You might be thinking to yourself, there is NO WAY you can lose a sale in the first five minutes.

Well I’m here to tell you sorry but you are very wrong.

I mean honestly, we can lose a sale in the first FIVE SECONDS just by making a bad first impression.

But hey I’m not here to talk about that kinda thing today.

Remember that old adage, don’t bring up anything you don’t want the prospect to think about?

Well for that reason PRICE is something you don’t want to mention too early in the interview.

You really don’t want the prospect thinking about HOW MUCH before they think about I NEED THIS.

If you ask them how much they have to spend - they might say $5k and your product is going to cost them $10-15k.

What do you do now?

You feel anxiety, wondering how are you going to sell a $15k solution to someone who has only budgeted 5.

The buyer is thinking well Ive only got 5k so it has to be around that or I’m out.

And you are both wondering, am I wasting my time?

Talking about price too early can kill a sales interview.

OK, there are some exceptions, a client and friend of mine told me that he absolutely needs to find out a client’s budget early on.

This is because they have a tiered service offering.

There is no point trying to sell the benefits of their top tier product if the prospect would see just as much value from their entry level.

So in some industries, yes there are exceptions.

As an aside, I bought a new iPad Pro last year on the day of release.

I had been waiting for the release for about 8 months, I was totally pumped, I couldn’t wait for the day it was announced.

I had budgeted for it - about $1700 I thought -  

  • $1400 for the iPad 
  • around $100 for the case
  • then $200 for the Apple Pencil (yes Apple always gets you).

Well to my shock when it was released the iPad alone was retailing at $1700 so that totally blew my budget out of the water, the whole package ended up costing me over $500 more than anticipated.

BUT I was already sold - I was already ‘in love’ with that new iPad, so the price less of an issue.

I was willing to find that extra money to get what I had already bought in my mind.

This is what you want your prospects to be doing - buying the solution before they hear the price.

We don’t want the prospect to be thinking Can I afford this?’ we want them to be thinking ‘HOW can I afford this?’

You don’t want them to be thinking about the price until you have 

 

  1. Established one key need or singular issue that they are facing that your product/service can solve/assist with.
  2. Found out how much it is costing them not to act - how much money are they losing by not solving the issue?
  3. Or finding out how much they could gain by solving the issue - or acting on the potential opportunity.
  4. Created some urgency - why should they act now?
  5. Discovered the benefit to them of solving said issue

 

Only then once you have gone through the issue in depth, and allowed the prospect to discover for themselves why they should act …

Only then should you discuss the price.

This is what we call ‘earning the right to present your solution’.

Remember you don’t want to present too early, we aren’t pitching anymore we are solving problems, we are in the business of filling the gap, fulfilling a need.

But only if there is one.

So please, don’t bring up the price too early.

You know how Real Estate agents don’t tell you the price anymore? 

This is because they would rather you fall in love with a property before you even consider if you can afford it.

It should be the same in any industry, get the prospect to fall in love with the idea of solving their problem and the benefits that will come from this.

Then, tell them the price.

I hope you have a productive week, go out there and add some value!

 

Cheers

Hayden

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