Discovery Question: The ideal response to price questions

What is the price?

Never answer this question immediately.

Do this instead.

Ask yourself:

Has the potential customer understood the value of the solution?

• NO --> Do not discuss the price
• YES --> Acknowledge the problem, reiterate the value, and only then discuss the price

But why bring up the price only at the end of the sales call?

It’s quite simple:

You must first identify the problem and align your solution/value proposition with it.

Discussing the price too early can kill the deal.

The data shows a clear pattern.

Here is how to do it:

1. Set an agenda:
   
   
   By setting an agenda early on, you control when the price is discussed.
   
   
   You are setting the expectation that the price will be discussed. You can confidently say:
   
   
   "First, I’d like to learn more about your challenges, show you how we can help, and then we can discuss the price toward the end."
   
   
2. Sell the value:
   
   
   It may happen that the pricing question comes up earlier... never answer it immediately.
   
   
   In this case, you should verify whether the value has been understood.
   
   
   Otherwise, you should revisit the challenge and the solution...
   
   
   ...and only then discuss the price.

Benefits of discussing price later

1. Increased perception of value:
   When potential customers fully understand the benefits and value of your solution, they are more likely to consider the price justified, leading to a higher willingness to pay.
   
2. Higher close rates:
   Prospects who recognize the value before the cost are more likely to convert because they know what they are getting for their money.
   
3. Better negotiation position:
   If you present the value of your offer well, you have a stronger position in price negotiations. Prospects are less likely to haggle when they see the price justified by the benefits.
   
4. Reduced sticker shock:
   Early price discussions can lead to shock, where the prospect is put off by the cost without understanding the value. By discussing the price later, you minimize this risk.
   
5. Tailored solutions:
   By first understanding your customers' needs, you can adapt your offer and pricing to their specific situation, making it more attractive.

Sales conversation guide

1. Structure and building trust

“I’m looking forward to learning more about your company and how we can help you achieve your goals. To that end, I’d like to cover the following points with you today: ...”

2. Needs Assessment

“What are some of the biggest challenges you are currently facing with your existing solution?”

3. Solution Presentation

“Based on what you’ve shared with me, our solution can help you overcome these challenges by…”

4. Highlighting Benefits, ROI, and References

“By implementing our solution, you can expect improvements such as increased efficiency and lower costs, leading to a significant ROI. (incl. customer case study)”

5. Addressing Questions and Objections

“Do you have any questions or concerns about how our solution can help you?”

6. Pricing Discussion

“Given the value and benefits we’ve discussed, the investment for our solution is…”

With this approach, you ensure that the potential customer understands the full value of your solution before you discuss the price...

which in turn leads to more calculated purchasing decisions.

Always remember: Never let the potential customer take control of the conversation.

A clear structure helps you make the prospect feel like they are in good hands.

Here you will find more content to help you increase your closing rates.

• Discovery Call: Sample Questions (Scroll to the bottom of the page)
• What makes people say yes?
• Sales Call Guide: How to behave correctly
• Handling objections in B2B sales – Everything you need to know