Before You Discount Your Price
By Brooke Green
So close…How many times have you been in this situation:
*You meet a prospect
*You take them through your process
*You ask them the right questions, tough questions
*They reveal that they have a problem
*They know it is costing them money
*They think you can help them fix it
*They say “NO” because they can’t afford your solution
WHAT? WAIT A MINUTE! EVERYTHING WAS GOING SO WELL.
What’s really happening…
I think our first instinct is to believe what they’ve told us – our price is too high. We obviously didn’t hear something right, or our pricing process is flawed. So, maybe I should discount. STOP! If your arm is falling off and you’re bleeding to death, do you negotiate with your doctor for a lower price?? Do you decide to let it bleed a little bit longer before you do something about it?
No, you realize you have a problem, you know you have to invest something to fix it, and you believe the doctor can fix it for you. If you have a prospect with a problem as big as a “dangling arm” should they behave differently? My experience is that it’s not about price at all. It’s a belief issue.
What to do about it……..
If you have helped a prospect identify a problem, denominate the cost of the problem, and you and the prospect have decided together that you can fix it, what does price have to do with it? NOTHING! It’s about belief; belief that the problem they have exists, belief that it’s worth investing time and money in to fix, and the belief that you are the person to fix it. So, if the prospect wants to keep making it about price, what can you do? Go back to your process……….
- Historical Review – How did you get to this point?
- Up–Front agreement – “I want to find out what is really holding you back”
- Compelling Reason – What was the pain that was revealed to you? Remind them of it – over and over and over.
- Economics – What is the cost of not fixing the problem? How much is the problem costing them currently? Is the value your solution higher than the dollars they will invest to fix it? If yes, than logically, they should move forward with the solution.
If you take them back through your process and they are still hung up on price, you have to lay it out for them:
“My experience is that the problem here is really not the price. Maybe your gut tells you that the problem is not worth fixing, or that I really can’t help you. That’s okay, but if that is the case, I will have to walk away.”
If they allow you to walk away, they weren’t serious about fixing the problem. The thought of you leaving them with their problem will force them to “get real” and get you back on track for the real, true conversation.
