16 Jun 2014

Sales Tips: How to Respond When Asked for Pricing ?

By John Holland, Chief Content Officer, CustomerCentric

16 Jun 2014

By John Holland, Chief Content Officer, CustomerCentric Selling®The Sales Training Company

Image courtesy of Pakorn at FreeDigitalPhotos.net

pricing

Many sellers hurt their chances of winning opportunities by providing pricing too soon. Often these are self-inflicted wounds caused by mentioning products prematurely that prompts buyers to ask:  How much is it?  The underlying issue is that before establishing value, any pricing that’s shared is going to seem high.

If buyers ask about pricing before value has been established, my suggestion is to indicate that you would prefer to better understand their needs before giving an estimated price. That will usually be deemed reasonable. If buyers persist, you have a choice:

  1. Provide a range of costs
  2. Provide a “not to exceed cost”

I prefer the latter because in my experience, weeks later buyers invariably remember the lower number when given a range.

Once value has been established, sellers should consider providing estimated costs. Price is a qualifier and buyers should be aware of “ballpark” pricing relatively early in buying cycles to minimize the chance of wasting their time and the sellers’ time. 

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