Q: “When they ask you for pricing on the first call – do you tell them? I feel like I should have waited, but didn’t know how to address.
This was a question submitted by a non-traditional sales rep who I’m coaching.
What’s the right answer? It depends.
If you are a one and done sale, yes give the price.
For everyone else, the better rule of thumb is to wait.
Wait because once you give the price you are done.
Most likely in the short time you’ve been speaking you peaked some interest, but you didn’t have the time to uncover this critical information to solidify a sale:
- Build the value of you, your company and your product
- Discover the importance to shift from the before state to the after state
- Learn the upsides and downsides of buying a solution like yours
- Identify key drivers and criteria to solve the problem or need
- Understand the internal buying cycle
See why it is too soon to offer a price.
They have the price and you don’t have any of the critical information to marry your product or service to their situation.
So instead of getting tongue tied and thinking you better answer with a price, consider responding with a variation of these options:
- Since you are asking for price, I seem to have peaked your interest. There are a variety of pricing options all depending on your unique situation, which components you really need or don’t need and more – can we explore
- You’re probably like most of the companies I work with and want to maximize your investment. Since the price could be anywhere for $10,000 – $500,000, can we take some time to evaluate your unique situation and design the right package for you?
- Price is generally a key driver in the buying decision along with the company you select meeting all of your key criteria. Just like your sales reps when they sell, there’s not one fits all price. Your interest is peaked, let’s review our calendars to meet and build the best solution for you to (insert their key need), at no obligation to you and then I’ll be able to provide the best investment for you to achieve your goals.
Answers like these don’t just roll off the tongue easily. Take a few minutes to write out what you would say to defer the cost with a benefit to them.
It’s not about ignoring the price – it’s about presenting the price when your value outweighs the price.