Perhaps, nothing is as vexing to the professional seller as the question of cost when that question is posed before a value proposition has been presented. 

"How much does it cost?"

What do you say when the answer is "it depends"?  I'll tell you one thing you can't say:

"It depends." 

Prospects who ask about the cost of a complicated, customized solution - whether it be in media sales, home improvement, financial advice, landscaping or any of dozens of other disciplines - have zero respect for the challenges of responding to that question.  They want an answer.

You can't blame them, really.  If you were in the market to buy something, you would be annoyed if the exchange went like this:

Custom Solutions Provider:  "Hello, this is Paul.  How can I help you?"

You:  "Hi, Paul.  Do you guys paint home interiors?"

Custom Solutions Provider:  "Yes, we do.  We've been painting interiors since 1978."

You:  "Great.  I have a 3500 square foot home with a two-story foyer and two-story great room.  There are four bedrooms, a great room, a dining room and a den.  I was wondering about how much it would cost to paint."

CSP:  "Well, that would depend on many factors."

You:  "Okay.  Can you give me an idea?"

CSP:  "The cost would depend on the type of paint that we use; the number of workers dedicated to the job; the complexity of the architecture in the rooms; whether or not we paint the molding; the amount of furniture that needs to be moved; whether there are sheetrock repairs that need to be made, etc.  I can't just give you a price."

You:  "Well, I need a price so how do I get one?"

CSP:  "We'll gladly come out to your home, do a survey and then present a customized proposal with an exact price."

You:  "How long will that take?"

CSP:  "About an hour.  Sometimes longer."

And so it goes. 

The customized solutions provider, a painter in this case, has done nothing wrong.  But, the prospect went from nervous anticipation to heart pounding dread during the course of a two-minute conversation.  The dread is caused by:

1) The prospect's experience that anything requiring a "survey" and a "customized proposal" is going to be expensive
2) Trying to figure out the best time to invite a stranger to walk around his home for an hour - or longer.
3)  Understanding that he is going to have to become more of an expert at interior painting in order to understand the right questions to ask during the bidding process.

A prospect filled with dread is one that is not very likely to engage in the sales process.  For professional sellers of customized solutions who wonder why they don't have a higher closing ratio, I propose the reason is a lack of engagement on the part of the prospect.  If you are answering the cost question like the painter in the example above, then the primary cause of the lack of engagement is you.

Since media sales is all about customized solutions, I have discovered the best way to answer the question and encourage engagement is to offer a range and then ask a question.  As in these examples:

Prospect:  "How much does it cost to advertise on your radio station?"

Media Seller:  "We build effective advertising schedules anywhere from $1,500 to $15,000 per week.  What kind of business do you operate?"

OR

Prospect: "My yard is a mess.  I think I need a landscaping plan.  Can you tell me what it would cost?"

Landscape Professional:  "Of course.  Our plans, which include a site visit and consultation, as well as, a schematic that shows the location and type of all shrubbery and ornamentation, cost between $500 and $5,000.  May I ask, how big an area do you need landscaped?"

OR

Prospect:  "My air conditioner is broken and the service technician tells me that repairs aren't going to work.  I need a new system.  Can you tell me how much it will cost?"

HVAC Professional:  "I'm sorry your system broke down.  We can definitely help you get comfortable again.  We'll design, build and install a new system from $6,000 to $12,000.  May I ask, does your home have more than one system?"

Some sellers prefer to tell prospects that they can "build a plan to budget".  But, the problem with that approach becomes clear in these examples:

What is your budget for replacing your roof after recent hail storms?

What is your budget for physical therapy after injuring yourself during a pickup basketball game?

What is your budget for analyzing your financial situation after receiving a large inheritance?

When prospects don't have a budget and find themselves in the market for a customized solution for a product that they've never bought before or only buy very rarely, they will not engage fully in the sales process until the cost question has been answered. 

Here are a few of the advantages to offering a price range and then asking a question that promotes engagement:

1) Prospects who aren't qualified will be less likely to waste your time.  Do you really want to make an appointment with a homeowner, visit their home for 90 minutes and write a detailed proposal for a $5,000 paint job when they thought it was likely to cost them about $750?  When you offer an initial price range that is outside the original expectations of the prospect, they will do one of two things.  1) Tell you that your price is far outside of their expectations and you can then explain how your product is priced or 2) they will disqualify themselves and save you a lot of time.

2) Pricing issues become secondary.  When prospects first enter the market for a product or service, they are consumed by the cost.  Once a range is offered, the question of cost becomes secondary to the specifics of the solution.  Prospects become more patient with the sales process - allowing sellers to build value before offering a specific proposal with a more firm cost.

3) The seller can recommend his preferred solution.  When a CSP tells a prospect that a product or service will cost XXX and their final recommendation actually comes in at 1.5 times XXX she will struggle to make the sale.  If she finally does make the sale the chances are very good that it will be at a healthy discount.  By offering a wide price range and then engaging the prospect in the sales process, the CSP will have the opportunity to recommend a solution that fits the customer's needs.  While there may still be negotiations, the negotiations will center on adding in or taking out components of the solution in order to get to the preferred price.

Prospects like to have their questions answered.  Sellers should answer the cost question with a wide price range and then take control of the sales process through a series of diagnostic questions.  The result will be more engaged prospects and more sales!