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February 10, 2012 at 11:00 PM
When it comes to discussing price with your prospects, you may find it beneficial to break down the larger numbers into small chunks, such as cost per use or per week. (“And you can enjoy all those benefits for just $2.97 a week.”) The smaller the number, the more attractive it will appear. This approach helps put a prospect’s possible outlay in a much more manageable context.
If you are producing a quotation for a product or service that has multiple elements, itemize the cost for each element. This helps to build the value because prospects can see at a glance all the elements involved. The individual prices for each element will seem more manageable than the total sum.
If you have correctly identified a prospect’s requirements and proposed aligned solutions, then chances are you won’t be suggesting a Rolls Royce version of your product when the customer requires a Mini. It’s much more effective sales strategy to offer prospects something they have asked for and makes it easier for them to compare prices. Once the prospect has been able to comparison shop and is satisfied that your prices are competitive, you can build upon this base and attempt to up-sell.
Focus on the difference between what they say they are willing to pay and what you are asking for. This reduces the amount in their minds and is another opportunity to highlight the additional benefits they will gain by rising to the next level. For example, you might say, “You’ll get all these extra benefits for just [difference in price] a week more than you’re paying at the moment.”
Change the deal
