This face is me thinking of ways to build an empire so that one day I can say “I’m sorry darling but you can’t afford me.” As consultants, we don’t give ourself the authority to say “the price is the price”. Charging your worth is often intimidating, and it’s the one element of business that is most ridiculed.
Trust me when I say I totally understand. When you stand by your price you’re deemed unreasonable, and when you waiver your feel like you’ve betrayed yourself.
We all have been there when you’ve spent hours putting your service list together, you finally get an inquiry, and then a potential customer says “now is just not the right time.” or “whewww that’s expensive.” ⠀
It’s human instinct to immediately think you did something wrong. It could very well be that “now just isn’t the right time” but it still feels like rejection.
One thing that I teach in my program and I try to practice daily is ⠀
✨Embrace the rejection: sounds crazy because it’s probably the absolute last thing you want to do, but the faster you acknowledge it, the faster you can get back to serving your PAYING clients.⠀
✨YOU might be the problem. Hear me out on this one…..⠀
It could be that the person in the DM really felt like your price was expensive OR it’s code for something else. Here are three common price objections that you may encounter.
“That’s too expensive”
Sometimes when a customer says this what they really mean is they don’t think your value aligns with your price. When someone gets ready to pay for something it’s because they either want it or need but it’s always because they think it’s worth it. For example, spending $40 bucks on an overpriced t-shirt at Disneyland for your niece. In some cases, one would look at the price and say “that’s too expensive”, but what you’re really juggling is how much do I value giving my niece this specific gift? Can I find something cheaper that she will like just the same?
Marketing solution: Show your value through your marketing. Draw the customer to what problems you can solve or the results you can deliver. If you can express the value of what your selling it will take the pressure off the price.
“I don’t think this will work for me”
This customer is doubting the results they will get. Resist the urge to freak out and to throw everything at the book at them. Remember that people’s doubts are not a reflection of you or your program’s worth. There are some people with issues from a previous purchase. Someone else could have already tainted their perspective on XYZ.
Marketing solution: Show them proof by using testimonials and reviews. Use your marketing and previous customers to do the talking for you.
“Now isn’t a good time”
which means you may not have created enough urgency around your product.
Marketing Solution: Add language like “limited edition” or “flash sale” to encourage your buyer to shop now.
Keep in mind all of these comments could very well be as straightforward as they sound. But if you have the opportunity to speak with your customer about their reservations, dig a little deeper and see if any of the above solutions work.
If you want to dive deeper into these marketing solutions Click here to learn more!