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| What is your pricing for "X"? |
This is a question that comes up a lot on sales calls and one that you want to handle with care. As I have mentioned in previous discussions, inquiries are consistently motivated by underlying thoughts and do not occur randomly. There is always a specific "context" from which these questions arise, and enhancing your comprehension of this context will increase your chances of formulating the correct response. When I suggest that we work to create the "right" answer I don't mean that we are trying to fool anyone. Often, when we encounter questions, there are several possible answers, and we aim to increase the probability of selecting the correct one.
When addressing inquiries regarding pricing, it is essential to respond to the question "within context." Typically, to grasp the "context" surrounding the inquiry, it is necessary to pose additional questions. Also, you'll often find that the question "how much do you charge" is really not the real question. Engaging in a conversation with the potential client regarding their needs will shift their focus away from pricing and provide you with more valuable insights. Using a "reflector" or reverse will help you understand the real question.
Of all of the "reflectors" or reverses that we teach in relation to price one of the simplest has turned out to be one of the best. When asked about price try "...it depends". This straightforward statement possesses a remarkable ability to address numerous inquiries regarding pricing. The cost frequently relies on various factors such as:
When do you need it?
How many do you need?
What kind do you need? (good, better, best?)
Another great reflector, particularly effective on the telephone for inside sales people is "while I'm looking it up did you select that item for a reason?". Often times prospects calling in for a price on an item, hear it... and hang up. Engaging the prospect and getting better information will not only help you build rapport but eliminate a lot of those "get a price and hang up calls".
Discussing pricing prior to comprehending the objectives of your prospect can be detrimental to sales success. By utilizing some of these straightforward reflective techniques, you will achieve improved outcomes.