How Will You Respond To A Prospect Who Asks About Price?
When you’re a salesperson, there’s nothing like the feeling when your inbound line rings. When prospects call you, they’re actively seeking you out, which means they have a pre-established interest in the goods or services you sell.
One of the most common questions prospects will open the conversation with you is, “How much does your product or service cost?”
When you field an incoming call, how do you normally respond to this familiar question? If you’re like many, you explain your pricing structure and tell your curious prospects that they can get X, Y, or Z for an affordable fee of just X number of dollars per month.
While that typical reply certainly answers the question, it will normally elicit a response that goes something like this, “Thank you for the information. I’ll need to think it over and get back to you.” How often have you heard this but never could reconnect with the prospect?
The mistake many salespeople make is taking a prospect’s question about price at face value. When prospects call you, they want to learn more than your prices. They want to know if what you sell can solve a problem they’re experiencing.
What to Tell Your Customers
Instead of simply answering the question that’s asked of you, you should seize the opportunity to tell your prospects what they really want to know – that you care about solving their problems. You can do this by asking them what prompted them to call you, inquiring about the obstacles they’re trying to overcome or discussing the issues they’re trying to resolve.
While asking probing questions will take more time than merely presenting a buffet of pre-packaged options and the relevant price for each, doing so can make a big difference for you and your prospects. In fact, it can turn your anonymous prospects into long-term, lucrative clients who see you not as a saleperson, but as a valued contributor on their team.
The next time a prospect immediately asks you about your price, how will you respond?
Try this, “We have a number of options available. So that I can answer your question, what’s prompting your call?”
Many times this question will shift the conversation about price to what your prospect values.
Tips on Value-Selling
Overcoming Price Objections
I like this approach. I don’t feel I am on the defensive, having to talk about price right away and then lose control of the conversation.