If you run your own business, then you have undoubtedly asked yourself this question before. Here's the dilemma: Do you put your prices on your site and risk undercutting yourself, or do you keep your prices off your site and risk alienating prospective clients who have a specific budget in mind?
Here's my take on it: In my experience, being transparent generally does more good than harm. By being up front about your pricing, you save yourself the trouble of having conversations with people whose budgets fall far below what you charge.
"But what about people who might have been willing to pay me more?" you're probably wondering. And that's a fair point. There are a couple of tips to avoid pigeon-holing yourself into a corner when it comes to charging what you're worth:
1) Offer multiple packages
Sometimes you need to customize your services for whom you're working with. Every client is different, so naturally it makes sense that a one-size-fits-all model isn't the best approach. So instead of offering a one-hour session for $100 let's say, you could offer three packages: $75 for half an hour, $125 for a full-hour, and maybe a premium package for $300 which includes a whole list of features that don't come with the first two packages. By offering tiered packaging, you give the client different options, increasing the chances that one of those packages will fit within their budget. (Watch this fascinating video on the psychological effects of pricing if you're interested in learning about price anchoring.)
2) Start off each package listing with "starting at"
By prefacing your packages with "starting at", you'll give yourself more flexibility with your pricing. This allows you to screen out people who can't afford you, while at the same time giving prospective clients an idea of what they can expect to spend by hiring you -- all without putting a cap on what you charge.
Do you list your prices on your site? Why or why not? Leave a comment with your thoughts, I'm interested in hearing your perspective!