If your product or service provides definite benefits that the prospect desires to have, yet it isn’t competitively priced, then it’s helpful to avoid answering questions about price until you’ve established value and demonstrated some of the benefits that the prospect will receive.
So, if you’ve just started your presentation and the prospect quickly asks, “How much is it?” you can respond with this:
“It’s nice to know that you’re already interested enough in the ___ to think about the price. And when I get to that in a few minutes, you’ll be glad you asked.”
Then, you simply continue with your presentation by describing the benefits in a way that make the price seem like an excellent value.
But, if the prospect starts to get impatient and asks for an answer again in another minute or two, you can respond with this:
“Jim, I appreciate your concern, and please know that I’m not trying to avoid your question. But until we find out, as a result of our discussion, what your specific needs are, it’d be difficult for me to give you an accurate answer.”
“You see, at this point, if I give you a figure and it’s too high, then you might lose interest. On the other hand, if it’s too low, then when I give you the true figure you might be disappointed.”
“And I just don’t want that to happen to you. Does that make sense?”
At that point, just like before, you simply move back into your presentation of benefits.
If, however, the prospect asks about the price for the third time, it probably won’t help if you stall the issue any longer. So now, in this case, you can meet it head-on by giving them the highest possible price, which includes all of the features, benefits, and bells and whistles that come with your top-of-the-line product or service.
You can do this by saying, “The highest possible price is $___. But, there’s a good chance that the actual amount will be less, once we find out what your exact needs are. And my guess is that you want this solution to meet your needs, isn’t that right, Jim?”
Wait for the prospect’s answer, and then move back to explaining the benefits.
Now, if the prospect indicates that the price you mentioned is about what they expected it to be, or even less, then you can wrap up the conversion by asking this: “Well, since this ___ does what you want it to do, and it’s within your price range, would you like to get started with it today, or do you have another date in mind?”