LOL – it’s annoying isn’t it? Of only those lousy customers would just tell us how much they have to spend, we would know how to price stuff! I don’t know if there’s a sure-fire way to do it aside from just asking and hoping they tell you. You can get clues by looking at who else they are evaluating, what they are currently replacing, what their broader budgets (like for the whole department or division) are. Salespeople will argue with me on this one but I like to put some ballpark costs on the table to see how the customer reacts. There is nothing worse than spending to much time with a customer that really can’t afford what you are offering.
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Do they really need your product? What is it worth to them? Are they going to save time? money? make life easier? solve a problem/issue? What value does your product bring to them? Ask these questions and you will be closer to some honest answers. You need to show the value of what your selling so they can't resist buying.
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Hi April, This is often due to businesses not understanding marketing as an industry. Clients don't realize that the sky is the limit and that we could just as easily produce a $200,000 proposal as a $5,000 proposal. I find it helpful to walk clients through what is involved in a marketing proposal, the issues that'll come up from their perspective, then I work through the problems they will face when comparing proposals of differing value and features. Often they are afraid of getting 'screwed', so talking about how a budget can help protect them by making it easier to evaluate them. They will often get behind the wisdom of that proposition. The next thing I do is talk (if they don't have a marketing rep) about how much they should spend on marketing as a whole, we are a digital agency so this helps soften the segue to our final destination the $$ portion that should be allocated to digital works. I hope this helped because I ran out of room...hahaha
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0 votes
Just ask them.
