Should you tell your pricing upfront?

Lesson Details:

Video Transcription: In this video we're gonna cover a common question people ask is whether you should tell your prices upfront when to do that and when not to do that this video is brought to you by Appy Pie’s Academy the biggest thing you should consider is telling your price immediately loses flexibility for you so if you have common products that are under $100 maybe 100 $200 you want to tell prices upfront because you don't want to create a negotiation situation because the negotiation is going to waste your time this means in some cases so much time that it becomes unprofitable to sell that product so you just want to make it as simple for people as it can be for them to buy now if you're selling higher higher priced items as often happens in business-to-business environments you want to tell the price as much later in the process as possible because you want to know as much as possible about the buyer there are some for some products they're very broke buyers and there are very affluent buyers and they can use the same services the same things that you offer so you don't want to give a very affluent person the same price as a very price-sensitive person so you want to ask as many qualifying questions as possible what are you gonna use this for how long have you been in business where are you based one of the questions you can ask is for example well since high percents the cost is sometimes per seat how many people are in your company and then that's a sneaky way to get an answer of how many people are in the company so if there's a hundred people in the company you know they can afford stuff if there's one person in the company you know they can afford a lot less and so you kind of ask these questions and you base your there and you kind of narrow your range of what eventual price you'll tell them sometimes you don't have to tell them the price sometimes you can let them make an offer and hey if it's to low you can just let them know hey that's a little bit too low but if it's higher than what you would have said then you just you know make a face like you still make a face like oh my god that's a little bit low but internally you'll be happy and you just don't deter them from offering a higher price so that's essentially the strategy there most people don't want to make the first price suggestion but in about 10 to 15 of percent of the cases people will name their budget in their range it actually makes it way easier for you to sell because you can know what to offer them for their price and for their budget so using this strategy this kind of process you do you have a couple of Vantage's you don't shock people with too high prices if if if their budget conscious and if you have very affluent buyers then you don't under it yourself you can get the most out of those buyers by telling them a higher price and also this helps you understand the qualifications the qualifying questions help you understand what kind of leads you get and helps you understand the quality of your lead sources and helps you understand more about your clients so that as you keep having these conversations you get better and better at homing in on exactly the right price to tell them and having exactly the right conversation with people to lead them to the right price the optimal price for you.