When They Ask What's the Price?
Aug 27, 2024What's the price?
Salespeople have been dodging this question for ages.
But dodging a buying question is foolish.
What's a buying question?
Any question that guides us toward a sale.
Prospects need to know the price in order to buy.
Telling them the price gets you closer to closing.
Is it ideal to display value before sharing price?
Perhaps.
But not disclosing price when asked is more harmful than the order in which it's disclosed.
It's 2024, your pricing should be on your website.
If it's not, at least be willing to disclose it when asked.
There's no combination of words that will amount to anything other than "we make up price based on what you're willing to pay".
Modern buyers are too smart and too impatient for these games.
Transparency wins in modern day selling.
Time to let go of old school sales tactics.
It used to be acceptable to push the pricing conversation to the end of the sales process, but modern buyers are accustomed to transparency and they don't want to play the same games that legacy buyers were willing to play.
Do whatever you can to create a transparent and simple pricing model. The only common exception is very early stage startups where you're still figuring out the right price, but even then I'd say pick something, publish it publicly, and iterate every 6 months until you feel you've nailed the right pricing.
Over-complicating it usually means you're thinking about it the wrong way. It's not about charging as much as you can, it's about charging a rate that fits the segment of the market you're going after and achieves your margin target.
You'll move and grow much faster the sooner you stop wasting time dodging this question.
Happy Selling,