When people say to you, “How much do you charge?” Are you quaking in your shoes? Are you embarrassed? Are you nervous about what they’re going to say? Are you stuttering as you get the words out? If that sounds a little like you, then today’s article is really going to help you because we’re going to show you how to reveal your price with confidence.
Let’s start with considering how you buy. When you’re the consumer, going into a retail outlet for example, and you’re doing a bit of shopping, what do you do? Do you look at the products first or do you look at the price tags first? It’s been shown that less than 10% of buyers (this isn’t just in retail, this is products and services and businesses) consider price as the most important factor.
If you were someone who, in a retail environment, looked at the price tags first, then retailers would pick up on that and they would simply show you a collection of price stickers by the door. Now, they don’t do that! In fact, if you’ve been in a department store recently, you know that lots of effort goes into presenting the product nicely. They make it easy for you to find what you’re looking for and position the products well. This is because this works better for how people truly make buying decisions.
People aren’t making their buying decisions solely on price
You don’t shop that way and you need to remember that neither do the people you have identified as your perfect clients. Of course your prospects want to know the price, but unless that price is preceded by a list of the benefits that they’re going to get from your product or service, they have nothing to gauge the price against.
Do not be lured into premature price presentation. If someone starts the conversation by saying, “How much do you charge?” or “How much is it?” prepare a stock answer that you can have in situations like that.
For example, I say something like this, “I’ll be happy to explain all my prices to you but just before I do let me ask you one or two questions” and then I launch straight in with my first question and that’s a way of delaying the conversation about price until I’ve had a chance to gather information about the situation and then make recommendations tailoring the benefits to them.
Here are five more things that will help you to reveal your price with confidence.
Understand Your Customers Needs
You need to take time to understand their situation; uncover the cost and pain that they’re experiencing by being stuck in this current situation. You also need to discover what it will mean to them and what the payoff will be in every sense of the word – financially, physically, intellectually, emotionally, from moving to the desired solution that you have for them.
Present Your Solution
Show your prospect how what you have to offer them will help them get from point A to point B, how it’s going to move them out of this painful situation that they’re in or this circumstance that they have, and show them how it’s going to take them towards their desired end result. You want to do a very benefit-laden presentation that is really emphasising the transformation that’s on offer, the journey from point A to point B.
Emphasise the Benefits
You want to make sure you do this right before you reveal the price. Don’t just talk about the journey that they’re going to go on, and don’t just talk about the transformation from point A to point B – you want to show them what that is going to do for them. Spend some time showing them the outcome of this fantastic desired end result they’re going to get. You must, must, must emphasise the benefits.
Introduce The Price
It is said that an ounce of pre-frame is worth a tonne of reframe. At this point, you’ve had the opportunity to really set the context for the price you’re about to reveal – doing all the points leading to the price reveal makes all the difference between someone hearing your price and getting sticker shock and going, “How much? That’s so expensive” versus hearing the price and going, “Okay, wow, that’s maybe more expensive than I was hoping for, but it’s reasonable to pay considering it’s going to do all of those things.”
That reaction, I want you to know, is within your control. It’s about all of the things you do before you get to the point of revealing your price – so revealing your price with confidence is really about doing all of that stuff before you get to this point.
Give a Clear Direction On What The Next Step Is
Now, the final step, after you’ve revealed your price, you need to give a clear direction on what the next step is. You don’t want to leave them just thinking about the price. Give them an instruction, give them a direction. Whether you’re selling from an event, from a sales page or in person; give really clear directions and instructions on what they need to do to say “yes” to your offer.
Now it could be in a face-to-face presentation, where you get the paperwork out and you start filling out the form. It could be, if you’re selling from an event, you get an order form into their hands and you tell them to start filling it out. If you are selling from a webinar, you would give lots of direction on how to reach the buy button and you would send them to that page and you’d show them that page in clear instruction. Don’t assume that your prospect knows what to do – they need that direction and it has to come from you.
As you can see, when you incorporate these five relatively easy steps into your sales conversations, whether you are selling one-to-one or one-to-many, whether you’re selling from a web page, whether you’re selling in person; as you start to incorporate all the steps into this you are going to get more people to say yes.
So, I urge you to take action right now. What is the first thing you can do to incorporate this into your sales conversation? Is there an email you need to send? Is there a person you need to phone? Is there something you need to rewrite for your sales page? Is there a change you need to make to your webinar?
Go do it now, do not leave the site of a decision without taking action as Tony Robbins would say.
Would love to hear your opinions and successes in the comment section below.