The Alarming Question
One of the main goals of sales professionals is to demonstrate how their products or services will best meet prospects’ needs relative to the competitions’ offerings. Likewise, this will illustrate the value of the products and potentially reduce price objections.
Almost, if not, all potential customers will require the best products or services at the lowest possible rate. Thus, they may ask early in the selling process a similar version of the dreaded question: “How much will I have to pay?”
The alarming inquiry is feared by several sales representatives since they know most of the time, potential customers will conclude that the product’s price is too high. As a result, they will either start to negotiate by asking for a more competitive rate or terminate the sales process.
Below are three common questions and answers of how to successfully overcome the dreaded question.
What should sales professionals do when they are asked the dreaded question early in the sales process? They should avoid answering the question!
To initially avoid answering the alarming question, a sales professional can mention something similar to this: “Well it depends. Until we talk about your interests and needs, I will have no way of knowing what to recommend or what investment is required.” Then the sales professional should seek to proceed in the sales process by setting an appointment to administer a presentation.
If the alarming question is asked before the presentation a sales representative should mention the same statement above. Next the sales representative should ask “What solutions, features, and/or benefits do you typically look for when you acquire products like these?” to begin the presentation.
What if the service or product has a specified price? A sales representative can confirm that the service or product has a specified price. Before providing the exact price (if the potential customer does not know), the sales representative can proceed in the sales process by mentioning “Let’s first discuss your interests and needs to conclude if this service or product is ideal for you.”
What if a prospect persistently seeks an answer to the alarming question? A sales representative can supply a range and mention “After we discuss your needs and interests and find a suitable product offering, the required investment will be provided.” Then advance in the process by either conducting a presentation or scheduling an appointment to conduct one.
In conclusion, the dreaded question can have negative implications on new business growth if a sales professional answers it before demonstrating the value of a suitable product offering. Likewise, a sales professional should avoid answering the question until after a presentation has been conducted and an ideal product or service has been identified.
