When Price Matters Most

I met a consultant who described her team's first meetings with a prospective client:

"The client executives spent four hours taking us through a long, consulting to-do list. They told us that solving those problems was far more important than price. We were thrilled with the opportunity, and quickly completed a proposal.

"But the client literally showed us the door when they read the proposal and the price. I haven't been able to get a return call from any of the executives since that fateful day."

It's common for clients to experience sticker shock when they see the price tag of a consulting project. With a little work, you can soften the blow.

In initial meetings, clients often say price isn't important. They are focused on getting the problem handled--now. So, clients begin by evaluating a consultant's expertise and ability to get the job done, and they push the issue of price to the back burner, at least temporarily.

Once the client gets close to making a decision, though, a subtle shift takes place. The price and risk of the project take center stage, and the consultant's expertise becomes part of the background.

It makes sense. Once a client is close to a decision, the field of contenders has been winnowed to the firms most capable of handling the work, so attention naturally moves to other factors.

You need to plan for this shift by staying close to your client, particularly at the end of the sales cycle. Tweak your message to stress the value-to-cost ratio of your proposal and show how you will manage every element of project risk. Fail to shift gears with the client, and you'll be shown the door too.