Eleven ways salespeople can respond when prospects ask for a price. The best approach combines honesty with asking questions about what they actually need, so you can give an accurate quote that builds trust instead of scaring them off with a number that might not fit.
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The dreaded price question comes in many variations. Just tell me the price. How much does it cost? All I want is your best price. Can you just give me the price? How much is it? All I'm looking for is a price. What is your best price and how much? When was the last time you were asked one of those questions and what did you respond? So here's some expert advice on what to do when the customer asks the dreaded price question. Version number one just tell them the price. According to a HubSpot senior account executive, honesty is the best policy. When confronted with this question, she says it's simple. When someone says, just tell me the price, I just tell them the price. Someone who says that clearly has their guard up. This person likely doesn't want to be sold. You won't get anywhere trying to dissuade them from jumping right into pricing. They'll likely dig their heels in even further and feel like you're hiding something. Version number two goes something like I would be happy to, but there are so many different options and the last thing I want to is to provide you with incorrect information. Can you tell me a little bit about why you need the product or service? Mark Hunter describes the objective of this response as twofold. First, get them feeling you're doing them a favor by helping them and and second, uncover their real need. Version number three is a long one. As a fellow consumer, I understand that you need to know the price to understand if your product is even viable for your company. We offer ways to get started with our product for free, and some of our customers are paying us as much as this many dollars monthly. The last thing either of us wants is for you to get an inaccurate quote. So would you be open to scheduling another call where we nail down the use case and then I can give you an accurate price that most closely resembles your current need. Michael Brinberg says that when a prospect asks you just to tell them the price, they're asking this question to simply gauge if they should even take another call. With a freemium or a free trial model, it is easy to share how it serves both parties to further understand the nature of their needs and how you can best accommodate them. Both sides of that conversation will be helpful in telling in terms of the kind of pricing structure you can present to them. Version 4 Tell them three prices, a low, a medium, and a high. You're painting a range without actually quoting. If you get an objection to the low price, walk. Otherwise, move on and focus on addressing the client's needs Version number five is another long one. I hope that you've had a good experience here today. I want to convey that I'm wholeheartedly dedicated to selling you this product, and I want you to know that I will do whatever I can to earn your business. While I'm confident that the quote I've provided you is both fair and competitive, I understand the realities of buying in the 21st century. If you do receive a lower quote from another company, please reach out to me before making a decision. Again, I don't think that another company will quote you less, but if for some reason it is, please think of contacting me before making the purchase. Andre Smith calls this to be human when in doubt, honesty is the best policy. People buy from people they like. Being upfront, honest and genuine. Works two more versions, 6 and 7 number 6, at this point we should be able to work something out for under a million dollars. Version 7 Would you ask your new doctor to give you a price quote on surgery before the initial exam begins? Are those clever responses or deflection? Are you risking to annoy the client? Probably all of it, and how well it is received depends entirely on the client and only a little bit on your delivery. When price questions are not immediately answered, buyers do get suspicious. They assume they will eventually be quoted an inflated price. This suspicion makes them guarded. The more you withhold, the more they withhold. As you proceed with your needs analysis, you won't get all the information you need to accurately quote a price. They don't want to equip you with information you can use to inflate the price. In addition to being counterproductive, causing mistrust and erecting a barrier between the buyer and seller is inefficient. Version number eight, the preliminary price is this, and it includes these features. What criteria other than price will you be using to make your decision? The response is a preliminary price and a question. Unless your prices are fixed, use the phrase preliminary to signal that there may be some movement in the price. Don't make up a number low ball or play fast and loose with the true pricing. Version number nine, the preliminary price for this option is this. What it means to you is that you'll have these benefits. How important is this to you? Respond with the price for one option, tying it to a benefit. Notice the lack of hesitation or deflection or apologetic language. Your confidence in the way you state your prices is every bit as important as the price itself. Version number 10, the preliminary price for this package is. I think this is the right package because of what I know so far. Let me ask you some additional questions to confirm that I'm on the right track. You respond with the price for one option that is personalized based on what you know about the client already. It still leaves the door wide open. Version number 11 the preliminary price is this, and we can honor this special offer for 48 hours. I'm mentioning this because it sounds like the price is important to you. What will the impact of this cost saving opportunity be on your decision making process? Respond with the price and a timeline and you're creating a sense of urgency. If you're selling a price not exclusively yet, the sense of urgency by way of a deadline is invaluable. A prospect being blunt and hitting you with just tell me the price can be imposing, but it doesn't have to throw you off your game. If there's anything, it's that honesty and pushing for more context is always the best policy. Be upfront, but you can also need more information to present a fair, accurate estimate. Then ask for it. Try to have a more thorough conversation to understand your prospects, business operations and the needs that come with it.
