A business owner inquired “Often when I’m in a meeting with a customer, the first thing they say out from their lips is “Well, what do they charge you for the services?” She further stated that “I have a variety of jobs. I don’t only do only one thing. I’m afraid that I’m not given an opportunity to communicate the true worth of what I do. What’s the most effective method to answer?”
This is a fantastic question because most business owners do not take the time to consider how they’d respond to the question “How many dollars do you want to charge?” or “What’s the cost that you offer your products?” It is crucial to be aware of what you do in response to this as the way you respond can actually decrease your sales, and sometimes dramatically.
The price will vary based on
For example, if enter a department store and inquire with the salesperson “How do you price your products?” They’ll probably reply, “Well, what are you searching for?”
If you were even more specific and visited the department of shoes, you would go straight to the salesperson and inquire “How many dollars do you cost for shoes?” They’d say, “Well, what are you seeking? Are you looking for dress shoes, flat shoes, sandals, etc.?”
They’d ask questions and, once they’ve figured out what you’re seeking they’ll show you the best choices and their costs.
Price is a question that is too early to be answered.
Here’s an excellent illustration of how the price could be a question that is too late. I recently had a conversation with an interested client who asked many questions about the issues they wanted to resolve within their company. After the conversation, he asked, “Well do you want to explain to me the types of services you provide with your coach services?” In reply, I said “Based on what you’ve shared about the goals you’re pursuing in your current business There is no way that the services I provide would be the best fit for you.
It’s crucial to recognize how the response to “What you will charge to provide your service?” isn’t a valid answer until you understand what the client’s requirements are.
Shift to asking questions.
If someone wants to know “How can you estimate your cost?” It is best to answer “It depends. I’ll offer you a couple of options. May I ask you a few different questions?” According to my experience, everybody answers “Yes” to this question.
From here it is time to focus on finding out what the prospect is trying to solve or resolve. When you are able to understand the issues they face or their burning desires are, and also realize that you could actually help, then only do you introduce the topic of price. Don’t need to address the question immediately since, in reality, it’s too early.
Which price and offer are available to share
We often make the error of sharing our complete pricing and offers with potential customers. If you ask the right questions, you can determine which offers to make available to your prospective client. The conversation with questions gives you the chance to make the most effective deal. Your offer is based on knowing what the customer is looking for and what challenges they face that they want to achieve by making the decision to invest in your services.
If you learn the issues they’re trying to tackle, you’ll be able to determine which particular programs, offerings or services will be the most appropriate to satisfy the needs they’ve identified. The price you pay for your services is contingent on the answers they provide in the form of questions.
That’s why when asked, “How is your price?” Your answer should be “Well I’m charging various prices. Would you mind if I asked you a few questions before I ask?”