When verbally communicating your price, state the absolute amount. Don’t give it in a “round number” or a generality. Doing so weakens the confidence the customer has in you and will only serve to raise questions.
Stating your price in absolute terms is a key way to communicate your confidence in what you’re selling. In fact, when I’m working with clients on their pricing strategy, I recommend having their pricing be an uneven amount. When you state your price at an odd amount, it is perceived in a way that states, “we’ve done a lot of research on our pricing and this is what it is.” For example: $500 is a poorly stated price. $547 sounds more convincing, plus you’re making nearly 10% more.
If you’re looking for training on how to successfully execute a price increase, check out my sales training program entitled, “The Pricing Advantage”. You can access the information by clicking the following link: “The Pricing Advantage”
