Ever work with a sales prospect that asks you how much your product costs seconds after you shake their hand or say “Hello?"
“If you have to ask how much, you can’t afford it” - J.P. Morgan
Prospects that ask, “How much”? are asking you for good reason - either they have no money, they don’t want to spend any money, or the company they work for doesn’t allow them to spend money. And prospects don’t want you to know the reason - so you have to uncover it.
Think about it…
You walk into a clothing store, find a clerk and ask, “How much are your suits or gowns?" - and you ask this question before even bothering to look around and find something you like and try it on. The clerk at first is at a loss for an answer, then proceeds to ask, what size? what style? what color? Why aren't you responding in a similar way on your sales calls?
Prospects like to ask, "How much" because they like to see you squirm, or hear you stammer on the phone while you clamor for an answer. Prospects also like the feeling of empowerment when they ask you, “How much?"
The “How much” question puts you on the defensive to come up with an answer that you think your prospect will like. You'll come up with answers like: “We’re 25% cheaper” or “Less than you might think” or “We’re a bit more expensive, but higher quality and let me tell you why”. Once you fall into this ’trap’ that prospects have set for you (asking what it costs), and start defending the cost and explaining features & benefits - it's unlikely you'll ever close the sale. Why? Because the problem you solve and the importance of solving the problem was never discussed. You didn't ask what size, what style, what color and most importantly, why now?
Time To Call The 'Game'
Your best move whenever you’re asked “How much”? is to answer the question with a question and ask your prospect why knowing the cost right away is important to them.
Example:
Prospect: “How much is it?"
Salesperson: “Interesting question… You must have a good reason for asking me “how much” right away - May I ask why?”
This dialogue exchange opens the door to a more productive sales call because you’re asking for information - the real reason behind why your prospect asked you “How much” in the first place. If getting the truth from your prospects doesn’t hurt you, you’ll find that answering your prospects question with a question about the reasons why will serve you well. Asking why will turn the tables in your favor by getting you the valuable information you need to move your sales call in the right direction, and do so without squirming.