Giving your price to a customer can be incredibly stressful.
It doesn’t have to, if you have a plan and are confident.
At the core of the process is being confident that what you are providing your customer is going to help them achieve an outcome they didn’t realize was possible.
1. Present as a solution.
Customers don’t want to buy anything, but they will invest. When you give the price, share with the customer one sentence as to how what you have to offer is going to help them overcome the issue they have.
Don’t go on and on with your explanation. Doing so works against you, as it tells the customer you’re not confident. Keep your solution short!
2. Use your body language.
If your body language doesn’t show confidence, why would a customer think the price is reasonable for what you’re offering? Few things will cause more fights over price than a salesperson who doesn’t display confidence with their body language, eye contact and voice.
3. Present an “ultra-high” offer.
Before giving the customer the offer you want them to take, present an offer that is far more expensive. Idea is it allows the customer to contrast the two offers, making the one you want them to take seem like a bargain.
4. Don’t ask. Tell.
Why should a customer accept your offer if you “ask” them? Never ask. Tell! Telling the customer your price is a key way for you to demonstrate your confidence.
5. Present as a total cost of ownership.
The price you’re asking the customer to invest with you today is often a small piece of the total cost of ownership. If this is the case, as you present your price, be sure to include what the long-term cost of ownership is. For big-ticket items, this approach is absolutely mandatory.
Use these five strategies not just individually, but collectively, as that is what makes these five strategies so effective.
Too many salespeople go into the closing phase without a plan and lacking confidence. For years I have been saying how presenting your price properly will do more to improve the bottom-line profit you make than anything else.
Copyright 2015, Mark Hunter “The Sales Hunter.” Sales Motivation Blog. Mark Hunter is the author of High-Profit Selling: Win the Sale Without Compromising on Price.
I had a problem with the fact that I had used to work on commission basis at SafeStreets, USA, which was an authorized dealership for ADT, and they weren’t offering the many other things for free that our competitors were offering and it was advertised in the newspaper and people then thought that we were fraud, so it was a whole misunderstanding that another provider would offer more than what our company had been. I think the other company was Protect America or something like that, anyway what would I have been able to tell the customers to overcome that sales objective they were having over what we would be trying to have them invest in the security products whereas the other competitor was having much more free things?
Hello Mark. In relation to the selling of business consulting services; can you expand on #5. “Present as a total cost of ownership” ? Is the customer investing toward the ownership of the outcomes targeted in my solution(s) offered? Since a client/customer’s long term success in outcomes (ownership ?) is largely hinged on his/her resolve to utilize and maintain said solutions.
Thanks. – Terry
BTW: Liked the article; thanks for making it short and right on point!