Have you ever considered just how important your pricing page is?
All of your marketing and product efforts are geared towards encouraging people to purchase your product, which makes your pricing page - as the gateway between your customers and your revenue - the most critical page on your website. Given this paradigm, it would obviously make sense for your pricing page to be as compelling and frictionless as possible to make the buying process for your customers a no-brainer.
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Reducing friction on your pricing page is often easier said than done, but if you’ve read our blog recently or checked out our latest ebook, you know we’ve collected market data and best practices from over 270 SaaS companies to find out what makes the best pricing pages so effective. Let’s dive into some top level findings concerning which page features actually smooth the pavement for potential customers and increase conversion rates.
1. Live Chat
Live chats can be a superb way to reduce friction on your pricing page by helping you overcome last minute objections and questions from customers. Buyers often have lingering questions before purchasing from your pricing page, and those lingering questions can often be the difference between a purchase and a prospect who churns and never returns.
Live chats solve this problem by allowing people to talk with you about your product without having to pick up the phone to engage with a salesperson. They’re not just for shy prospects though, as they can help you engage with any curious customer early on in the buying process.
However, live chat is a relatively new technology, which explains why its adoption rate in the SaaS market is currently very low. As time goes on, we expect the number of companies who utilize live chat to increase, so implementing it earlier may provide you with a slight competitive advantage that later adopters won’t have.
As a bonus, live chats can also help you identify areas where your pricing page needs improvement. If you implement a live chat system, customers who chat with you will already be on site to offer feedback on your pricing strategy as well as your pricing page layout and design. This will help you refine parts of the buying process that you may not have realized were causing issues with your potential customers.
3 out of 5 SaaS companies we studied maintain frequently asked questions (FAQs) on their pricing pages, which is another great method for reducing friction in your buying process. Like live chats, FAQs can increase conversion rates by answering common last-minute questions from customers before they purchase.
However, FAQs don’t require your customers to speak, even virtually, with anyone. While that makes them a surefire way to reduce friction and quell common customer concerns, the flipside is your FAQs cannot be tailored to every individual. Simply put, you won’t have an answer for everyone.
Given that FAQs require a comparatively small amount of effort to implement, a good idea may be to combine the powers of live chat and FAQs by offering both on your pricing page. This way, customers who are satisfied with the FAQs never have to expend the energy to reach out to your customer development team, and those who want more specialized answers have the ability to reach out through a low-commitment interaction.
3. References / High Profile Clients
Adding high profile clients and their testimonials to your pricing page can motivate customers to purchase by increasing your product’s social validation. If a company is looking at your pricing page and realizes that you’re working with some of their biggest competitors, your product and pricing page will be much more compelling to them simply because they’ll want to ensure they’re not falling behind.
This technique obviously assumes that you have high profile clients to list, but you shouldn’t be too concerned if you don’t; over 50% of the companies we analyzed chose not to display high-profile customers on their pricing page.
4. Word Counts
The word count of your pricing page doesn't have anything to do with adding value, but too much text can definitely increase friction. Try to summarize your product's unique benefits versus overwhelming customers with a laundry list of available features. You can always include a link to the full feature list, so boil down your product descriptions to the features your customers value most to ensure they’re not paralyzed by the sheer amount of information they need to consume (check out our post on feature value analysis if you want to dig a bit deeper on this).
Customers who are confused and/or overwhelmed are much more likely to churn off of your site than those who can quickly grasp how much value your product provides, so it’s important to efficiently show how your service delivers value to justify the prices of your plans. Most companies keep their word count to between 200 - 600 words, though the word count can vary depending on the complexity of your product.
Fight the Friction
While there is no silver bullet for magically improving conversion rates on your pricing page, you can definitely make incremental changes to the design and layout of your page to make it much easier for people to purchase your product. The goal is to create a compelling gateway that pushes back on resistance and customer objections, which is what the tips we listed above should help you do.
Of course, each company and pricing page is unique, so if you’re looking for more individualized advice, feel free to sign up for a free Price Optimization Assessment with an expert here on the team.
If you want to learn more pricing page best practices, check out our latest eBook, The SaaS Pricing Page Blueprint, which offers in-depth data and analysis on building the perfect pricing page.