6 Reasons Home Service Companies Should Start Showing Their Prices

"How much does it cost?" is the number one question prospective customers ask. In this article, we'll explore the top six reasons why home service companies should start showing their prices today.

54% of inbound calls to home service companies are related to pricing.

Source: Aspec

Trust & Transparency

As one of our key Guiding Principles, we must take every opportunity to build and reinforce trust with the homeowners we serve. Showing prices online can help build trust with potential customers, allowing them to see exactly what they will be paying for before committing to a service. This transparency can be especially important in the home service industry, where customers may not be familiar with the cost and the process. Providing answers to their questions helps educate them on their journey, and answering THE most important questions (How much will this cost?) saves them a lot of time and energy and adds value to their research. Showing our prices also shows transparency into how your company operates and demonstrates that you are so confident in what you do and how you do it that you are not afraid to show your prices online. When a home service company does not have clear and transparent prices, customers may feel unsure about the final cost and may choose to go with a competitor that has more transparent pricing.

43% of consumers prefer to purchase services online because of the convenience and ease of use of the purchasing process.

Source: Deloitte

Convenience

Showing prices online can be convenient for both the company and the customer. Customers can easily see the prices and decide without having to contact the company directly or wait to hear back when filling out a request for estimate form, saving them time and effort. This can be especially helpful for busy customers who do not have a lot of time to wait for a callback or email response – they want to know that it’s done. Additionally, home service companies can save time by not having to quote prices for each individual customer, which can be especially beneficial for companies that receive a large volume of inquiries.

72% of consumers prefer to use online channels to research and purchase services.

Source: Accenture

Attracting Price-Sensitive Customers

Some customers may be more price-sensitive than others, and showing lower prices online can help to seal the deal. Home service companies can easily convert price-sensitive customers into recurring revenue by making it easy for homeowners to see the prices for different services. This can be especially important for new home service companies or those looking to expand their customer base in new areas.

55% of price-sensitive consumers are willing to shop around for the best deal.

Source: PwC

Repelling Price-Sensitive Customers

Some home services companies know they’re not the cheapest, which is OK. By design, their services cost more because they provide more in-depth services, higher quality, more oversight, higher guarantees, or several other factors that require a higher price point. These home service companies are not looking for customers who expect a lot but don’t want to pay for it, which can create unnecessary and wasteful repeat visits and refunds.

For similar reasons, many homeowners immediately disqualify companies with the lowest prices. They know that quality, performance, and reliability cost more, and they are willing to pay more for peace of mind and more comprehensive delivery.

78% of consumers are willing to pay more for a service if they believe it has a higher quality.

Source: Accenture

Showing more expensive prices online can help price-sensitive buyers make a quick decision not to engage, saving your sales & support team a lot of time & energy. It’s important to note that price-sensitive shoppers can turn into quality buyers when they understand the difference and value that your company provides – so make sure that your website and marketing materials accurately reflect how you’re different, why it’s important, and how it adds value to their well being.

Improving the Customer Experience

When customers can easily find prices online and easily checkout, it signals that your company is well organized and cares about the overall customer experience. The data shows that customers are more likely to engage when they have a positive customer experience with a company and may be more likely to use its services in the future. As it relates to Click to Buy, we hear time and time again that when compared to other less sophisticated solutions, the user experience design (UX) of our software increases the confidence homeowners have in buying their services online – it stands apart and brings confidence in the business and homeowners.

49% of consumers said they would like to purchase all of their services online if possible.

Source: McKinsey

Increasing Sales

Showing your prices (and allowing prospects to buy) speeds up the sales cycle exponentially. When prospective customers know your prices, they can quickly make a decision and buy. No filling out request forms. No waiting to hear back. No having to call and get an estimate over the phone. It cuts all the waste out of the middle and connects buyers with options and prices. Additionally, showing prices can let homeowners decide to connect with your – any time day or night.

We’ve covered a lot of reasons why Click to Buy is the future of buying and selling home services, many of which relate to changes in buying patterns that can not be discounted. Embrace it or be left behind.

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