What is the price? How much is it going to cost me?
Price presentation, one of the most important parts of the demonstration. Prospects can't find the prices online, won't receive them on the phone, so they are eager to learn how much our awesome software system is going to cost them.
Make sure you master the different steps of presenting the price, because after the price presentation (and perhaps objection handling) there is a perfect moment to close a prospect on the spot.
"Would you capture it, or let it slip"? (Eminem - lose yourself)
When do we present the price?
Prices before a demo?!
Prices before a demo?!
We don't present the price before a demonstration. In the demonstration we show the benefits of working with our system and build value (what is the system worth). When the value is higher than the price, the prospect is ready to buy.
When you present the price before building value, the prospect will weight value vs. price based on his/her own perceptions and assumptions. This drastically increases the chance that the prospect decides Virtuagym is too expensive, since not all the benefits are clear.
When someone asks you about the pricing for the first time:
- 1. Our monthly price really depends on what you want. You can determine your monthly fee yourself by choosing the package that suits best to your needs. So it really depends what features you choose yourself. I would suggest to schedule a short demonstration so we can go over the different options and we can choose your package.
A lot of prospects understand this way of building up pricing and will agree to schedule a demonstration with you. There are however still prospects who want to get pricing and they will ask you for the second time
- 2. It's really hard for me to give you an indication because it all depends on the features that you choose. If I give you a price now and it turns out that during the demo you want extra features, I feel I have deceived you. But if I give you a pricing now that's to high you will think that this software is not for you. So I'd suggest to schedule the demo and go over all the features so we can select the best package for you.
Again, this is for a lot of prospects understandable and they agree with a demonstration. Unfortunately there are still people who wil ask for the pricing the third time. They either want the pricing as it is or an estimate of the monthly fee.
- 3. Our software system is fairly priced. We have packages starting from €39 a month. From there on out we will build up this price with the requirements you need. So that is why I always prefer to do the demonstration first, so we know exactly which aspects of the system could be relevant for you. So if you're interested I'd be happy to provide you a demo of our software.
The most important thing is to close this objection with a positive ending, instead of letting it end with a NO.
- The prospect always weighs price vs. value
- The prospect has a good idea what Virtuagym can do before a demo
- It is important to end the objection handling with a positive vibe
- If the prospect is demanding on the phone, you can give them a price
- Virtuagym is very competatively priced and cheaper than using 5 seperate software systems
10 steps of presenting the price
Price presentation in 10 steps
Presenting the prices:
Here are the 10 steps for a successful price presentation:
- Any questions about the system? When you finished your system demo, make sure to check if the prospect has any questions about the functionality of the program. You can tackle them now and once the price presentation started, focus on closing on the spot.
- Ask opinion about the system: Time to let the prospect sell the system to themselves. Let them tell you how much they like Virtuagym. Think of different questions like: what do you think of the system? What is your favorite part? Do you think this is something you/your staff can use? What do you think your clients will think?
- Explain 3 packages: "We work with 3 different packages: Coaching & Apps, Member management & the professional All-in-One package".
- Advise the best package for them: "The best package for you is obviously the all-in-one package".
- Explain how our pricing is built up: "Our monthly fee is based on the amount of members you have and the features you choose".
- Tell the monthly fee:
At the beginning of the demo you already know what the prospect wants.
Make sure you calculated the monthly fee before starting the price
“So you said you have 40 members, 1 schedule and a custom app,
your monthly fee will be €137 (Fictive).
Tell about the set up fee and contract length: "Furthermore we charge a one time set up fee of €... and work with a 12 month contract".
Tell them what it includes: In return you will get everything that we covered today and what is important to you (summarize important features) and a one on one implementation with the support team.
Tell them how to proceed: Tell them how to get started. “The next step would be that I can send you the activation link and we can activate the system right away”
Ask to join with confidence: "So, are you ready to get started"?
Any questions about the system?
Ask opinion about the system?
Explain 3 packages
Advise the best package for them
Explain how our pricing is built up
Tell the monthly fee
Tell about the set up fee and contract length
Tell them what it includes
Tell them how to proceed
Ask to join with confidence
ABC Baby --> ALWAYS BE CLOSING
The famous Alec Baldwin used this quote in the movie Glengarry Glen Ross: Always be closing.
Really simple technique: Close your sale as soon as he/she says yes.
Don't send them a link to finish the activation later. This only provides time for the prospect where they can change their mind.
So when you completed step 10 Ask them to join with confidence: So are you ready to join Virtuagym?
Yes --> Complete the activation process together:
"As part of our service I'll send you the activation link right now and we'll complete the activation process together".
This way you can make sure your sale is garantued.
- Always close your sale on the spot
- Once a prospect confirmed he/she wants to join Virtuagym, they will join straight away
Select the right sequence - price presentation
- Any questions about the system?
- What do you think of the system?
- We work with a coaching & apps package, member management and the professional All-in-One package.
- The best package for you is....
- We work with a "pay as you grow" and "pay as you use" model. Our monthly fee is based on the amount of clients you have and the features you want to use.
- You have 40 members, 1 schedule and a custom app. This brings us to a monthly fee of €137,- (fictive).
- We work with a one time set up fee of €399,- and have a 12 month license agreement.
- In return you'll get your own branded online system, with the opportunity to create training- and nutrition programs for your clients, keep track of the appointments and automate your payment process. When you get started, you'll have a one on one implementation with our supportconsultants.
- The next step would be that I'll create an activationlink for you. You can fill in the business details, complete the payment process and we can get you started right away.
- So, are you ready to get started?
- Super, that is awesome to hear. As part of our service, we will complete the activation process together.