Web Design Elements That Enable Premium Pricing
Web design for premium pricing
You’ve got a great product, and you’re ready to enter the market. But how do you stand out from the competition?
For many companies, the go-to strategy is to lower their prices and attract a solid customer base through affordability. But if your products are of high quality and you’re not ready to operate at a loss for the foreseeable future, you might want to rethink.
Both branding and development take time, effort, and money. And a premium pricing strategy allows you to build on value instead of hype. It also enables you to see quicker returns, accommodating sustainable growth.
But the thing is, a premium pricing strategy isn’t always easy to pull off. It takes careful planning, substantial initial investments, and outstanding service that will justify the higher cost. If you’re prepared to provide these, then it just might be the right course of action for you.
What are the main elements of a premium pricing strategy?
A prestige pricing strategy includes much more than just charging more than your competitors. In a way, you must take care to justify the higher cost by calling attention to all the advantages you offer compared to your competition.
First of all, this means in-depth market research. Studying your competition, as well as identifying hidden customer needs, will give you clear indicators regarding your main selling points. These could be anything: premium materials, 24/7 customer support, same-day shipping, exclusivity, or even ethical and sustainable production processes.
Secondly, you’ll need to invest in branding and marketing. You’ll want to create a brand image that reflects the added value you’re offering. Call attention to your expertise, experience, and the financial stability of your business. Letting potential customers know that they can count on you for years to come will boost sales by attracting individuals who are looking for trustworthy brands.
Where does website design come in with premium pricing?
A strong online presence is a must in 2020. But having a website and a couple of social media profiles isn’t enough – especially if you’re going to be adopting a premium pricing strategy.
Absolutely every aspect of your company (online and offline) must exude exclusivity. And website design can help a great deal.
Think of it in terms of a high-end brick and mortar store. You’d choose a premium location, hire a great interior designer to plan out the layout, invest in the best equipment and design elements, and train your staff to provide an experience second to none.
The same principles should then be applied to your website. It needs to look professional, be attractive, and work without a hitch. Moreover, it should allow your customers to quickly and easily find the info (or products) they’re after, and ensure that everything they want, and more, is delivered.
What web design elements should you invest in to enable premium pricing?
If your website was built with quality and growth in mind, you already have the foundation you need to make it exceptional. If, however, it underperforms in terms of functionality, UX, and optimization, you’ll need to start from scratch. In the end, it’s going to be both quicker and cheaper than trying to fix something not built for the purpose you’re after.
The top elements you will want to focus on include the following:
1. Overall design
Just as you’d want your customers to have a pleasant experience at your physical location, you’ll have to provide the same thing online. This will mean adjusting both the look of your website, but also its functionality.
First and foremost, you should try to choose an elegant, ideally minimalistic design. As the homepage determines the first impression your visitors will get, you want it to reflect the values and quality you offer. For example, a SaaS company could look up to the company Aura, whose dynamic header video suggests high-tech sophistication and a future-oriented approach.
Image source:: goaura.com
2. Ease of use
Pay special attention to navigation and search features, so that visitors have an easy time going from one page to another. Provide complete data regarding your physical location, collect all relevant information in a FAQ section, and make the most of menus and the footer.
Furthermore, your website must be built with the end-user in mind. Current estimates show that over 50% of users access the internet on their mobile devices. So, obviously, responsiveness should be high on your list of priorities. Your mobile and desktop sites should be equally usable, as is the case with Ultimate Meal Plans. While the elements are redistributed when shown on a smaller screen, there’s no loss in terms of data visibility or user experience.
Image source: ultimatemealplans.com
Of course, don’t forget about page loading speeds, which should be kept to an absolute minimum. Research has shown that load speeds over the average 2.6 seconds increase the chances of having a high bounce rate. So, ensure that all page elements are optimized, as well as that anything irrelevant is removed.
The third key feature of a well-designed premium website includes search engine optimization. Although it’s a time-consuming process, its power lies in its ability to boost organic traffic. A well-optimized website won’t just outperform your competition. Even more, it will help lower your marketing costs, allowing your customers to come after you, not the other way around.
The most important thing you’ll want to do is identify the short-tail and long-tail keywords that you should target. Include them in your copy and high priority headings, as well as in meta tags.
It’s also advisable to build the authority of your website by investing in evergreen, shareable content. Furthermore, optimize all page elements, including visuals and videos, to boost your SERP rankings.
4. Social proof
If you’re building a brand that’s going to adopt a premium pricing strategy, you’ll need to prove that you’re worthy of a cost that’s higher than that of your competitors. While quality, customer support, and user experience features do make for the best of proof, you might not want to disregard other effective strategies either.
Influencer marketing can play a prominent role in generating user desire, especially if you choose collaborators whose reach is wide and who are considered to be authorities in your niche. Just think of Nike’s Air Jordan line. And while you could save influencer marketing for your social media profiles, it could also become one of the main selling points on your website.
Adding a user-generated content section to your homepage, you can show potential visitors that your brand is trusted not just by regular people, but by the very celebrities they look up to. This is exceptionally done by mattress brand Zoma. Their homepage includes a “Trusted by athletes” section, which shows off professional sportsmen and women using the mattresses developed for fitness enthusiasts.
Image source: zomasleep.com
A word of caution about web design and premium pricing
Some of the world’s most successful companies have built their reputation on premium pricing strategies – luxury fashion brands, car manufacturers, and even tech giants like Apple with their $700 wheels kit. But many have also seen consumer pushback when trying to jump from budget-friendly to premium prices.
Image source: apple.com
So, before you pump up the price tag on your bestsellers, make sure that the changes are 1) reasonable, and 2) backed up by real added value.
Of course, don’t forget that whether you’re just entering the market or trying to appeal to a more sophisticated audience, all your marketing channels need to reflect your status as a trustworthy, premium brand. And what better way to do that than by starting with your website?
About Travis Jamison
Travis Jamison is a founder, investor, nerd and proud pug-parent.
His investment group Smash.VC Partners with bootstrapped “lifestyle” businesses and helps them grow.
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