When’s the right time to discuss price with clients?
In this Live With The Pricing Lady episode, we’re tackling one of the trickiest aspects of pricing strategy: when to bring up price in conversations with clients. Jumping into it too early can make your conversations feel cold and transactional, potentially putting off clients before they see the value of what you offer. On the other hand, waiting too long can lead to frustration, erode trust, or even cost you the sale. In this episode, I’ll walk you through how to read the room, build value first, and transition seamlessly into pricing conversations in a natural and meaningful way.
Tune in to learn techniques that will help discuss price with clients with more confidence, strengthening customer relationships and setting the stage for successful outcomes!
What to Listen out for:
- 04:17 Understanding Client Needs and Expectations
- 05:52 Establishing Value in Your Offer
- 07:25 Timing the Pricing Discussion
- 13:36 Positioning Price as Part of the Solution
- 15:21 Summary and Final Thoughts
Favorite quotes from this episode
“How you choose to communicate your prices can make or break a deal.” Janene
…”when the time is right and you’re ready to talk about the price, the key element here is to be appropriately transparent… then you want to talk about the things that lead to value.” Janene
“Positioning it as a cost or positioning the price as part of the solution that they are getting to. I think it’s a very clear in the second case that positioning it as part of the solution. Puts it in a much better context.” Janene
“People are looking for a business partner for someone to work with them, to guide them. You want to stay in that relationship space and not present your offer in a transactional concept.” Janene
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Get started improving your business. Beyond this pricing podcast there’s more for you to explore. Sometimes it’s difficult to know where to begin. I suggest you Download the the self assessment Pricing Scorecard to get a view of what’s working and not in your business. Ever wondered, “What’s a fair price?”, check out my on-demand webinar “Getting to A Fair Price“. Two great places to get started with pricing in your business today.
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Episode Summary
In this episode of Live with The Pricing Lady, we’re exploring a crucial aspect of your pricing strategy: the timing of price discussions with customers. Knowing when and how to discuss price with clients can be the difference between a deal won and a deal lost. If you introduce it too early, you risk turning a relationship-building conversation into a purely transactional one; wait too long, and you might lose the customer’s interest or trust.
Today, we’ll dive into the key elements that help you time this discussion appropriately, enhancing your customers’ perception of value and ultimately setting up more successful outcomes.
1. Understanding Different Business Models
First, it’s essential to consider the type of business you’re running. For instance, brick-and-mortar stores and straightforward online purchases generally display pricing right at the point of sale. But if you’re offering bespoke services or customized solutions, a one-on-one conversation to understand client needs becomes a must before discussing pricing. This helps set clear expectations and aligns your offering with the client’s unique needs.
2. Scope and Establish Value Before Pricing
The first step to know when to discuss price with clients, especially in services, is understanding your client’s needs—i.e. “scoping the offer.” This involves a conversation focused on understanding, not selling, allowing the client to feel valued and heard. Once you’ve identified their priorities, it’s time to establish the value of your offer. Whether it’s efficiency, convenience, or expert guidance, make sure to align your solutions with what matters most to them, creating a strong foundation for the price discussion.
3. Is there a perfect time to discuss price with clients?
Timing is everything when it comes to pricing and there’s no one-size-fits-all answer. After scoping and establishing value, you’re in a better position to bring up the price. Introducing it too early can make the discussion feel transactional, but waiting until the client is ready creates a more natural transition into pricing, reinforcing a relationship-focused approach. And let’s face it some clients will ask even before the conversation has started. This is a queue to you that they may be very price sensitive – start listening to understand if that’s really what they value most. This will help you judge when to discuss price with the client.
4. Transparency and Context in Price Communication
Once you’ve identified now’s the time to discuss price with clients, transparency is essential. However, avoid simply listing costs. Instead, focus on the overall value you deliver, presenting your offer as a comprehensive package, as an investment they will make to get the outcomes they seek, rather than individual items with separate prices. This ensures clients appreciate the full value of what you provide, rather than zeroing in on line items.
5. Position Price as Part of the Solution
Positioning is everything—frame your pricing as part of the solution (or an investment) rather than a “cost” to the client. By aligning the price directly with the client’s goals and needs, you transform the discussion from one focused on expense to one focused on the investment they’re making in achieving their objectives.
Conclusion
In summary, effective pricing conversations are all about understanding customer needs, establishing the value of your offering, and timing the price talk thoughtfully. By paying attention and listening you’ll know when to discuss price with clients. Keep the discussion open and centered on a long-term relationship, not just a one-off transaction. By leading with transparency and presenting price as part of the value, you’ll foster trust and build strong business relationships that last.
I hope you find these insights useful as you refine your pricing approach. And if you’d like more tips, explore ThePricingLady.com, where you’ll find resources like our pricing strategy self-assessment tool to support your journey. Remember, effective pricing is a powerful step toward elevating your business success. Until next time, happy pricing!
And don’t forget: Listen to the full episode for even more in-depth advice! Tune in wherever you get your podcasts.
