturers of those instruments. They are also keenly aware of pricing, particularly in our market here.

So is it time for us to change our ideas about our price lists? There are a few businesses publishing their price list online on their website. But it is only a few, why? Is it a throwback to the old “Don’t discuss the price!” or is it for commercial reasons? I understand that some people consider their instrument pricing to be sensitive commercial information. But is it? If your competitor really wants to know your pricing they can find out. We know that in the UK and Ireland Specsavers publish their price list, which is quite cheap. But it has not stopped Patients going to Independent businesses and buying more expensive and better more modern technology.

So it is obvious that the purchase of hearing instruments is not all about the price. Otherwise the cheapest offering would always win. Admittedly, new users are price sensitive, but experienced users are far less price centred, they are definitely more service centred. So what are the pros and cons

Pros:

• Search Engine Optimisation advantages
• Perceived as open and honest by your prospects
• Patients expectations moderated
• Extends the opportunity to a Practice to explain product placement and pricing

Cons:

• Competitors view your prices
• Open to price comparison

Sorry cons are short, because I can’t really think of any outside the two I have offered. The pros of the approach have real value to you as a Practice. First the SEO advantages will drive you up the search rankings, always a wonderful thing. Second you increase the perception of openness and honesty in prospects. Just those two points have to be winners for any business. Whilst the cons also need to be carefully thought about, the first one is really a non entity. As I have said, if a competitor wants to know your pricing they will find out. Admittedly you publishing it makes it easier, but if a competitor is worried about what you are doing they are not helping their business.

The price comparison point is valid, again I think it is more valid for new users than existing users. But if you have pitched your site correctly even new users will get a sense that service is the key and that price is not all. What do you think, will you publish and be damned?

Regards

Geoff