eHow many times have you received a phone call or an email from a prospect who says something like, “All I’m looking for is a price. How much?”
Admit it!
We’ve all had calls like this and wow are they tempting.
We think the quick quote will result in the quick sale. Quit kidding yourself!
Rarely is that the case. The person asking for the quick quote is the lion in sheep’s clothing. 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.”
Be honest with yourself.
What is your bottom-line going to look like if you have to discount severely to get a customer, and then you have to provide all kinds of additional support to keep them happy?
When asked for a quick quote, your response should be, “I would be happy to, but there are so many different options and the last thing I want to is provide you with is incorrect information. Can you tell me a little bit about why you need ______ (fill in the item they’re looking to buy.)”
Your objective is two-fold. First, get them feeling you’re doing them a favor by helping them, and second, uncover their real need.
Your policy must be to never give a price without first understanding the customer’s real needs and desired outcomes.
YOU MAY BE INTERESTED IN 5 Ways To Handle a Prospect Who Won’t Respond
Mark!
Excellent post!
Our response when someone calls and begins with a price request is to say, “Good bye!”
We know from experience that price shoppers do not become the kind of Customers we enjoy serving. They become the high maintenance Customer as you indicated in your post.
The lesson we have learned is that salespeople must know their target persona and they must only sell to that target persona. Violate this rule and valuable time will be wasted and it can and will hurt your brand.
When you pursue a prospect for price, it makes you and your brand look needy. It also dirties your brand when people outside your target persona own and use your products and services. Audi does not offer blue light specials. Not just anyone can own an Audi. Apple does not compete on price. They compete on usability and beautiful design.
Keep rockin’!
Chris Young
The Rainmaker Group