As a sales trainer for decades I've learned that transparency is key in fostering trust and building lasting relationships with clients. However, one aspect of my approach might seem counterintuitive to some: I don't display prices upfront in any document or proposal before I've had a chance to speak with the prospect.
Why?
Let me walk you through my reasoning.
First and foremost, I believe in the importance of communication. By withholding prices until we engage in a conversation, I ensure that I have the opportunity to fully explain what goes into our pricing structure. It's not just about throwing numbers on a page; it's about painting a comprehensive picture of the value we provide. This allows me to address any questions or concerns the prospect may have upfront, establishing a solid foundation for our discussion.
By engaging in a dialogue before presenting the numbers, I can better understand the client's needs and tailor our offerings accordingly. Every client is unique, with specific requirements and budget constraints. By taking the time to listen and learn about their goals, I can craft a personalized solution that aligns with their expectations. This personalized approach sets the stage for a more fruitful negotiation process down the line.
I don’t do “one size fits all” because it never does.
Speaking of negotiation, that brings me to my next point. Holding off on revealing prices until we've had a chance to discuss allows for flexibility in the negotiation process. If the initial price is higher than what the client had in mind, I have the opportunity to delve deeper into their concerns and explore alternative options. Perhaps there are certain features or services they prioritize more than others, allowing us to adjust the scope of the proposal to better fit their budget.
It's important to note that flexibility doesn't mean compromising on quality. While I'm open to adjusting the scope of the deliverables to meet the client's budget, I firmly believe in delivering value that aligns with our standards of excellence.
After all, why would we charge less for the same level of quality? By maintaining the integrity of our offerings, we demonstrate that our prices are not arbitrary but reflective of the value we bring to the table.
Withholding prices until we've had a chance to discuss them helps mitigate the risk of being ghosted by prospects. In today's digital age, it's all too easy for potential clients to scroll past the budget or pricing sections and then hit delete.
In the world of sales, it's not just about closing the deal—it's about building relationships that endure and hitting someone with an unexpected price isn’t a good way to get started.