Lately I believe that in class we have had quite the emphasis on how to ask the right questions, how to phrase them to get what you want, and when to just stop talking all together. As sales people, we need to be very good at asking questions that do not irritate our customer, confuse our customer, or lead our customer to give us answers we are not looking for.
What I learned recently is how to talk about price in a selling situation. It is often a touchy topic that the client (or even the salesman) does not want to talk about for one reason or another. The trouble with the method of leaving price talk to the end is that you may have spend and hour or so trying to get the customer to buy your product when there was no way they would buy it in the first place because it is way out of their price range.
Now, if you had been a smart salesman in this situation, you would have at least put out a few feelers to know and understand the customer’s budget. Asking what range they are in is a good start. One thing you have to be aware of however is that most customers lie. For one reason or another they either overshoot, or undercut their own budget. This is why it is really best to just outright ask if the price you are asking for is acceptable or near acceptable.
I honestly never thought about or realized the amount of finesse required to talk about price in a sales conversation.
BoweryJE22
I like how you mention the importance of price as an early concern of the sales conversation. Price is the factor that can prohibit a sale even if the buyer is completely in love with the product or service you offer. Essentially they may love what you can offer but can waste both your time and their own if price is not discussed until the end. It is, therefore, courteous to discuss price relatively early in the sales process.
Hey there nice post. I think this a topic that we definitely need to discuss more in class. It can be such a touchy subject for people to go over and we need to learn how to talk about it more comfortably so we can do better at closing a sale.
Price is definitely a sensitive topic in sales. I think you are correct in that it is better to address price earlier rather than later. However, asking blunt questions like, would you pay X amount, is not the best solution either. Sellers, therefore, should try to ask for a range and make observations as the customer journey progresses.
I think that money in general is an extremely touchy subject – how many people on the street are willing to share their salary?? I think that you are completely right that selling and revealing or negotiation for price is extremely delicate and should be handled with care. Understanding a customer’s budget at the start is a great way to direct the sales negotiation and gain a better understanding of the client at the start of the conversation. Great article!
-Asher
Price can definitely be a touchy subject especially if the buyer is more frugal with their resources. Bringing it up sooner rather than waiting or not mentioning it is definitely a good tip and saves you time and money if the sale does not work out.
Price is definitely a touchy subject in sales. I am personally very price sensitive. As such, I have to be careful not to project this onto whomever I am selling to. I have to be open to their perspective on budget, and ask key questions that will help me to understand how they view price.