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

Almost, if not, all potential customers will require the best products or services at the lowest possible rate. Thus, they may ask early in the selling process a similar version of the dreaded question: “How much will I have to pay?”

The dreaded inquiry makes several sales representatives uneasy since they know in most cases prospects will deem that the product’s rate is too high. Likewise, prospects will either terminate the sales process or begin to negotiate by asking for discounts.

Below are three probable questions and responses of how to opportunely tackle 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!

To initially avoid answering the alarming question, a sales professional can mention something similar to this: “Well it depends. Until we talk about your interests and needs, I will have no way of knowing what to recommend or what investment is required.” Then the sales professional should seek to proceed in the sales process by setting an appointment to administer a presentation.

If the alarming question is asked before the presentation a sales representative should mention the same statement above. Next the sales representative should ask “What solutions, features, and/or benefits do you typically look for when you acquire products like these?” to begin the presentation.

What if the service or product has a set cost? A sales professional can certify that the product has a set cost. However, before furnishing the exact cost (if the prospect does not know), a sales professional can advance in the selling process by stating “Let’s discuss your interests and needs to verify if this product is ideal for you.”

What if a prospect persistently seeks an answer to the alarming question? A sales representative can supply a range and mention “After we discuss your needs and interests and find a suitable product offering, the required investment will be provided.” Then advance in the process by either conducting a presentation or scheduling an appointment to conduct one.

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.

To succeed in the sales profession, a sales professional must master prospecting. Prospecting is one of the most challenging and significant stages of the sales process. A sales professional could be the best presenter in the world but will not experience a lot of success without a pipeline filled with quality prospects. Selling is a numbers game and the more quality prospects a sales representative have, the more chances the representative will have to produce sales. Below are 7 steps to successful prospecting.

1. Determine Your Niche Market: locate a niche where your product offerings will successfully fulfill your prospects’ needs or problems. To gain the trust of your potential customers, you should become an expert in your target market.

2. Locate Your Potential Customers: create a directory of potential customers located in your marketplace. Potential sources you could utilize are the Internet, lead lists, library resources, and personal contacts.

3. Prequalify Your Potential Prospects: determine which potential prospects are qualified based on having a need for your product offering, sufficient monetary resources, and the authority to make a purchase decision. You may have to fully qualify prospects during the first contact.

4. Create a Script: prepare a prospecting script to remain consistent and focused as you briefly emphasize the value you can provide by meeting your potential customers’ needs. Include answers to common rebuttals or objections you expect to confront.

5. Determine Initial Contact Preference: decide whether to utilize mail, personal connections, and/or referrals to transform your initial contact with potential customers from “cold” to “warm”.

6. Contact Your Prospects: utilize your prospecting script to ask your potential customers for the sale by establishing meetings to present your product offering.

7. Develop and Execute Your Plan: create daily, weekly, and monthly prospecting aspirations and dedicate time to achieve these goals to ensure you maintain a healthy pipeline filled with qualified prospects.

By following this 7-step prospecting approach, you will develop a solid foundation to a lucrative, exciting, and rewarding sales career.