DON'T ACCIDENTLY INTRODUCE COST AS A PROBLEM!
When presenting your pricing or your fees don't use the word cost. Especially in the current economic climate, if you talk cost the prospect thinks cost. Your prospect is "investing" in your services or products because they will get a return on the spend. Never have a section of a proposal titled costs, always call this section "Your investment in [product / service] and the return". Never put "costing details" as an email subject line. Sounds crass, silly, nitpicking? Try it you will be amazed at the difference and the positive tone of the interaction with prospects and clients. More info on handling pricing and proving ROI.
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7 comments:
Comes back to a point Ian often makes justification vs motivation. Talk investment and there's real motivation on the clients part to keep listening as the ROI will more than justify the spend.
Especialy in the current "relationship economy" where business development relies upon relationships and the abilty of the customer to find you and want to work with you motivation v justifcation plays a key part. Motivation = whats in it for the customer, justification = whats in for the sales person / supplier. Customers and prospects do not respond well to justification.
Good advice! Thinking of cost as an investment by your client also changes the way you both view a project. A cost seems to indicate a simple transaction, whereas as investment implies a longer relationship. I want my interactions with my clients to be the foundations of longer relationships; making sure they're getting a return on their investments, instead of simply covering costs, is one way to do that.
Nice to see your blog - will be using it here working with our sales teams, and hopefully to get enough interest to get you out here!
Don't forget to set a feed for my blog, there will be weekly sales tips. Forward the link, get your sales team on board. Also follow me http://twitter.com/ianfarmer Good luck, good selling.
This is a great time to pick off consultants that were an expensive luxury for companies pre-credit crunch for a fraction of their usual price tag who are fantastically well connected and can get you in front of the people who decide the big deals. Now more than ever it's the relationship economy!
Hi there Gemin-i.org
Dont forget in any market you get what you pay for.
Also beware of "trainers", "advisors", "consultants", "coaches" who in the current climate are really just people who are between jobs.
All credit to them for trying to earn a living but at the end of the day, if you need help you need a pro.
Ian
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