Software Sales Tips by Matt Wolach

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Sales Tips

How to Win More Deals by Changing Your Pricing Presentation Strategy

 

 

I want to share a game-changing tip to prevent prospects from running away from you. It’s something I’ve been teaching my clients in software sales, and it can prevent those frustrating scenarios where potential clients suddenly go dark on you. Let’s dive right into it.

One of my clients, Mihai, based in Romania, was my first client in that country, and his journey exemplifies the remarkable impact of this particular tip. Before we get into the tip, let me set the stage for what Mihai and his team were experiencing.

They would have promising conversations with prospects, and then the dreaded silence would follow. The prospects would request a proposal and pricing information, which Mihai and his team would promptly email. However, that’s where things often went wrong.

Sending a proposal and pricing information via email can be a deal-breaker, but only if it’s the prospect’s first exposure to your pricing. Imagine your prospect opens that email, and the first thing they see is a big number that shocks them. They have yet to have the chance to discuss or understand the pricing, so they might decide you’re not the right fit and vanish.

So, here’s the golden rule: Never send the pricing by email as the first time your prospect sees your pricing.

If you do, then the prospect will have sticker shock, seeing the price without understanding the value they’re getting will make them turn away.

Instead, engage in a conversation about pricing during your initial call. If time runs short, schedule a follow-up call for a “Cost Review.” During this call, go over the pricing details thoroughly and explain what they’re getting for the cost. Only after you’ve discussed pricing should you send the proposal.

Now, let’s hear from Mihai himself about how this simple change transformed his business:

Mihai: “One of the coolest things that happened was that we implemented what you told me the first time we met, like ‘don’t send the offer via email,’ just present it first. And this has had incredible results for us. We have people tell us, ‘Your offer is the highest offer that we have received, but the way that you present it yourself makes us trust you that you’re going to do a great job.’ And they will work with us on those projects. And we have won multiple deals since then. Every week, we are winning deals.”

Mihai’s success story is proof that this one simple change can have a profound impact on your software sales process. It’s incredible how a small adjustment can make such a significant difference. In the world of sales, especially in software sales, what may seem intuitive is only sometimes effective.

So, remember, the next time you’re tempted to send that proposal via email as the first introduction to pricing, take a step back and schedule a Cost Review call instead. This simple adjustment can be the key to closing more deals and building trust with your prospects. 

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