The Price Question

And Expert Advice on How to Respond

"Just tell me the price."

"How much does it cost?"

"All I want is your best price."

"Can you just give me the price?"

"How much is it?"

"All I am looking for is a price."

"What is your best price?"

"How much?"

from a recent client conversation near you

When was the last time you were asked one of those questions? And what did you respond?

The last thing you want in sales is to have the conversation focused on price (unless, of course, you intend to sell based on pricing only.) When the conversation is focused on price, it doesn't give you room to talk about the other important things, like your prospects' needs, business challenges, and how your company is offering the ideal solution that will make their lives more painless.

"We think the quick quote will result in the quick sale. Quit kidding yourself," writes Mark Hunter. "Rarely is that the case. The person asking for the quick quote is the lion in sheep's clothing. The potential for a quick sale is very low! Why? Your price, unless you are truly selling on price alone, is simply not going to be low enough for them.

Even if you were to make the sale based on having the best price, do you think for a moment you'll be able to keep them? Chances are you won't. The customer you get on price will leave you on price, and all along the way, they will hassle you about everything. A line I like to use is, "The low-price customer is the high-maintenance customer."

Deb Calvert looks at it differently: "No one asks about price unless they are interested in purchasing. Consider price questions to be buying signals rather than potential objections. Your prospect is interested and has gotten to the stage in their own buying process where they need pricing information. Let that knowledge guide your responses and accelerate the close."

Whether the customer sends buying signals or not, how do you respond to the price question?

Many sales training programs advise sellers to never, ever give a price until the value has been established. This school of thought says to ignore price questions entirely until you are ready to talk about the investment required. And, in most sales processes, price and negotiation come at the end. But according to HubSpot research, that's not when buyers want to talk about price.

So here is some expert advice on what to do when they ask:

Tell them the price.

According to HubSpot Senior Account Executive Nicole Bhatia, honesty is the best policy when confronted with this question. She says, "It's simple — when someone says, 'Just tell me the price,' I just tell them the price. Someone who says that clearly has their guard up. This person likely doesn't want to be sold. You won't get anywhere trying to dissuade them from jumping right into pricing. They'll likely dig their heels in even further and feel like you're hiding something."

"I would be happy to, but there are so many different options, and the last thing I want to is to provide you with is incorrect information. Can you tell me a little bit about why you need the product/service?"

Mark Hunter describes the objective of this response as two-fold. First, get them feeling you're doing them a favor by helping them, and second, uncover their real need.

"As a fellow consumer, I understand that you need to know the price to understand if our product is even viable for your company. We offer ways to get started with our products for free, and some of our customers are paying us as much as $x/monthly. The last thing either of us wants is for you to get an inaccurate quote, so would you be open to scheduling another call where we nail down the use case, and then I can give you an accurate price that most closely resembles your current needs?'"

Digital Marketing Expert Michael Grinberg says that when a prospect asks you just to tell them the price, they are asking this question to simply gauge if they should even take another call. With a freemium or a free trial model, it is easy to share how it serves both parties to further understand the nature of their needs and how you can best accommodate them. Both sides of that conversation will be helpful and telling in terms of the kind of pricing structure you can present to them.

Tell them three prices, low, medium, and high.

You are painting a range without actually quoting. If you get an objection to the low price, walk. Otherwise, move on and focus on addressing the client's needs.

"I hope that you've had a good experience here today (pause for agreement). I want to convey that I am wholeheartedly dedicated to selling you a car, and I want you to know that I will do whatever I can to earn your business. While I'm confident that the quote I've provided you is both fair and competitive, I understand the realities of buying a car in the 21st century. If you do receive a lower quote from another dealer, please reach out to me before making a decision. Again- I don't think that another dealer will quote you less. But if for some reason it is, please think of contacting me before making the purchase. Would that work for you?"

Andrei Smith from Car Sales Story calls this "to be a human." When in doubt, honesty is the best policy. People buy from people they like, being upfront, honest, and genuine works.

"At this point, we should be able to work something out for under one million dollars."

"Would you ask your new doctor to give you a price quote on surgery before the initial exam begins?"

Clever responses? A deflection? High risk and annoying the client? Probably all of it, and how well this is received depends entirely on the client, and only a little bit on your delivery. When price questions are not immediately answered, buyers get suspicious. They assume they will eventually be quoted an inflated price. This suspicion makes them guarded. The more you withhold, the more they withhold. As you proceed with your needs analysis, you won't get all the information you need to accurately quote a price. They don't want to equip you with information you can use to inflate the price. In addition to being counterproductive, causing mistrust, and erecting a barrier between the buyer and seller, evading the price question is inefficient.

"The preliminary price is $x, and that includes x. What criteria, other than price, will you be using to make your final decision?"

Deb Calvert responds with a preliminary price and with a question. Unless your prices are fixed, use the phrase 'preliminary' to signal that there may be some movement in price. Don't make up a number, lowball, or play fast and loose with the true pricing.

"The preliminary price for this option is $x. What this means to you is that you'll have this benefit. How important is this to you?"

Respond with a price for one option tying it to a benefit. Deb Calvert: "Notice the lack of hesitation, deflection, or apologetic language. Your confidence in the way you state your prices is every bit as important as the price itself."

"The preliminary price for this package is $x. I think this is the right package for you because of what I know so far. Let me ask you some additional questions to confirm that I'm on the right track."

Respond with a price for one option that is personalized based on what you know about the client already. It still leaves the door wide open.

"The preliminary price is $x, and we can honor this special offer for 48 hours. I'm mentioning this because it sounds like the price is important to you. What will the impact of this cost-saving opportunity be on your decision-making process?"

Respond with a price and a timeline and create a sense of urgency. If you are selling on price, not exclusively, yet with the price being important, the sense of urgency by way of a deadline is invaluable.

A prospect being blunt and hitting you with, "Just tell me the price," can be imposing, but it doesn't have to throw you off your game. If there's anything to take away from the experts, it's that honesty and pushing for more context are the best policies.

Be upfront with them immediately if you can, but if you need more information to present a fair, accurate estimate, ask for it. Try to have a more thorough conversation to understand your prospect's business operations and the needs that come with them.

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Mark Birch – How to Respond to "Just Tell Me the Price"

Andrei Smith – How to Overcome What's Your Best Price

Mark Hunter – How to Respond to "Can You Just Give Me a Price?"

Chris Lema – Answering The Question, "Is That Your Best Price?"

Deb Calvert – 5 Highly Effective Ways to Respond to Pricing Questions

Photo by Anne Gosewehr