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Influencers Invited Sales Blog

How to Handle the Price Question

I receive emails all week long asking me how to qualify prospects better, how to stay in control when the prospect is blowing you off, how to overcome initial resistance, how to get to the decision maker, etc., etc.. I like to call those reps back that actually leave a phone number, and when we do a little role playing I find out the same thing over and over again – They are all winging it!

Unbelievable as that may seem, it’s completely true. In fact, ask yourself how many written down responses you have to the common blow offs, put offs, and objections you get every single day. And if you actually have some in a drawer somewhere, how often are you using them??

Let me tell you right here and right now: If you want to be a Top Sales Producer, You MUST script out effective responses to the questions and objections you get every single day. If you think you don’t need to do this, that you’ve been in sales long enough to know what to say, and that you are doing fine without them, then I’ve got a little test for you:

What do you say when your prospect asks you about the price of your product or service? In other words, after you give them the price, what do you do? Do you:

  1. Remain silent and wait for them to ask another question?
  2. Keep pitching the benefits of your product or service?
  3. Or move onto another qualifying question?

If you’re honest with yourself, you probably do one of the above, don’t you? If so, then I know you’re winging it because all of these responses are wrong. And if you’re doing any of these, you’re missing a golden opportunity to find out where your prospect stands in regards to budget.

You see, the Top 20% follow a script and because of that, they are sure to do the next right thing. And that is: Ask them how they feel or where they stand in regards to the price you just gave them. Use any of these:

  1. How does that price sound to you?
  2. Is that within your budget?
  3. Which of those price points appeal to you the most?
  4. Is that what you are looking to spend?

Whenever your prospect asks about the price, and you give it, you deserve and must qualify on how that sounds to them. The Top 20% automatically do this, and so learn valuable information about whether or not this prospect might or might not be a deal.

The other 80%? They are still trying to guess whether or not their prospect is real, whether or not they will buy, and they have no idea of how to proceed. In other words, they are winging it. And if you are still winging it, too, you’ll never move into the Top 20%.

About the author

Do you have an underperforming inside sales team? Talk to Mike to see how he can help you and your team reach your revenue goals. To learn more about Mike, visit his website: http://www.MrInsideSales.com