In a nutshell...
Some will say that this is a bias but I don't think so.
"How much does it cost?"
"It costs 100€ per month..."
This goes against most of the sales training I've had the opportunity to attend or any discussions I've had with some of you.
At Modjo, we like our prospect to know the price as soon as possible in our sales cycle.
Avoiding the subject of pricing can create unnecessary anxiety.
"How much does it cost?"
"Then don't worry, we'll see the subject of price at the end..."
Why wait?
There seems to be something awkward about your price.
With this time bomb method, this is the message you are implicitly sending.
"If I tell you the price now, you're bound to tell me it's too expensive.
The main reason we like to address the price as early as possible is that it gives the prospect time to get used to it.
The Maximum Price :
When asked "how much does it cost", this is what the more experienced among us say:
"Before we go any further, how much does your service cost?"
They give the maximum applicable price:
"Well, if you want our most comprehensive offering that we have, the most you can pay is €8,999 per year. So for that level of investment you can imagine that our existing customers have good reason to trust us every year..."
Some people will say:
"Okay, it's a little more expensive than I thought but let's move on"
Others will say: (and for those, you'll be happy to stop there. Don't waste time).
"Ok, this is off topic, goodbye"
And the vast majority :
"Wow, we'll never pay that, it's 10 times more expensive than I thought".
You can answer :
"Yes, I understand. I give you the top of the line and believe me, our existing customers have the choice every year to renew or not and almost all of them renew their trust in us. So if you want we go on and I'm trying to prove to you that it's worth it?"
Little house tip: notice that top performers say"the most you can pay..."
Why? Because the real price is likely to be lower.
Your prospects will breathe a sigh of relief when they hear your real price... after deducting discounts or services that are unnecessary for their use cases.
But wait, this is obviously negotiable...
Careful, you've probably heard this advice before. We know we should never say "never" but this is the exception that proves the rule, so we assume.
Never say:
"The price is 2500 euros, but...".
By doing this, you have just confirmed to your client that you yourself find your price unreasonable and that no one would pay that price except a ...
Usually you even launch into a monologue of justification.
Just say: "The price is 5000€", as if you had just told them the time...
Again, the worst case scenario is that the person you are talking to says "it's expensive".
If you don't feel comfortable negotiating, that's another matter and here are 3 tips that may take you to another dimension.
For the best of us, the subject of pricing, in addition to being addressed much earlier in their sales cycle, does not last long.
TV discomfort
This has already been mentioned above. But how do you react when you are asked about the price?
In general, one learns to push the question away or to brush it aside. Example:
"We'll get to that in a moment.
Or again:
"I'm glad you asked me that question! But we'll come back to that later.
First mistake : we said no "but". We just talked about it above.
Secondly, there is now an uneasiness in the exchange because the prospect wants to know, he wants to project himself in this price and believe us he will listen to you better if you tell him.
He will think about the price until you finally approach him.
Be honest, give him the price.
The best of us also receive prize objections...
They probably have better arguments to respond to them, but what makes the difference is that they receive them much earlier in the sales cycle than the average salesperson.
Giving the right price
"You want the price? No problem."
One word: nonchalance.
Unfortunately, this time we will not have any data to prove it.
But you know as well as we do the "non-verbal" tools for persuasion.
Body language, tone and volume of voice, and a lot of other things that help you in your closing.
All these tools are extremely useful, especially at the time of the price.
This is the time to lose your chalance: announce the price as if it were the most natural thing in the world and that it was a price they would expect. A price, nothing more.
In fact, you need to make it sound like the last thousand people you've talked to on the phone or video conference have taken it without question. As if you weren't trying to convince him because that's the way it is.
In short, be detached, don't change your tone of voice, in short, be yourself, serene, calm, at ease.
If you hesitate, if you shift in your seat... or if you change your speech in any way... You are indicating that something is wrong. And that is something to be avoided at all costs.
It's a bit like that in closing. You have to give the impression that you expected what they are asking for, and that it is part of the buying process. Don't act surprised.
Here, in fact, you are asked to work on your "ethos" as the bigwigs of the Roman Empire used to say. You have to show yourself as a legitimate and ethical bastard.
Yes we can.
And if you want to discuss it... I am available.
Best.
