The Price Isn’t Right

It’s human nature to want to know the cost of something before committing too much time and energy to the decision-making process. But the best sales professionals know that revealing the price too soon will almost always backfire.

It isn’t easy to resist, but you must. No matter how much that prospect begs, pleads or blusters, never give out price information until you’ve demonstrated your value proposition.

Turn the tables by countering with questions of your own that nudge them gently away from their single-minded focus on price to also consider quality, value and trust.  For example:

  • What are your expectations from this product or service?
  • What are your must-have features or criteria?
  • Are you seeking to replace an existing solution and why?
  • Tell me what you liked best or least about that existing solution?
  • Have you set a budget for this acquisition and how did you arrive at that dollar amount?
  • What services beyond the sale do you expect from the vendor you select?

Once you’ve uncovered the jam they’re hoping to get out of, you can establish your product or service as the solution to their problem. Show how it has helped others save money, increase productivity, boost sales – whatever addresses the real reason they are shopping in the first place.

Their needs aren’t cookie-cutter and neither are your solutions. Set that tone from the start by educating your prospect on the difference between shopping for price and shopping for quality. They’ll thank you for it.