No More Hiding at the Point of Sale in E-Commerce
We recently programmed a client’s business-to-business e-commerce site to display competitor pricing alongside their own pricing.
Sound crazy?
We don’t think showing your competitor’s pricing is smart for everyone. But the idea behind it is embracing the truth that you can’t hide information from shoppers. Most visitors already know the lowest prices for the items they’re buying, or can double-check in under 10 seconds. There’s no hiding anymore.
Last week I found myself at an enormous, local mall hunting for a pair of shoes. Like most shoppers, I had a set of assumptions in my mind about what was important to me in my purchasing decision. In my case my criteria were, in order:
- Shoes not made under oppressive work conditions
- Comfort (I walk a lot)
- Price
I could immediately evaluate comfort and price on every pair of shoes. The stores let me try them on and walk around. They put retail and discount prices on signs or on the shoes. But my first criteria–that the shoes I buy not be made under oppressive work conditions–was invisible. I could ask a sales rep, but I had little confidence I could get reliable information that way.
After visiting several stores, I found a pair of shoes that were super comfy and listed at a compelling price (50% off!). But were they ethically made? Since the sellers weren’t revealing that information, how could I know?
Five or ten years ago, I would have had to abandon that criterion at the point of sale. Not anymore. I got out my smartphone, pulled up a website that ranks company ethics, and found the information I wanted.
The info wasn’t to my liking. I walked out and eventually made a different purchase.
The days of hiding information from your customers are long gone. For e-commerce sales, this is even more true. What are the most influential criteria for purchases in your industry? Is your value in those criteria (price, speed of delivery, quality) available at the point of sale?
If your customers care about ethics in production (a niche market, unfortunately), provide a link to an external valuation source. Virtually all customers care about price and delivery, so make your value transparent both when a visitor is viewing a product and throughout the shopping cart steps.
If you’re the cheapest, great. But in many industries, there is more at work than simply price. Make sure you know and communicate why you’re worth the premium. It could be customer support, speed of delivery, quality, cross-sells with other products you offer, or something else that makes you unique and valuable. Zappos.com is a great example of promising superior customer service at the point of sale.
The days of hiding are gone. Embrace transparency at the point of sale, and it will drive both your revenue and your overall value to your customers.
