8 Answers To ‘What Is Your Price?’

You know what’s dumber than spittin’ into the wind?

Being in sales and being “surprised” or “ambushed” by a prospect who asks

The fact is, sometimes, when you’re dealing with a hard-charging “driver” type or an analytical type, or even someone who is otherwise calm, sweet, and pleasant but is just under the gun so they are transaction-oriented, they may hit you right off the bat with something along the lines of,…

When this happens, especially when it happens right out the gate, i.e., before you even know if you can help them, you have some choices as to how to respond.

These choices range from:

• Smart-ass, i.e., “We don’t sell these things. We just give ’em away to people like you who are in a rush. We figure you’ll love us so much for being so efficient, you’ll come back and buy more so we can make it up on volume!”

• Columbo/confused, i.e., “Ahhh…you want a price…ahhh…already…like…right now? I mean, ahhh, I’m not even sure what you need or if we can help you.”

• Angry, i.e., “If you just wanted a price, why didn’t save us both some time and just put in a request for a quote on our website? Do you think I’m just a quote monkey sitting around twiddling my thumbs until I can serve you?”

• Vague, i.e., “Well, ahhh, it…ahh…depends…ahhh…are you wanting to buy…ahhh…now?”

The Hard-Charger

• “Our services range between $5,000 to $55,000. Is that the kind of range you’re looking for, or would it be okay if I asked you a few more questions to hone in on exactly what you need so I can give you a more specific price?”

• “Well, the advantage of doing business with us is that you only cry once, which is when you write the check. After that, it’s smooth sailing because it’s better to pay more than you wanted than less than you should.”

• “If you’re looking for a low-cost provider, I can direct you to a couple of guys who will do the job for next to nothing. I mean, who knows what their true value is better than them?”

Seek Clarity

Rather than immediately providing a generic response, it’s beneficial to gather more information first. Asking a few questions about the customer’s requirements allows you to tailor the pricing discussion to their specific needs. This way, you can offer a more accurate estimate or proposal.

Build Rapport

Acknowledging the importance of building a relationship, you can politely express the need for some friendly dialogue to establish a foundation. By investing a few moments to understand their background, expectations, and goals, you can provide a better-suited pricing solution.

Discuss Objectives

Prioritize understanding the customer’s desired outcome before delving into pricing details. By learning about their specific goals and aspirations, you can align pricing options with the value they seek to achieve. This approach ensures that the investment is directly linked to their objectives.

Offer Price Ranges

To provide an initial idea of what to expect, presenting a reasonable price range can be helpful. This allows the customer to gauge whether their budget aligns with the potential investment required. It sets the stage for further discussions while managing expectations.

Emphasize Value

Highlighting the importance of value over cost, it’s crucial to emphasize the positive outcomes that a solution can deliver. By illustrating how the product or service can address their needs effectively, the focus shifts from price alone to the value proposition.

Budget Considerations

Recognize the significance of budgetary planning in larger projects. Encourage open dialogue about the customer’s budget range, as it ensures a realistic assessment of their ability to invest and paves the way for tailored pricing options.

Tailor Solutions

To provide accurate pricing, gather sufficient information about the customer’s goals, requirements, and desired outcomes. Tailor your offerings accordingly, allowing for a more precise estimate based on their specific needs and circumstances.

Conclusion

Effectively addressing pricing inquiries requires a customer-centric approach that focuses on understanding their needs, goals, and budget. By engaging in meaningful conversations, gathering relevant information, and tailoring solutions accordingly, both parties can arrive at a mutually beneficial pricing arrangement. Remember, it’s essential to prioritize value and provide comprehensive responses to ensure a productive discussion that leads to the best possible outcome.

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