- Have you ever had a potential customer say to you,
"Your price is too high.
"This is just too expensive.
"I can't justify this right now,"
or something similar?
- What do you usually say back to them?
Let us know in the comments.
- It's really tough, isn't it?
And if you start to then try to justify
and try to reinforce why you're so awesome
and why your product or service is so awesome,
it just starts to come across as a little bit desperate.
And if you need the business it's all too easy
to just do a discount.
- But we don't want you to do that, no.
In this video we're going to show you
how you can secure clients at the rate you deserve
without ever discounting.
Let's do this.
- Boom.
There's two main reasons why someone might say
that you're too expensive.
The first is that they legitimately,
actually can't afford it and it is too expensive for them.
Now 90% of the time we don't actually think that's true,
and we'll get to that in just a second.
But if it is true, and they really do wanna work with you
and you wanna work with them, then let's make it happen.
There's some ways that you can still make this work.
Now the last thing you want to do is discount your prices.
So forget about it.
We're not doing it.
Push that to the side.
We are not discounting.
However, what you can do is less work for a lower amount,
and let's talk about that.
- A good question to potentially ask
if they give you the, this it too expensive line,
is to say, "Okay, what were you expecting it to be?"
This will give you a much better idea
of what their budget actually is.
Bearing in mind, it is probably gonna be a little bit higher
than the price that they give you,
but with this new information we now can work out
a smaller package without discounting.
- For example, rather than a full day's worth of consultancy
plus a follow-up call, plus an extra bonus training,
plus an online course access for a full year,
wait, why don't you just do a half day
or an hour or just whatever their budget can stretch to?
This works great because it's win-win.
You're still getting money
and you're still getting your high rate,
but you're just doing less work,
and they still get a piece of you.
It's win-win.
- Or another thing you can do is offer a payment plan.
This makes things a little bit more manageable
and, again, it's win-win.
You're still getting paid and it's a little bit easier
on your customer's cash flow.
- Now getting into a stage
where you're offering to do less work
or payment plans is a great way to salvage the sale,
but really, really we want them to buy at the full rate
straight away, outright, right?
- Right!
So the real reason people are probably saying
that you're too expensive
is because they don't see the value yet.
They don't think it's worth that amount of money
because they don't see what they're going to get in return.
(soft instrumental music)
Tell me to hurry up, I've probably three minutes left.
- I was like stuck in a really awkward facial position.
- Okay, hold it. - Okay.
- So if they start saying things like,
"Why is it that much," or "Wow, that's expensive,"
you need to immediately start questioning that,
so you can get a much better understanding
of why they think that.
Which gives you a much better shot
at changing their perspective too.
So if you get that response of "Wow, that's so expensive,"
you should start asking questions like.
- Okay, interesting that you think that is expensive.
Out of interest, what are you comparing this to?
Hmm?
(laughing)
I love our role-plays.
- Yeah I feel like we act like.
- We're like role-play kings. - Hmm-mm.
(soft instrumental music)
- Okay, lemme go on this line.
- Role-play kings, here we go.
- Why do you think it's expensive.
I compared and checked and it was the same.
It's not the same thing.
Lemme explain why.
This might take a tick too.
- Role-play kings over here.
Two take Pete.
(laughing)
(Andrew coughing)
- Yeah, you cough.
- I'm still ill.
- Yeah, whatever.
- Ready?
Because then you can start to say.
- Ah well now I see why you think this is expensive
because you're comparing our shiny new awesome thing
to a secondhand crappy thing, like what?
It's not the same.
Let me explain.
- That was meant to be a scary tone,
but it felt like a wise, old fantasy man.
Oh what I see.
I hope you get the point guys.
- Cut that.
No, we're redoing that.
- No, we're not redoing that.
- Yes we are.
Totally redoing that.
- That was perfect.
- No, it was not.
- I didn't even say, I didn't even finish.
Now you can start to build up that credibility
and desire again to start working with you.
At this point you might even want to ask them
why they came to contact you in the first place.
They wouldn't be having this sales conversation with you
if at some level they didn't believe
that you were right for them.
So almost get them
to sell your credibility back to themselves.
- They may even start to say things like.
- Well, I follow you on LinkedIn
and your posts are always really good
and the advice is amazing,
so I thought we'd be a good fit.
- All Americans are gonna hate us after that.
- That wasn't an American accent.
- No, it wasn't.
(laughing)
And when you're having this conversation,
the second thing you wanna do is talk hypothetically
about their goals, right?
So bring it back to the desired outcomes that they want.
For example, our Atomic Programme
helps businesses double their income.
(bell dinging)
Good, good, good,
good way to make the jump go really easily.
- I thought you were gonna like continue.
Not just stop mid-sentence.
- Now if you're making, say, 2,000 pounds a month,
and your goal is to make 4,000 pounds a month,
what does it matter if we charge 500 pounds
or 1,000 pounds or 2,000 pounds?
It's 570 pounds by the way.
You'll still have a great return month on month.
So clarify that to them and make it very real to them
by bringing it back
to what they're actually trying to achieve.
And if you're watching this
and you don't actually know your true worth,
like you don't know what
you could help people actually achieve,
then maybe it's time to work that out first.
- This should be enough to clinch the deal
and get that sale.
But if not, it might be
that they just don't trust you enough yet,
maybe you've just met them.
Or maybe there's some kind of risk involved
or some kind of objection.
So can we mitigate that risk somehow?
For example with our Atomic Programme,
we actually have a two-step money back guarantee.
- Plus after the 30 days if you join and do the work
and it doesn't make back at least your investment,
then you can also get your money back.
- Do you see here how we've tried to mitigate the risk
of joining our programme?
Essentially, if you join and don't like it
or it doesn't work for you, you will get full refund.
So there's no risk on that side.
And then on the flip side if it does work,
just like it has with hundreds of other members,
you can actually go on to double your business
and beyond and be very happy.
So there's like no risk.
We're trying to mitigate that risk constantly.
- So if someone says to you you're too expensive,
firstly try to work out why they think that
and try to demonstrate the value of your product or service
and mitigate those risks.
If that doesn't work, work out their budget
by asking what were you expecting
and decide if you can do less work
for the budget that they have,
importantly, without discounting.
Or maybe it's a good idea to implement a payment plan.
And if none of that works, maybe it's time to walk away
from that deal.
- If you want more help and more advice,
then we've got two videos to help you out even more
that are gonna appear on this very screen in just a second.
One is all about how to close a sale
and the other is about option-based pricing and proposals.
- If you've got any questions about any of this,
then please do drop them in the comments
and whilst you're down there,
we would absolutely love it if you subscribe.
We do more of these videos every single week.
I've been Andrew.
- I've been Pete.
- See you next time.
(upbeat instrumental music)