One of the main goals of sales professionals is to demonstrate how their products or services will best meet prospects’ needs relative to the competition’s offerings. Likewise, this will illustrate the value of the products and potentially reduce price objections.

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A majority (if not all) of prospects will want the highest quality products or services at the lowest possible price. As a result, during the initial selling process they may ask a similar version of this dreaded question: “How much does it cost?”

The dreaded question is feared by many sales professionals because they know in most cases, prospects will believe the product offering’s price is too high. Likewise, potential customers will either terminate the rest of the selling process or start to negotiate by asking for concessions.

Below are three common questions and answers of how to successfully overcome the dreaded question.

What should sales professionals do when they are asked the dreaded question early in the sales process? They should avoid answering the question!

A sales professional can avoid answering the dreaded question by stating something similar to this: “Well it depends. Until we discuss your needs and interests, I have no way of knowing what we may recommend or what it may cost.” Then the sales professional should ask to proceed in the sales process by asking for an appointment to conduct a presentation.

If the dreaded question is asked right before the presentation the sales professional should use the same statement above. Afterwards, the sales professional should start the presentation by asking “What features, benefits, and/or solutions do you typically look for when you purchase products like these?”

What if the product or service has a set price? A sales professional can confirm that the product has a set price. However, before sharing the exact price (if the prospect does not know), a sales professional can ask to proceed in the sales process by stating “Let’s first discuss your needs and interests to determine if this product or service is ideal for you.”

What if a prospect demands an answer to the dreaded question? A sales professional can give a ball park range and state “Once we discuss your interests and needs and determine which product offering is ideal for you, an exact price will be provided.” Then proceed either to conduct a presentation or to set up an appointment (to conduct a presentation).

In conclusion, the dreaded question can have negative implications on new business growth if a sales professional answers it before demonstrating the value of a suitable product offering. Likewise, a sales professional should avoid answering the question until after a presentation has been conducted and an ideal product or service has been identified.