What Does Your Buyer Want From Your Price?

This is the want where many salespeople have the greatest angst...the price want. For too many salespeople, having to present price or even anticipating having to present price is the most daunting of all the salespersons' activities. It doesn't have to be this way.

All buyers have a price want and that does not necessarily mean lowest price. To the franchisee, for example, it means a sensible price. A prudent price is "proof" that the franchisee's need for respectability is satisfied. Like most buyers, the price want to the franchisee is a function of value in terms of the four wants discussed previously. Prices are just numbers that can only be meaningful when considered in terms of the value to the buyer...price is actually a component of the value equation.

The price want is one that's sensible to the buyer (franchisee in this case) that makes sense for what it includes. It's neither high nor low, but simply prudent. So, focus on building value rather than simply quoting a price, and fearing rejection of it.

Without corresponding value to your prospect, any price by itself invites rejection. And well it should - the primary reason we salespeople exist is to build value - not to hide behind a price.