Value Based Selling: Pricing Communication Dos and Dont’s

Value Based Selling: Pricing Communication Dos and Dont’s

Communicating the price of your products and services to your customers may happen every day, depending on the type of business you manage. We often take for granted how we communicate prices. And, while it is most important to communicate the value of your offering well in advance of closing the sale, how the price is communicated to the buyer should be carefully handled.

Are you in business to business sales, or are you responsible for a B2B sales team?  If you answered “yes” to either, than you’re far too familiar with how the wrong approach to answering this price question can send the sales call in a negative direction.

Here are some dos and don’ts when it comes time to communicate your prices to the buyer:

Dos of Communicating Price

  • Do present your price succinctly and with conviction…The price is…Anything other than that creates doubt in the buyer’s mind.
  • Frame price within the context of what the buyer gets versus what they pay. Sell value, not price. See our post “Value Based Selling: Win Price Negotiations on Value” to learn more about value based selling.
  • Sandwich price between benefits. For example, say to the buyer “… For all the features we discussed, features A, B, and C the price is $X, and this includes all the value added features that we discussed.”

Dont’s of Communicating Price

  • Don’t apologize for your price.
  • Don’t ask for last look. The buyer will find other lower prices and expect that you will lower your price.
  • Don’t blame management or operations for prices.

Price Point Partners has been helping clients analyze current pricing data, stop price leaks to restore profit margins, establish value-based pricing strategies and deliver business to business sales training that empowers the salesforce with tools to enforce a value-based sales approach. Contact sales training speaker Ralph Zuponcic for more details about our Selling for Profit™ sales program, and explore how our B2B sales training can revitalize your sales efforts. Fill out our contact form for more information on our , or call 330-342-0923 to start improving your b2b  today!

About the Author
Ralph

Ralph Zuponcic

President, Price Point Partners

Ralph is a national authority on strategic pricing. He has been featured in publications including The Wall Street Journal, Fortune Small Business, CFO Magazine and Marketing News.

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