There are many elements to take into account when creating a pricing page. From strategy to messaging and finally the design, each element has an active and important role in converting visitors into paying customers.
However, when it comes to website pricing, there are two important elements most customers consider: the strategy and the design. Each part of the pricing page structure is important for increasing conversion rate. In today’s post, we will learn the good, the bad and how to fix the problems that arise during the pricing process.
Building a Pricing Page Strategy
When it comes to our purchasing habits many different elements influence our decision making process. From evaluating the decision to be made, gathering the right information, identifying the options, weighing the alternatives and finally making a decision, many psychological triggers kick in and effect our final decision. There are many elements to take into consideration before the actual design.
1. Predefine customer obstacles & objections
Before starting your design, list all the objections your potential buyers are likely to have to becoming a paying customer. This list will give you an idea of what you need to tackle on your pricing page, which elements should be focused on the page, and which removed. Once you’ve made a list of your potential customer’s objections your next step will be working on your pricing strategy. Two elements that will help you define a pricing page strategy:
- Knowing how much it costs to produce your product/service – How much does your product cost? what goes into it.
- Understanding your client’s willingness to pay – We tend to value our product or service at a much higher price than people are actually willing to pay for it, simply because it’s ours. How much will your customer be willing to pay? will they be willing to pay? and when?
2. The Message
Moving on, the next step in your pricing page strategy is defining your messaging. Remember that customers are going to be looking for the “What’s in it for me” element.
Two common mistakes that most enterpreneurs made:
- Focusing on your product or service rather than the outcome and bottom line for the customer.
- Giving many warnings to customers before they’ve even chosen a plan. (AKA: no gimmicks! no questions asked! money-back guarantees)
These two mistakes, especially the second one, plant worries in your customers mind before they’ve even had time to think of them.
3. Pricing Plan Names
The names of your pricing plans matter, by using meaningful names you can reduce customer frustration and direct them to a particular plan that’s good for them. By distinguishing between entrepreneurs, growing businesses and high volume senders, customers know immediately where they fit in and can choose a plan quickly.
4. User psychology
There are many psychological triggers that effect our purchasing decisions, like Anchoring, analysis paralysis, the endowment effect and other cognitive biases that can be used in our pricing page design. Using techniques such as free trials, specific plan sales and premium plans can increase conversion dramatically. Using psychological triggers brings us back to the basics: Recognise your customer’s emotional triggers, what will trigger them quickly and what is the best way to convince them to purchase your plan.
5. Easy to Understand
Keep it simple, short and understandable. Don’t try to reinvent the wheel; don’t make it too complicated to understand. You want visitors to get the bottom line of your pricing page in a few seconds, recognise the right plan for them and choose it. Don’t over complicate it with text and new ideas.
6. Reduce Copy
One thing you want to watch out for is the amount of text you use on your pricing pages. Many marketers try to add as much explanation as possible to their pricing page, essentially making it hard to read, pushing important and relevant information below the fold and making it hard for people to understand the page. Reduce the copy to a minimum, make sure to show only the most important content needed above the fold.
7. Keep it simple, clean and uncluttered
Steer away from cluttered pricing pages. Similar to reducing your copy to a minimum, make sure your pricing page is easy to comprehend and analyse. People won’t read everything; they will skim through your proposals. Remember, people want to be navigated in the right direction, they want to know where to look and what to click, maintaining a clutter free pricing page will help them do that.
8. Make it comparable
When building a pricing page, you want to make sure it is easy to compare your offerings. Potential customers see dozens of offers a day and need to have an easy way to compare these offers. Creating a few optional plans and highlighting the differences between them helps not only in making it comparable but also in directing your customer towards the plan you want them to choose.
9. Tell them what to choose
Other than making pricing plans that are easy to compare, you want to help customers choose a plan. When customers have too many options and aren’t sure what to choose, our default is not to choose. This is a cognitive bias known as Analysis Paralysis. To ensure this doesn’t happen to your customers, giving them a few different options isn’t enough.
Use design elements, test, and direct customers the right way. Here are some tips:
- Use a color to highlight a specific plan.
- Use the “anchoring” technique – show a higher price first and a more affordable one next to it. It is best to set the higher price on the left hand side.
- Calculate the best plan for your customer.
10. Show Trust & Security
It all comes down to trust and feeling safe. People want to know their information is safe, that you’re a safe business and that they can trust you. There are many ways to increase trust and safety on pricing pages, but first and foremost, you’ll need to focus on the two most common ones:
- Testimonials – show potential customers that you have many other happy and satisfied customers.
- Trust icons – show off your partnerships and security methods.
11. Convert to their currency
A great way to increase pricing page conversion rates is to show pricing currency according to the customer’s country. By offering an option to change to their own currency, customers will be able to compare plans easily without the need to convert pricing themselves.
12. Focus on the CTA
Too many pricing pages have their call to action buttons below the fold, basically making customers scroll in order to checkout. Your call to action should be visible to a visitor immediately and should also be the first natural place a visitor looks at. Make sure your call to action button stands out, and that no other elements overshadow it.
13. Limit Amount of Plans
Remember that too many options can cause frustration and increase bounce rate. Use pricing plans so customers can compare and find the best plan for themselves but use the minimum brainpower needed. Try testing the number of plans you have.
14. Yearly vs Monthly Plans
“Choice supportive” is a term in psychology that knows our tendency to remember our choices as better than they might have actually been. When people look back on their past purchases, they tend to rationalise the reasons they chose the way they did and feel satisfied with the purchases. This is why a one time yearly payment is considered better than a recurring monthly payment that may make our customer reevaluate their purchase each month. Test yearly pricing plans vs. monthly pricing plans to discover what your customers prefer.
15. Live Chat
Chat is a great way to communicate with your customers during the checkout process. Many customers have minor issues that could be addressed immediately and increase your conversion rates. In fact, latest research has found that:
- 44 percent of online consumers say that having questions answered by a live agent while in the middle of an online purchase is one of the most important features a website can offer.
- Chatters who engage via proactive invitation are 9.8x more likely to convert than visitors who don’t chat.
16. Introduce Exit Pops
A great way to capture people before they leave your pricing page is using a dedicated exit pop. However, keep in mind that this is not the automated exit pops that look like an error just happened on your browser, but a pop up that is designed personally for your customers. An exit pop can be used in many ways, the two most common are:
- Giving a last minute deal before leaving
- Capturing a customer’s email before leaving
17. Start Testing
The secret to any good pricing page or landing page is constant testing. There isn’t one best way to design a pricing page, everything needs to be tested and personalised for your customers. One thing that works for your competitor won’t necessarily work for you and vice versa, continue testing ideas and trying new modules on a monthly basis.
Remember that a pricing page is the first place a customer puts their vote of confidence in you and your product or service. When designing a pricing page plan, make an experience your customer will remember and feel good about. Similar to landing pages, pricing pages should be optimised and tested on a regular basis.