All is going well. You have set a rapport with your potential client, they seem to like you. You have also discussed a plan suited for them and figured out the details of the project with all the invested time. But what is the next dreadful step that will make or break your deal? Pricing.
How do you talk to a customer about the price without scaring them away? Quoting a price way beyond the budget in mind of the customer may completely negate all the goodwill you have built all the while talking to them. How do you quote the price that could take the discussion forward, and when should you quote it?
This blog is here to tell you when and how should you talk prices with a customer?
Avoid the question in the beginning
Customers might be in a hurry and impatient to know the cost of the service before anything else. It helps them eliminate vendors from the many that have been suggested to them by Omnibiz. Do not give the price of your service until its value has been established. Set up the question of price as a potential investment for the customer so that they know they are getting the value for their money.
Tackle it in a clever way
If the customer establishes a budget or during the course of the conversation a tentative cost comes up, tackle the question in a clever way. You can say something like, “Something can be worked out under that price” or “would you ask a doctor the price for the surgery without an initial exam? Give us some time to give you the best quote”.
Do not postpone the question for too long
You have established clever ways of postponing the question to establish the value of your service. Fair enough. But do not postpone it for too long as it will only make the customer suspicious and not trust you. A customer or a buyer are increasingly becoming impatient with price deflection because there is no dearth of vendors in the market. What is indeed a dearth of, is the lack of quality vendors. Once you have established that you are a quality vendor, there is no need to postpone the question.
Understand their budgets
During the course of the conversations and setting up a rapport with your customer, you get a sense of their lifestyle and budgets. Even if you do not have an exact figure that would please them, you still a price bracket you can work with. Begin getting to the exact price by sharing a price bracket and serve the information in the right manner. There are multiple ways of doing it as given below.
Talking about price in multiple ways
While building the value of your brand and yourself, you can establish a budget or a price bracket in one or more ways:
Price+Ask a question- Quote the price bracket or an upper limit plus a relevant question like “What else would you want apart from the perfect price to seal the deal?”
Price+Add on- The add-on can be a great after sales service or a complimentary service
Price+on time delivery- Guarantee an on-time delivery of the service to the client if that is what is most important.
Price+customize- Offer them something that will personalize the service for them in some way and make them feel exclusive
The best part about quoting the price that would make for a happy customer is also potentially making a customer for life. Do not be afraid to answer the question, but get to the question after the customer has given you a considerable ear. These tactics would surely help in making the most of the Omnibiz leads!