How I FAILED to close the client on initial offer but came out better

7 replies
Hi all

So I had a meeting with a client on Saturday which I contacted via this method:

http://www.warriorforum.com/offline-...step-step.html

Out of 60-70 emails I sent out she replied and invited me into talk.

This would have been my 3rd meeting with a potential client.

The 1st one said "I'll think about" after spending over 7-6 hours at his business as well as mapping out his plan.

2nd client couldn't afford it as his business was a startup and didn't have that kinda of cash flow.

I think in each of the above meetings I didn't "keep quiet" after the closing statement. (He who speaks first loses)

This 3rd client, warmed to me as my approach via email (although spammy) stood out. We spoke on the phone and said she was impressed etc as she gets lot of idiot companies that cold call without knowing what her website address is.

So we spoke and then she said, how much will you charge?

I said "For you £500 per month "

I zipped it! and I made sure of it.

She kinda thought about it and nodded and said "ok" lightly, looking away.

I wanted to make sure that this was her reply because to me, "ok" is too a short a reply and I wasn't sure this was even a proper reply, so I waited more for her to speak, and she did.

The was the green light to carry on the meeting. After all that she went on to say that £500 was expensive and she'll probably carry on with her own SEO.

I thought all was lost from herehere (oh well) win some lose some, that's 3 losses in a row now. I was going to lower my prices but I didn't want to devalue my service considering the amount of time I would need to spend on this project.

Based on her website I thought she should explore another segment of her market on the same website, but I didn't get a chance to sell SEO for that portion of the website considering my price was too high for her.

We started talking about that segment of the business which is retail market (initial offer was the wholesale market). She started telling me who these players are and what they sell, how they source the products etc.

To cut a long story short,

We're going into partnership to build a retail website for mass market. She has all the connections overseas in China for mass productions. She currently does on a small scale (bespoke, individual orders) but knows she needs to attack this market on a full scale, full e commerce site.

I've always wanted to real tangible business but I've always had issues in supplying the products / or I wasn't too comfortable in dealing with that side.

although I didn't get the £500 order, I'm coming out with a business partner that has the connections, can speak chinese, sees the massive opportunity in sourcing products from china.

yeah its a long term project and probably no return for awhile but I think the contact who can speak the language is worth more than £500 per month.

My experience in offline marketing is limited but all I can say is just get speaking to clients, you never know what you might get out of it.

All we need to figure out is how much equity share we get each
#client #close #failed #initial #offer
  • Profile picture of the author Seantrepreneur
    Awesome to hear!

    There really are opportunities everywhere and we just open our eyes and let it happen. I feel like sometimes people are so focus on money and where to get it that they sometimes miss the big picture.

    I like the quote that is something like: "Money is like a cat, the more you chase it the more it runs away from you."

    Good job on looking at the big picture! It will pay off in the end!

    Sean
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  • Profile picture of the author Dexx
    Originally Posted by Michael Nguyen View Post

    The 1st one said "I'll think about" after spending over 7-6 hours at his business as well as mapping out his plan.

    2nd client couldn't afford it as his business was a startup and didn't have that kinda of cash flow.

    I think in each of the above meetings I didn't "keep quiet" after the closing statement. (He who speaks first loses)

    This 3rd client...we spoke and then she said, how much will you charge?

    I said "For you £500 per month "

    ...After all that she went on to say that £500 was expensive and she'll probably carry on with her own SEO.

    I thought all was lost from herehere (oh well) win some lose some, that's 3 losses in a row now.
    Looks to me like your biggest problem is lack of proper qualification of leads...none of the above should ever happen if you do th proper homework first before meeting with a business.

    A 6hour meeting!? Without getting paid!? That's 5hours WAY TOO LONG.

    Within one hour you should be able to show value, direct them to take action, and get a result...

    The remaining 5hours you wasted could have been used to book 3-4 more meetings.

    Hopefully you keep this in mind from now on

    ~Dexx
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    • Profile picture of the author Michael Nguyen
      ^Thanks Dexx

      I've only just started to realise that. My thinking was that, the longer I spend time with them, the more likely they will buy, but now I'll definitely pre-qualify the client, "get" them to to agree on the value offered within the hour and then go in for the order.
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  • Profile picture of the author Dexx
    Indeed. Your tim = money too, don't forget that.

    ~Dexx
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  • Profile picture of the author Aaron Doud
    Agree that a 6 hour meeting is crazy. I'm not sure if would go even 2 hours unless they were buying and needed to work out the details right than and there.

    The not be able to afford it happens. But did they see the value in their 500 a month? If 500 a month would bring them 1500 or more a month in business it would be worth it. I think the key lesson here is sell them on the benefits. Maybe ask them to do the math. How much is a customer worth? How often does a lead convert. How many more customers they would get thanks to your service.

    As for the business connection that is great if it has potential and only you can know that. So good luck with it.
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    • Profile picture of the author TheLocalCoach
      Nice Michael!

      Whatever you did to get there, even with the mistakes you may have made along the way, you ended up in the ultimate position, the coveted "trusted adviser" status. So your 'failure' to sell her SEO might end up as a much larger opportunity.

      Tip for next time, when you are asked, "How much will you charge?": in a non-challenging and non-salesy way, respond with something like: Well, can I ask, what do you think ___________ (summarize your solution and insert your value proposition) would bring you in ______ (new customers/new biz/increased revenue)?

      Often your prospect will name an amount higher than what you charge, and if not, maybe you can "help" them see more value in your service prior to you naming a price.

      Good luck and good start!
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  • Profile picture of the author link82
    I've only had one meeting (and he's my client now) so take this lightly. Who (what niche) were you going after? $500 shouldn't be a lot if they know what you're about to do for their business. Hopefully I'll remember these things when I have more meetings :O

    But like you said, you came out with a powerful business partner, so good for you!

    But 6-7 hours for a meeting? I am not sure if I do ANYthing for 6-7 hours, let alone a meeting. My first meeting was maybe 30 minutes. Then I told him he knew how to contact me. I guess I left the meeting making him feel that he needed my services.

    Anyway, keep prospecting. Your future client is waiting for you
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    Quietly Selling Powerful Links. Just a handful on clean domains, PM me for inquiry :D
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