Did you know that saying the price too early can kill your sales?
Saying the price either too early or unprompted can really just destroy your sales momentum. You may be talking to a great potential customer, but if you say the price too early without creating any product value, you’ll lose customers every single time.
Don’t fall into the trap of saying the price too early!
Imagine going into a nice store to buy a watch. You want a watch, so you’re happy to look around for the perfect one. You don’t really have a budget in mind, you’ll figure that out later. You spend ten minutes looking when you spot one that’s beautiful. It’s sleek and modern. A sales consultant comes over to talk to you about it. You ask to see it. The sales consultant takes it out of the glass cabinet and places it on the counter and begins describing it. She says who made it, what materials it’s made of, and what the price is. You nod along until she gets to the price. Suddenly, you cringe. $2,800. She’s still talking, but you’re not listening anymore. You’ve only had maybe 30 seconds in this watches’ presence, but you’ve already made up your mind, it’s not worth it.
You didn’t have a budget in mind. You thought the watch was beautiful. Maybe it was diamond encrusted and made by the highest-end manufacturers. You’ll never know because you already made up your mind about it when you heard the price. This sales consultant lost her sale because she gave you the price up front before she could explain why it was worth it.
Had that sales consultant held the price back until the very end, after she had made her 10 minute sales speech, she could have made that watch sound like the deal of the century. Like it was ONLY $2,800.
This is crucial in the art world. Your fine art gallery is selling high-end, expensive artwork. If you give away the price too early, you’ll lose your sales before they ever started. One tip would be to keep the prices semi-hidden. Covered up so only really interested parties would look. Or, just to avoid speaking of it until the very end.
Some potential art collectors will ask you up front what the price is. You can give it to them or you could explain to them that before you get to that, you’d like to explain to them what that piece of artwork is all about. This is tricky, though, and takes practice. It’s also extremely important to be able to gage the potential collector. Some collectors just want to know the price so they can buy it right away! They don’t need a sales pitch. Learn how to pick those customers out.
Price should be the last thing you talk about to close a sale. If the emotional connection is not there, closing the sale will be extremely difficult.