How to quote price
"A moment that makes some reps nervous"
It’s a moment in the sales cycle that makes some sales people nervous. You have given your presentation, expressed how great the product is and how the process will work. There is just one thing left, you have to tell the client how much it will cost. Quoting price should actually be one of the most enjoyable parts of the presentation, you just need to follow a few simple rules.
Do not hesitate: Don’t stop to make any last minute calculations or check for accuracy, don’t say “hang on….ok…it looks like the whole thing will be just $6,500.” If you hesitate at all when it’s time to quote price, even for a few seconds, the client thinks they’re getting worked and the once-hot buying cognitions go cold.
Preface it with the positives: Make it brief so it doesn’t appear you’re trying to mask the price, but remind the client of a few key benefits they will be receiving right before getting to the number.
Price should be an “all-in” number: Any fees, implementation costs, etc should be included. This is simpler, increases the chances of a finalized transaction and reduces buyer remorse.
Use it to close: Quoting price at the end of the presentation is a great time to gain the client’s commitment to the order.
Example: Let’s say you’re about to sell an annual SaaS subscription to a business owner. The price quote may sound like this:
“So the full platform, includes all core modules, you get unlimited seats, priority support, onboarding, and the integrations add-on: your grand total all in is $6,500, annually...and we can even break this into quarterly payments of $1,625 if you like.”
How you do the price quote should signify confidence in the product, which will transfer to the buyer. If it doesn’t, you probably need to go back and sell yourself on the offer first.