This is module seven less than one, when and how to present your pricing. In this module, you're going to learn an understanding around how and when you should present your quotes and your pricing to customers. You'll learn to create your own best practices around working with prospects on budgeting and pricing and also learn how to feel more confident with presenting your pricing and your budgets to potential customers. So we touched on this really briefly in the last lesson, but prospects need to earn their proposals. Do not just send them out to anybody who asks, a lot of people will ask you for proposal or ask you for a quote, hold them back. Do not send them until you are absolutely sure that they meet all the criteria for a qualified opportunity, and that you have all of the information that you need to have and you are not making wild in the dark guesses about things that you don't know also You want to make sure that they've that they're committed to, you don't want to sit down and spend all this time creating a price and a proposal for somebody who may not even review it, because they're not that committed and they're not there.

So make sure that they the proposals that you created, are anticipated, and that your prospects earned. Real quick, I always tell people to present their pricing in person or on a conference call if they can't, if you must send it over email, like if there's just no way around it. Your proposal template should be very clear. But I also recommend you design it in such a way that it might hold back some information so that they're left with some questions because you want them to come back to you with their with your questions. And you want the opportunity to talk through the proposal. Listen to their reactions, answer their questions and address their objections on the fly.

Right. Then in there, if you send over your pricing or your proposals without you presenting it to them, you leave a lot up to interpretation and it's usually not interpreted in the way that you want it to be. Another point that's really important to make here, and this especially comes up with a lot of inexperienced sales, people, especially inexperienced sales, reps, discounting is not a pricing strategy or sales strategy. offering a discount should not be something that you rely on doing. And it's really hard once you start offering widespread discounts to get out of that. If you have a sales rep or if you hire a sales rep who discounts frequently, you really need to question and look at this person's profit.

How they're targeting, what skill sets they might be bringing to the table in terms of how they work with clients. For somebody who has to discount everything, I would really question their abilities as a sales, you know, sales person, because discounting is not something that you should have to rely on in order to close a sale. So if you're still not sure about the pricing that you're offering a client, if it's just not quite clear yet, you can try what we call the flinch test. So while you're on the phone, or in person with a prospect and you're discussing things and maybe they're pressing you for pricing, you can give them a range. The bottom end of the range should be comfortably within the area that you believe you'll end up quoting them with no discounts applied. So the bottom end of the range needs to be not only comfortably in the area that you believe you'll quote them.

But not too low, it can't be lower than you're willing to go. And we'll discuss that in one of the bonus modules. The top end of the range needs to be generally about 25 to 30% higher. So watch or listen for their reaction very carefully and ask their genuine thoughts on the range that you provided. This will tell you a lot about where they may or may not be. It's also important to make sure when you're giving this flinch test, you're giving it to somebody who is qualified to give you an answer about the pricing.

So when presenting pricing, here's a simple way to go about it. Offer them three choices, option one, this one's stripped down, it's missing some of the components they expressed, they needed and while it should be a reasonable option, it isn't what they want. Option two, this is the package that you designed just for them. It includes everything they want and everything they need and maybe some other nice to have. And option three has all the bells and whistles, this has everything you do not expect them to buy. It has all the premium features, it has more than they asked and includes a bunch of the nice to haves, and it is the higher priced.

Option one, obviously being the lower priced psychologically will always choose the least defensive of three options provided to us. And in this case, this is designed to get them to go for the option that you're providing that you actually designed for them, which is option two. Now, this is a pretty short module, because at the end of the day, I can't really speak exactly to how pricing needs to be presented because everybody does a little bit differently depending on what you're selling. Some people are selling software and they have pricing packages, and it's just laid out and what it is. Some people are quoting everything custom. Everyone's presenting pricing differently.

It would be impossible to speak to it but I did want to give some framework and Some tools to use. If you are still feeling uncomfortable in this area, the next module may help you. That's where we discuss money mindset. And we wrap up the general course. But also I included a bonus module in here about negotiation, negotiation and having an understanding of it. Even if you're not necessarily negotiating on price with your customers is a skill set that often has the effect of making you feel more comfortable with these types of pricing discussions.

So if that's something that you still feel a little uncomfortable with here in terms of pricing, I highly recommend you go through the negotiation bonus. You will love it. We will see you in the next module.