Have you been in this situation? You have scheduled a call with a prospect and right off the bat your prospect asks you how much you charge for your service. You tell your price and your prospect starts objecting and bargaining. You on the other hand start justifying your fees and your prospect does not end up buying. What did go wrong?
The prospects are always weighing two things against each other. The pain of their problem and the cost for solving that problem. If the problem is not big enough to justify your fees, they are not going to buy.
Generally, it is not a good practice to reveal your price immediately. That is because you have not been able to discover and amplify the needs and pains of your prospect. You also have not been able to build up the value and differentiating factors of your IP service. The scale of your prospect is not tipping to the correct side and they are not likely to buy.
You should be willing to reveal your price only when you feel that you have amplified the needs and build up enough value for your service.
So, what to do when your prospect is eager to discuss the price right in the beginning?
If your prospect starts with “Well, how much you charge?!”, you should respond something like this:
“Well, Mr./Mrs. Prospect, it depends. What exactly are you looking for in our IP service?”
By making a redirection with your question, you will gain valuable information which you can use in flipping the scale in your favor. After they have answered that question, then you will be able to dig deeper in their needs and pains and building up the value of your IP service as a solution to their problem.