In 1967 when I was a very inexperienced 27-year old, I opened a retail furniture store. Perhaps it was fortunate that I was so ignorant that what I didn’t know didn’t even worry me. A man in town who had knocked around in the furniture business for a long while seemed like the perfect salesman for my new enterprise.
I went by his home one evening to lay this big opportunity on him but this once-in-a-lifetime chance to achieve fame and fortune in my burgeoning business left him less than impressed; however for me, it was still one very profitable evening and I’ll never forget it.
Aside from declining my job offer, this old pro gave me some very good advice. Even though most of what he said has faded into the years, I still remember vividly one selling tip he mentioned. It has helped me many times since.
As we were talking he said, “People are always coming in to ask the price of things…but it doesn’t really make any difference how much something is… unless it’s what they want.”
That’s a pretty good thought, isn’t it? It’s also helpful advice because most of us who sell get premature price questions and some salespeople don’t know how to handle them. Here are a couple of ways I’ve learned to handle premature price questions – like when someone ask “How much it is?” before it’s appropriate to even talk about the price. Usually there are two main situations when the questions appear:
1. Before you have enough information to recommend the best product or service.
2. Before the buyer identifies the product or service he or she wants.
To answer the question, “How much is it?” in situation number one, you might memorize this response: I appreciate your concern for the price. I know it’s very important and you want to get the best price possible. But, before I can give you an exact amount, there’s some more information I need. (Immediately ask for the information you need.)
For situation number two, I suggest this answer: I appreciate your concern for the price. I know it’s very important and you want the best price possible (so far we’re just repeating the same reassuring statement). But before we even think about the price, let’s first make sure we’ve selected the best product or service to fill your needs. (You can change the wording to suit whatever you are selling.)
You’ll find these honest, logical responses will fit 80 percent of the premature price questions that you get. You’ll also notice that each one begins by giving a value-giving response “I appreciate your concern for the price. I know it’s very important and you want the best price possible.” Then you state the logical situation of not having enough information. Or not having selected the desired product or service. When you use these suggestions with integrity, and not to manipulate, they’ll usually work for you.
They’ll help buyers realize that the price isn’t important until they find exactly what they want. They’ll help buyers realize that as you’re attempting to sell them what best fills their needs.
These responses will help you smooth out some sticky points of selling. By remembering what the old pro furniture salesman told me: “It really doesn’t matter how much something is…unless it’s what they want!” Or…as I teach sales people now…”Never quote a price to an unsold buyer!”
Get the latest sales leadership insight, strategies, and best practices delivered weekly to your inbox.
Sign up NOW →