Kurt Sima, on February 26, 2019
Talking about price with a new business prospect can be tricky. If you do it too soon, you might scare away a prospect. If you wait too long, the sticker shock might blow your proposal out of the water because it exceeds reality.
Here’s a list of recommendations and things to consider about the topic of price along with three effective ways to prompt the conversation (including some easy to use ROI formulas).
John Henley, on January 31, 2018
If you are in sales, you can’t avoid price competition altogether, but you can take steps to reduce the focus on price. You need to behave in such a way that you are working with the prospect to create specific value, using your product or service as part of the solution. The alternative is that you present general value by pitching your product or service as the solution—inviting the type of product comparisons that lead to price negotiation.
Creating specific value for each customer BEATS presenting general product value to every prospect.
Demrie Henry, on May 2, 2012
Let me create the scene: you’re meeting with your new prospect for the first time, and your goal is to build rapport and begin a needs analysis that will build your credibility as an expert in your field, and as someone who really cares about their business. You want your prospect to believe you’re someone who can truly help them solve their complex business problems. To accomplish this, you intend to metaphorically put yourself behind your client’s desk to uncover key challenges and prime opportunities their business is facing so that you may become their partner and work with them to create customized solutions. You’re completely prepared for the meeting and you know exactly how you’re going to lead the meeting. You sit down, exchange pleasantries and your prospect says… “Let’s just cut to the chase. Tell me… how much is this going to cost?”
