A prospect calls in and asks you for your best price or quote on your product/service and mentions they are shopping, what do you do?
- Give them the price.
- Don’t give them the price.
- Invite them to meet you face to face.
- Gather their contact information.
Let’s analyze the response. If you give them the price they have succeeded in making a commodity out of you and most likely will hang up – because you gave them what you thought they want, and they have no other need of you. You are not ready to give them a price, but if you don’t appropriately handle the next step, you have no chance to convert them. You do need to move them to a more formalized meeting but like B- will require preparation and skill to navigate them to the next steps.
The correct answer is D- gather their contact information. From that point, you have taken control and can guide your prospect to what they really want, which is the best overall value rather than price alone. Let me show you how easy it is to accomplish:
YOU: “Thank you for calling, my name is (Your name) who am I speaking with?” After they give you their name, you proceed by asking, “ (Their name) How may I best serve you today?” (You are on the right track and have taken control).
PROSPECT: “I’m calling about your (product/service), I’m shopping around looking for the best price. How much is your____?”
YOU: “I can tell price is important to you. Besides price, what is most important to you in the (product/service) you are selecting?”
Your prospect will give you a variety of responses which allows you to level shift the conversation from price to overall value which is really what the prospect wants. In other words if your prospect buys only based on price and later finds out the quality and results are not what he expected, he will not be satisfied. Value = Price + Quality + Service + Results. In the first ten seconds you must accomplish the following:
- Get their name and confirm their call back number from caller ID
- Take control of the conversation by asking them questions
- Replace “Price” with “Overall Best Value”
- Set an appointment to or begin prequalifying over the phone
This will put you in a position of strength and abundance instead of becoming just another commodity. The illustration below emphasizes this.
If you want help moving your prospects from Commodity Pricing to Value Based Selling, Contact Us Today and Schedule a Complimentary Session with one of Our Coaches. Print your Incoming Call Script and start today!