Answering the Most Asked Question in the Showroom

"How much is my new bath going to cost?" is probably the most asked question in your showroom. Most likely your response is that it depends on a number of factors followed by an inquiry about the person's budget. This approach begs the age-old question of who should talk about budgets first, the showroom or the client? Traditional sales consultants would argue the person who mentions money first loses. Recent academic research counters by claiming that if you mention price first, you take control of a negotiation and set the price range with an anchor.

 

The Black Swan Group however disagrees with those academic claims, arguing that the first to mention price is at a disadvantage because too high of a range for an anchor price may scare the prospect off and without knowing what a potential budget might be, the customer may not be ready to commit to the project or your showroom. Additionally, Michael Silverstein told DPHA members at one of our past annual conference that showroom customers who become emotionally connected to a product or service will spend up to three times what they initially budgeted.

 

For showrooms, an effective tactic typically is to state, "The price of a new bath depends on a number of factors ranging from the scope of the renovation to the quality, originality and customization of products that will meet your desired goals. Before we talk price, let's talk about what you want to achieve with your renovation and the look and feel that will help meet, if not exceed, your goals." Reinforce to the prospect that you can work with almost every budget imaginable. After all, it's not in your client's best interest to have unrealistic or unachievable expectations. One of the very important roles a professional showroom salesperson offers is the ability to minimize surprises.

 

Another consideration is that your prospects already have a basic understanding of the cost of a bath renovation because they have spent months researching things prior to coming to the showroom. If the prospect starts using industry jargon, thermostatic versus pressure balanced or ceramic disks, PVC finishes, etc., you know that they have done their research.

 

If the prospect pushes for a price before a scope is determined and quality levels agreed to explain that a new bath is comparable to a new car. You can spend $20,000 or more than $100,000 depending on the make, model and options. Everyone one of your customers, builder clients, trade professionals and others whom you sell to most likely can obtain the products that you provide at a better price. However, the lowest price is almost never the lowest cost - it's not about product price. Focus on the value-added services that you provide that more than compensate for for the potential to obtain products at a lower cost.