“How much does it cost?” This questions trips up lots of folks. Here’s a framework I adapted from pirates. It’s called, ARRRR (get it?)
To be clear, all pricing conversations have context – so adapt all of this to your unique situation.
ARRRR:
A: Anchor. Anchoring is a strategy to help your buyer put price in perspective. You can say something like, “Good news, it’s not $80,000. It’s only $50,000.”
R: Redirect. Price can be hard to determine without discovery. A redirect might be, “I appreciate you asking – and we’ll definitely get to that – could I ask you some questions to ensure I understand what’s most important to you?”
R: Reframe. Prospects can often get fixated on price and ignore the benefits (or the problem that’s driving them nuts). A well-placed reframe can help folks get unstuck, e.g., “I can appreciate the price concerns, but it looks like this won’t cost you anything if we solve for x.”
R: Range. Some folks need an idea of the price before they can even have a conversation. It’s a legit need. So give them a range. “I’d want to learn more first of course, but typically you can expect an investment between $XX,XXX and $XX,XXX – is that in range, or should we end the conversation here?”
R: Reality. This last one leads back to the first principle – context. That is, the reality might be that price is a must know in advance, or it may not be an issue at all. You might be getting priced-shopped, or they might just be curious. Regardless, this framework can provide some guidance.
I hope this helps!
PS: What’s a pirate’s favorite letter?
“R”?
or, the
“C”?
🙂