Great advice for any, and every business owner, we are all trying to close more sales and grow our business. Once you know the answers you can recommend the best product for their needs and budget. Being able to recommend the best solution will maximize the benefit to them, and in the long run, maximize your relationship with that customer.
In fact, I urge you to look at these questions as your 6 steps toward maximum price!
1. Do you know 3 of the customer’s critical needs or desired benefits?
Having the customer share minimally 3 critical needs they have or benefits they desire is vital. Multiple needs allows flexibility to allow your value proposition to be as powerful as possible.
2. Do you know their timeline for making a decision?
Knowing when the customer is going to make a decision is absolutely essential. If there is no sense of a need in the mind of a customer to make a decision, there is little potential in being able to maximize price.
3. Do you understand their perception of money?
When we understand how the customer views money, it will provide us with key insights as to how to position our price.
4. Are you dealing with the decision maker?
There is nothing worse than negotiating an outcome only to then be told there is someone else who needs to be consulted before a decision can be made.
5. Do you have confidence in yourself and what you sell?
If you don’t believe in what you sell and the price you expect, there is little chance the customer is going to believe in your price.
6. Does the customer see outcomes they did not think were possible?
This is the bonus in allowing you to maximize price. When the customer sees an outcome they didn’t think was possible, their own drive and emotion will work to your advantage in accelerating a decision.
These six items are why it is critical to never offer a price to a customer who is reaching out to you asking for the “quick quote” or the “fast price.”
As tempting as it can be to give a customer a quick price, the damage can and will be significant.