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09/09/2009

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Kelly ...
Very nice article. I'm glad you learned this lesson early.

Many times my prospects want me to change course also. I'll be 1/3 into my presentation and they say "So how much does it cost?". I've been thrown by this many times and I'll have to say I don't think I've learned a good way to handle it. If I jump to straight to the price, I've missed the opportunity to demonstrate how our service relates to their business, their bottom line, their pain. If I side-step or skip past the issue, I may have lost the decision-maker's attention altogether.

I know I've lost sales because I've changed my course, mentioned the price, and then was forced to back-pedal into a defensive posture on how our program was "Worth it!".

I'd love to hear advise/experience from you and your readers regarding this situation.

Thanks for your post!

Oh, Barry, I've been there, too. When the prospective customer wants to know the price, of course you have to tell them, but along with that comes the value statement. For example: "For a monthly subscription fee of XX, you gain access to critical information that can help you make future buying decisions, keep a pulse on selling trends...track the things that impact your bottom line. Wouldn't you say it's worth XX/month to have an impact on that bottom line a year from now?"

Another approach is straight on -- "Our services are XX per month. How do you feel about that? Do we seem low or high compared with the competition? Of course, you'll have to ask yourself, is the value of our product worth more to you than the cost? We think so, but I'd like to hear from you."

To improve, I kept notes on questions prospects asked and reviewed them before my demos. This helped me be better prepared. Of course, it's awful in an online demo when you mention the cost and then all you hear is silence. Humor is always helpful at a time like this. I sometimes asked "I can't see your faces, are you smiling or crying?"

I hope others will comment and share their stories too!

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