8 Key Steps to Great Pricing Conversations

2nd September, 2020 | By Frances Pratt

8 Steps to Great Pricing Conversations

Talking about pricing is one of the most common questions that I get and often where people trip up in their sales conversations.  Follow these eight steps and I promise that both you and your client will feel better about pricing conversations – oh and you will probably make more sales too! 

Step One: Be okay with you

Your pricing and your business are all about you.  Before you read anything more, I want you to stop and close your eyes and take a deep breath and connect with you and your value.  What you do is amazing.  The service that you offer is amazing.  Clients buy from you for a reason.  Connect with that now.

Step Two: Signpost it

The biggest mistake that people make in pricing conversations is that they don't signpost it.  They leave this part to the end of the conversation so that it's almost an afterthought. 

You create awkwardness by leaving it and leaving it.  Then at the last minute, you blurt it out … the price and asking them to buy… it feels rushed and weird.

A simple way to get over this is to signpost it.  Start your client conversation with a simple roadmap.  Like this:

  • Thank you so much for meeting today.
  • I’m going to ask you lots of questions about you and your business
  • I will share about my business
  • Then I will talk to you about pricing and what’s next

Laying down the agenda like this makes both you and the client feel better.

Step Three:  Keep it Simple

Pricing doesn't have to be tricky.  One great way to focus on simplicity is to review it from your clients’ perspective.  Think about the simplest way that you can help people buy from you.  What does that pricing look like?

Once you have done this, I recommend to take it out to some people that you've worked with and get their feedback. 

That conversation sounds like this:

  • This is the pricing that I'm thinking about using.
  • I'd love to know what you think about it.
  • I want to make it really simple. Is this simple to you?
  • What could I change?

 

Step Four: Listen first

People often think that selling is about telling.  It's not!  Great selling always starts with listening.

Here is what you listen for:

  • Your clients’ pains and aspirations
  • What might be stopping them right now?
  • What does this mean for them?

If you can get into the mind and heart of your client, then when you talk about your offer and price it makes more sense, it gives it context around them and their business. 

Step Five: Value beats price

Listening well allows you to focus on the value that your client is going to get from working with you.  Placing value first makes pricing an easier equation and a better conversation.  You know that your client is better off because they've bought from you.

Step six: It's about fit

Fit means what and how you are offering it, and the pricing fits with your client.  It won't fit with everybody and that's okay because not everybody is your client.   Keeping this fit in mind is a powerful way to be open, to listen and to remind yourself to focus on the value that you provide.

Step Seven: Encourage questions

One of the biggest mistakes that I see people make when they approach selling, is they make it way too much about them and what they offer. Instead, what I want you to do is to focus in on your client and the best way to do that is to encourage questions.

The more you ask questions about your client, the more you understand.  This enables you to see and talk to the value that is relevant to your client and how you fit with them (or not).  

When a client asks a question, encourage them.  Encourage them by answering it, by asking if there's anything else; by asking if you have answered sufficiently.

Step Eight: Make it easy for them to say yes

You are going so well in your conversation!  You have signposted it, made it simple, focused on value, made it clear about how we fit.  Congratulations. 

Now you need to make it easy for them to buy from you.  The best way you can make it easy for them is to clearly talk about your pricing and then ask them to buy from you.

It is your job in selling to ask and it is the client's job to say yes or no.  You've done all this work to get to this point, the last piece is simple.  Explain your offer, your price and ask them to buy from you.

Things to read now:

 

For the love of selling,

Fran.

Like what you've read, and want to know more

Why not have a look at my FREE ebook on the 11 Secrets of Sales Champions ... specifically for people who honestly hate sales! 


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