Eric Deeran walks through how to respond when a prospect asks for a lower price. Before dropping your rate, ask what competitor quote they're comparing you to and whether that service actually matches yours. Then shift from cost to outcomes: does the prospect want the cheapest option or the results they hired you for.
Okay, let's say the prospect says, "Eric, can you just give us a better price on this?" This could happen at the end of the sales call, it could happen in your follow-up later down the line, it could happen weeks afterwards. Let's say the prospect just says, "Can you give me a better price on this?" What do you do? First thing we want to do is clarify, and we want to figure out what's behind that. So the first thing I'm going to say is, I'd say, "John, can I ask what's behind that? Just so I understand." And then prospect says, "Well, you know, we got a quote from XYZ company, and they said they would do it for this much cheaper. I'd say, "Oh, what quote did they give you? And could you go over the proposal with me in detail?" I'd say, "Can you go over the proposal with me in detail just so I understand?" or "What exactly did they tell you they would do?" and I'd act curious with a curious tone there. Now, you want to ask this question because the prospect could be making things up here and they could just be telling you these things to try to get you to drive down in price and you're going to find out here if they can't give you any details. The other thing is they could be getting a quote for a service that's completely different than what you do and and you need to point that out in this point. So let's say that they show you everything. I would then say, well, thanks for showing that to me, John. It really just depends on the type of results that you're looking to get. I guess, is price the most important thing or actually getting those results that you said you wanted? And prospect's gonna say, well, you know, obviously getting the results is important, but, you know, price is important as well. I would say, sure, could I make a suggestion? Prospect would say, well, yeah, sure, go ahead. Now in this example, you could say, well, what they quoted you for was for XYZ and we're giving you ABC and we could give you that same exact quote, but like I said, it really just depends on the results that you're looking for here. So in this example, let's say we're talking about a brand film. I'd say, you know, we could definitely do a brand film for XYZ amount that they quoted you, but the biggest thing that we've seen is that when we do them for that little, typically the clients are not getting the results that they want and they're having to redo the brand film later on anyway. And that's why we prefer to do it the right way the first time. And yes, it is a little bit more expensive, but typically our clients find that they're able to not have to replace that brand film, and they also are able to portray their, their company in a way that feels more authentic to their brand because they're able to authentically kind of capture their brand. Does that make sense, John? So I guess what, what's more important to you? Is it getting a video that's going to help solve kind of those short-term problems, or would it be more important for you to solve those problems for a longer period of time and reflect your brand in a way that you feel like is authentic? I guess, what do you think is more important to you and your brand?
