When Do I Tell Prospects the Price?

This week's question from my portal “The Neagle Code: Directions for Life” comes from someone who wishes to remain anonymous.

Neagle Code Question

Hi David,

Can you help me understand where in the sales conversation I should be addressing pricing? Should I interject it right at the beginning of the call, or wait until they say yes to my service?

Neagle Code Answer

When they say yes to your service.

Think about this: What’s the purpose of the price?

You have to be very careful when it comes to price in the mind of the client. You don’t want the sale to be based on price. You want it to be based on the client’s need, desire, and urgency. That’s where you want the person to make the decision from.

You should know who your ideal client is so well, that you’re targeting people where price won’t be a psychological issue for them.

There are basically two kinds of people in the world:

  1. People trained from a young age to buy within certain price ranges
  2. People who aren’t

Now, I sell things that cost a lot of money, so I’m looking for people who feel that it’s normal to pay a certain amount of money for a service. If I go after people where their idea of “personal help” is to pay about $148, there’d be no way that I could charge for what I do.

So I take that into consideration.

Are these people trained to buy at certain price levels? Is it normal for them to buy at the price range I suggest?

If so, then it’s not an issue of whether or not they think the cost is too much.

The issue is, where can they come up with the money? That’s a natural progression into them paying.

If somebody comes right out and says, “Hey, how much does this cost?” I’ll tell them.

I won’t avoid the question.

But then I’ll talk about what’s important for them, because they’re not buying based on price. They should be buying based on necessity, urgency, and desire of what you have that they want.

I would totally have an open conversation around price with someone. If they say, “Okay listen, I just want to know the price,” I’d say, “Why do you want to know the price? Does it matter what the price is if you have this issue and it needs to be fixed?”

If it does matter, then the issue isn’t the most important thing in their life. How much money they have or don’t have is the most important thing in their life, and they’ll always be limited by that evaluation in their mind.

The sales conversation needs to be about their problem and their desire to change it.

P.S. Whenever you're ready… here are 3 ways I can help you grow YOUR business:

  • Listen to The Successful Mind Podcast. Three times per week I drop cutting edge information and strategies relating to success mindset, leadership, wealth creation, and relationships.
  • Join other like-minded small business owners in my Transformation Facebook Group! Allow us to be a place to share ideas, get advice, and meet others who value truth and growth!
  • Join me at The Art of Success Summit! This October, I'm getting a group of amazing business owners together for 3 days to work on exponentially growing their business.