When cold calling prospects, you might be wondering when to mention the price of your B2B company's products or services. After all, you know they're going to ask you during the call. They typically buy products or services to facilitate their own business's operations and, therefore, increase their business's earnings. If the price is too high, they may look elsewhere for a cheaper product or service, such as that sold by your B2B company's competitors.
Don't Mention Pricing at the Beginning of the Cold Call
Avoid talking about the price of the product or service at the beginning of the cold call. The first 30 to 60 seconds can make or break a cold call. Since cold calling involves reaching out to prospects with whom you've had no prior contact, you must use this opportunity to earn their trust and confidence.
Jumping head-first into pricing won't work. In the B2B industry, buyers are busy people who value their time. Prematurely mentioning the product's or service's price may result in a quick hang-up. When you get a prospect on the phone, explain that the purpose of your call...and have at least one bit of information about their company so they can tell you've done a bit of research on the company. You can then work your way towards the price.
Mention Value Before Pricing
You should mention the value of your B2B company's product or service and how it can pertain to their business before mentioning price. It's perfectly fine to mention the price of a product or service during a cold call. For maximum effect, however, you should do so after conveying the value of the product or service you are trying to sell.
One of the most common reasons for objections in B2B sales, including cold calls, is pricing. Prospects won't buy a product or service if they believe it's not worth the cost. How do you make them believe a product or service is worth it? This requires the use of a value proposition, which should you mention before the price. Tell prospects why your B2B company's product or service is valuable by explaining its features and benefits and how it can be applied to their company.
After mentioning the price, reinforce the product's or service's benefits. Let prospects know exactly how the product or service can improve their business's operations. You can research a prospect's business before the cold call. Identify a problem within the prospect's business, and explain how your B2B company's product or service can solve it.
Project reports do a lot of this work for you. So when you make a call into the company, you already know who to call that's in charge of the project, what their need is and now you can talk about how your product or service applies to their company need. They will be more inclined to listen as they are aware you know they are in search for a solution.