Are people sensitive to the prices?

When I started to look for today's topic I wanted to write again about the importance of blogging and content management because, let's be honest, this topic doesn't get old and it is always interesting to find new perspectives and motivation.

But then I’ve remembered my reaction to one website a few days ago as I was looking for pendant lights (don’t ask, I’m decorating :-) ). I decided to talk about prices and their influence on people’s decision to buy something. The price matters, at least it does to me. So, yes, from my perspective, people are sensitive to price.

What’s in it for you?

When making a website on which you promote your product or a service you definitely have to cover these topics:

• cost
• problems
• comparison
• reviews
• best

The first thing is unquestionable - the price. If I see something in a range of price I didn’t set my budget too, I’ll leave the page. And that is okay, as it is okay for you to leave if you’re not satisfied. Why would you spend your time if you are certain that you can’t afford it?

And if you are running a business, and you decided about the worth of your goods and services, would you go under some valuable line? The best thing for you (who are making an offer) and for them (who are in search of something) is to point out the price as it is.

From a customer’s perspective I must say that I rarely ask someone additionally for a price, if I don’t see it listed, I rather turn to somebody else. And I think I’m not the only one to think like that. Oh, yes, I would like 50 tulips for €5! 

From a marketer’s perspective, the price is extremely important and it requires a lot of planning and judging.

Price is important to marketers because it represents marketers' assessment of the value customers see in the product or service and are willing to pay for a product or service.
Source: Boundless. “The Importance of Price to Marketers.”

To find your place on the market you will need to be patient and insightful. As it is with everything, the same is with marketing. It’s better to start “with two feet on the ground” and then gradually make your way to the top. Or in the ‘price land,’ it is better to start with a realistic price and then make your adjustments. But nothing before you have your loyal audience and customers. The most important thing in the whole story is that people get to know your offer, start using it and then realize that they can’t go on without it anymore.

Once a customer is accustomed to the price, and he or she believes that they are getting value for money, you can slightly adjust the prices. But be sure to follow the values, meaning, if you respond to people’s problems, needs, requests, desires, they will still continue to be your customers.  

The talks about the price are always awkward, but they don’t have to be if you have every part of the pricing listed and explained with a fixed price, then people wouldn’t get surprised, whether it is a positive or negative surprise.

For the closure, I would like to finish with a line by Sam Ashe-Edmunds, Demand Media:

‘The price you set sends a message to some consumers about your business, product or service, creating a perceived value. This affects your brand, image or position in the marketplace.’

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