What’s the Price? How to Pivot When Prospects Ask Too Soon

“What’s the price?”

Those three simple words — just three syllables! — can completely derail an otherwise great conversation with a prospect.

Your heart-rate spikes. You fidget in your chair. You scramble for an answer…

You know that sharing the price too early is like throwing a wet blanket on the deal. No matter what, until you build up the value, your price will seem too high for your prospect. 

But at the same time you can’t deny them an answer, right?

Well, you absolutely can. This is the thrilling field of sales, not for the faint-of-heart, and we make up the rules as we go. 

You can decline to answer “What’s the price,” but you have to do it tactfully and with some finesse. Don’t worry, I’m going to share exactly how to ethically navigate this tricky sales objection. So let’s jump in. 

Why Do Prospects Ask for the Price?

Prospects ask for the price because something in your tonality triggered them. Their cortisol level spiked, and the natural response often comes: “What’s the price?”

Were you talking too fast or too much like the typical salesperson? Were you not asking the right questions? Did you fail to build rapport and establish yourself as an expert advisor? 

Whatever it was, your prospect’s wall is now up, and it must be taken down before the sale can move along.

Prospects only ask for your price when they feel like they’re being sold to. So approach every sales conversation as a consultation rather than a sales pitch. 

Now, you won’t always be able to prevent the dreaded question. So here’s how to proceed — or how to not lose the deal — when someone inevitably asks for the price of your product or service.

Tip: Sales is similar to Judo. You can gracefully redirect your prospect’s weight, when they press in on something, and channel it into a positive for the sale. You can use their objections to your advantage. And all it takes is some foundational knowledge and a little training. 

What NOT to Do 

Don’t tell them the price — As mentioned, giving the price too soon will kill the deal. In the cost/benefit analysis in their mind, all the weight goes to the “cost” side. After all, you haven’t shared the benefits yet! Never share your price before you stack the value. 

Don’t ignore them — This is just downright rude. You can’t pretend they didn’t ask you for the price. They will tell you to get lost and hang up the phone.

Don’t say “we’ll get to that” — This is how many salespeople deal with the objection. They sweep it under the rug and promise to cover it later in the conversation. But this doesn’t do anything to build trust, and the bedrock of every deal is trust, trust, trust.

Don’t say “I’ll tell you the price, but I have a few more questions first” — This is similar to the “we’ll get to that” response above. But it’s worse, as now you’re giving the prospect hoops to jump through. 

FYI: Most so-called sales pros will advise you to respond with something like “It depends on x, y, and z. So let’s figure that out, and then I will share the price.” This isn’t a terrible approach, and it works in some situations, but it still passes the buck and can irritate the prospect. There’s a better way!

RELATED: Know THESE 4 Sales Objections and How to Overcome Them

What to Do Instead

Relax, don’t panic. Empathize with your prospect by saying “Good question…” And then just start asking more questions.

That’s it. It’s that easy.

Transition quickly with a thoughtful question about their current process or pain points. And don’t tell them you’re going to ask more questions — just do it! 

It will be evident that answers to these questions are required to get to the price. The answers are the key to unlock the proverbial price door. So it might look like this:

Prospect: “What’s the price?”

Sales rep: “Good question… well, to understand how much custom integration is needed, tell me…”

Or…

“Good question… what are you currently spending to solve this problem?” 

Or…

“Good question… how much is this problem currently costing you?”

Or…

“Good question… but tell me how you’re currently generating leads and qualifying them.”

Or…

You get the point. 

RELATED: 8 Sales Negotiation Techniques You Must Know

An Ounce of Prevention…

As they say, an ounce of prevention is worth a pound of cure. So in a perfect world, the prospect never asks you for the price. In a perfect world, you speak slowly and confidently, adding tons of value, tying your offer to their unique pain points. Do this and the price will remain an abstract and insignificant matter in their mind. 

Sales Tip: When you start the conversation, dig right into the prospect’s pain points. They’ll be caught up in their own story and won’t even think to ask for the price. They would pay anything to solve the problem and not to feel the pain. 

Is it ethical to hold out on giving the price? Yes, it’s 100% ethical. Remember, if you give the prospect the price too early, they don’t get the full context or scope of the problem and the urgency required to solve it. They will hang up the phone and continue to struggle in quiet desperation. And that’s unethical.

It would be like not knowing you have a heart defect, and the doctor’s first words are “It costs $10,000 to fix this.” You will decline the surgery because you aren’t even aware there’s something wrong with you! But, if you allow the doctor to explain the problem and the urgency, that $10,000 would seem so incredibly insignificant. You’d pay up without question. 

So it’s time to get out there and finesse your way deeper into the conversation. Never answer the question directly (until it’s time), but instead redirect the discussion to other more urgent matters, like pain points and solutions. You’ve got this. 

Until next time…

Johnny-Lee Reinoso