When prospects ask you the question: "What's your price?" the worst decision you can possibly make is to answer that question before you have added value.
When prospects prematurely ask me my price, I do everything in my power to dodge the question and begin asking questions of my own that I've designed to raise the odds that the price I eventually do quote will go uncontested. Here are a few examples:
- "Before we get into pricing, please tell me a little bit about your business."
- "What techniques do you use to attract new customers?"
- "What obstacles do your company's salespeople face that prevents them from achieving their full potential?"
- "What do your prospects tell you is the number one reason they buy material from one of your competitors instead of you?
- "Would you please tell me the biggest challenges you believe your salespeople are currently facing."
Why am I asking these type questions? Because my goal is not to quote the
prospect, it is to earn the right to quote by differentiating myself from the
other salespeople who are soliciting his business. My goal is to find out what
I can do to help this customer or prospect. The primary way I earn a prospect's
business is to first do something for my prospect that he can't do for
Most salespeople answer the price question the prospect asks and they answer it prematurely. When they do so, they have given the prospect an open invitation to tell them that their price is too high.
The salespeople themselves must be skilled at asking good open-ended questions and delivering the resources that the builder customer needs to win the battle for business in his respective market.