Tech Buyers Demand Honest and Up-Front Pricing Info
Tech sellers, listen up: buyers need your pricing information, but they don’t want cold outreach.
According to our 2022 B2B Buying Disconnect report, buyers across all generations are changing their buying habits, as compared to just a few years ago. Some of the patterns that we found are that today’s buyers:
- Want to self-serve and control their experience
- Are demanding complete control of the process: doing their own research and speaking to a sales representative only when they’re ready, if at all
- Prefer that pricing be transparent and easy to find
However, these researching habits often don’t align with what vendors are actually providing for potential buyers—especially when it comes to up-front pricing. We live in the age of obscurity when it comes to software pricing. Tech vendors don’t want to give up pricing information voluntarily and buyers don’t want to give out their personal information before they’re ready to talk with a salesperson.
This creates a terrible outcome for everyone.
Buyers aren’t able to get the pricing information they need, and you lose out on potentially valuable leads.
The root of the pricing problem
Buyers need accurate pricing information. They’re trying to determine the total cost of using your product—including maintenance, premium support, and implementation—and they want to compare your numbers directly against your competitors’.
Without accurate and accessible pricing info, it’s nearly impossible to compare ROI, which is highly frustrating.
Our research shows that when buyers can’t find pricing info, they move on and consider other products. Here’s the proof:
In addition, this year’s B2B Buying Disconnect report uncovered just how much buyers rely on self-service channels. In our 2021 report, we found that 87% of buyers wanted to self-serve part or all of the buying journey. But in 2022, it’s virtually 100%.
And out of all possible resources to be put up on these self-service channels, pricing information tops the list of buyer expectations for self-service. The vast majority of buyers (81%) want to find pricing information on their own.
We take a buyer-first approach at TrustRadius, and for good reason. When buyers are unsatisfied, they bounce, they remove products from their short list, and they develop bad relationships with brands.
We’re here to make sure that doesn’t happen—especially with low-funnel leads.
But we need your help.
The win-win pricing solution
We know what’s at stake for you to give up your pricing info. We’ve worked with marketers who fear that if they reveal too much, they’ll deplete their pipeline. But we know from research and experience that the opposite is true.
In fact, 71% of our annual survey respondents said that readily available pricing on a vendor’s website would make them more likely to buy.
That’s why we came up with a brand new way for you to give buyers what they’re looking for.
We created a new pricing page for every single product on the TrustRadius platform.
Your pricing page includes:
- Concrete numbers (in $$$)
- Pricing info for each subscription level
- Per-unit and per-month pricing
- Reviews that highlight your product’s overall value
Here’s what the pricing page looks like for monday.com:
Of course, this information helps buyers. They’re far more likely to add your product to their short list, and they’re also more likely to have a favorable opinion of your brand.
But our new pricing page also helps you meet your marketing goals in a very real way.
Give your pricing info, get real benefits
We’ve seen up to 50% increase in CTA conversion for products with pricing info. When you partner with TrustRadius, those CTA clicks go straight into your inbox as highly qualified leads.
We’ve proven that buyers who are truly interested in your product are more likely to visit your website and engage with you directly—and that’s exactly what you want.
Our pricing pages are also designed to collect high-value buyer intent signals.
We can show you which buyers have looked at your prices, which buyers are looking at your competitors’ prices, and which buyers are directly comparing your product with the competition.
All it takes is filling out your pricing information on TrustRadius. Get started by claiming your free profile.