Prospecting Dilemma: The Question About Price

How quickly should the topic of price come up in a prospecting call?  I’m sure you’ve faced this issue. You’re having a first or second conversation with a prospect and the issue of price comes up, and suddenly you’re in a prospecting dilemma about what to do next.

Have you ever parked your car in a manner you would not be able to get it out?  No, you’d never do that.  Same thing applies with prospecting. You never want to go into a prospecting call not knowing how to get out of it.

Don’t view the issue of price to be a one-way conversation where the customer is in control. You have the ability to stay in control if you’ve been pro-active in asking questions that get the prospect to reveal the needs and outcomes they desire.

It’s a big mistake going into a prospecting call and not being willing to ask questions that will get the customer sharing their needs. Now, don’t think this means it’s about the specific product they want to buy. No, it’s just the opposite. It’s about why they are looking for what they feel they need to buy.

Regardless of where the prospect is in their buying journey and regardless if they came to you via an inbound lead or an outbound call, it’s still about their needs.

Asking questions focused on the why and their needs early in the prospecting process is the only way to get it out on the table.  The sooner you have this out on the table, the sooner you’ll be prepared to handle any question they bring up regarding price.

Check out this video of a situation I found myself in dealing with price early in the prospecting/selling phase.

The salesperson who fails to uncover early the reason the prospect is talking to them is setting themselves up for failure, because they won’t have a solid response if price comes up.

Don’t look at price as a cost. Look at price as an investment.  It’s an investment designed to help them achieve the outcome they desire.   The way you handle the issue of price is by linking it back to the outcome the customer wants. 

Remember, it’s never that your price is too high. No, it’s an issue of your value being too low.  Raise your value and you can raise your price, and it starts in the prospecting phase.

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