How to optimize your discovery calls to land higher price deals

Regarding your sales and pricing process, the discovery call is arguably your most critical step.

A discovery call is a meeting where you learn more about your prospect or client’s needs and value drivers so that you can propose a solution that makes commercial sense for both parties.

Contrary to what many do, a discovery call is not a consultation. This call exists for you to understand your prospect’s situation and extract relevant information to help you understand what’s required of you and how to price your work.

You’re not providing advice here, you’ll get paid for that later. Knowing what price to set, coming up with a high price and landing that high price has everything to do with assessing the amount of value you’re creating for your client and prospect beforehand.

A well-designed discovery call will allow to you assess the amount of value you’re creating for your client so that you’re armed with the information that you need to set your price.

For example, instead of asking, “How many bank transactions does your business have each month?”, transition to a follow-up questions that ask: “How does it make you feel to spend your time reconciling these 200 bank transitions per month?”

If the prospect responds by saying it drives them nuts and detracts from the growth of their business, you know you’re able to set a higher price in this situation if you can eliminate that pain for them.

If setting higher prices are important in your firm work on improving your discovery calls. With the right questions asked and your discovery call completed, you’re in a great position to set higher prices in your firm!