Money is a loaded subject for many people. And one of the most difficult things many salespeople stumble 
over is talking about price. However, unless you get over this, closing business and getting the order will always be a challenge.
Before we talk about the close itself, let’s recap on how a typical sales process should go.
You control the structure of the conversation by asking questions. Your prospect provides the context and content.
A structure we’ve proven to work is based on how people process information and covers four areas:
- Why?
- What?
- How?
- What if?
Start with the “WHY?”
People buy because they have a problem they don’t want or a result they want and don’t have. Pain or gain.
Ask why they’re there and what issue they’re facing and trying to solve.
Why it’s important to solve it. What’s their ultimate outcome?
Why can’t they fix this themselves? You’re looking for challenges that you can solve for them. And what might be getting in the way of them doing so.
Once you know the outcome they’re looking, for move into the “What”.
This is what you will do to solve their issues. This is a high level description of your program and overall methodology.
The “How” is the process you’ll take – how you’ll deliver.
The key is to get agreement along the way that what you’ll be delivering is of value to them.
The “What if” is one of the most overlooked parts of the process.
Ask them…
What would happen if they got what they wanted. What would happen if they didn’t?
If they could see themselves working with you and succeeding?
If “no”, ask why not and what needs clarification.
If “yes” but it depends on the cost, say, “We’ll talk about the investment in a minute. Other than cost do you feel the solution meets your needs?”
You want them to “buy into” and emotionally commit to the solution for themselves using their own words. So ask them why they think your solution would work for them.
Only now talk about price.
Now you can talk about the fee.
“Your investment is $X. Will that work for your budget right now?”
I see a lot of salespeople stuff it up here.
Keep quiet. As a mentor of mine was fond of saying, “Bite your tongue until it bleeds!” Don’t interrupt. Learn to be comfortable with silence. You’ve asked a question, so allow them the time to think and provide an answer.
If no, talk about what would work for them. Could you stretch out payment?
If they want to bargain, ask what they’d like to leave out. Then decide if your solution would still give them the result they want.
And if they simply can’t afford it, they can’t.
If they say yes, move ahead.
Once you have agreement to move ahead ask if they are ready now or need to speak to someone else (spouse/partner) before signing up.
If the latter, get a commitment by when they’ll let you know and agree that you’ll follow them up if you haven’t heard by then. Try and keep the timeframe short. The longer you leave it, the more chance other priorities could come in the way.
If they’re ready to get started, get payment information, charge them and set the date for your first appointment.
Closing sales is not rocket science. Having a process to follow goes a long way to overcoming reluctance about talking about money. Now go out, practice and close more business.
One last thing.
If you still find yourself resisting discussing money and how much your services are worth, you could be having issues with your “money thermostat”.
You may have seen this video I’d created on the topic and how to get over your own fears. If not, click http://youtu.be/huJNQ5xx6pI to watch it.
Rashid & Barbara.
