"It's too Expensive" - WHAT'S YOUR BEST RESPONSE? | Warrior Forum - The #1 Digital Marketing Forum & Marketplace

7 years ago

That is the worst reply you can get right!

I don't do any cold calling or anything like that - but I have learned a little bit from people who do and are very good at it.

The best reply to this, will depend on what exactly you are selling.

If you are selling a business opportunity, what you can say is something like this; "Well, how much is changing your entire life, worth to you? .... how much is having the time and freedom to enjoy life with your loved ones, and give them the life they deserve, worth to you?" ...

You have to tap into people's emotions - to make them see the bigger picture.

Now, I'm not sure what you are selling, but this would be my advice if you are selling a business opportunity

You should look into Jordan Belfort's Straight Line Seminar video series. He is a master at selling through the phone!

Here is some good information from Brian Tracy as well:

closing the sale - YouTube

Hope this helps!

Keep up the great work!!

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SupremeOverlord

7 years ago

Originally Posted by FreedomBlogger

That is the worst reply you can get right!

I don't do any cold calling or anything like that - but I have learned a little bit from people who do and are very good at it.

The best reply to this, will depend on what exactly you are selling.

If you are selling a business opportunity, what you can say is something like this; "Well, how much is changing your entire life, worth to you? .... how much is having the time and freedom to enjoy life with your loved ones, and give them the life they deserve, worth to you?" ...

You have to tap into people's emotions - to make them see the bigger picture.

Now, I'm not sure what you are selling, but this would be my advice if you are selling a business opportunity

You should look into Jordan Belfort's Straight Line Seminar video series. He is a master at selling through the phone!

Here is some good information from Brian Tracy as well:

closing the sale - YouTube

Hope this helps!

Keep up the great work!!

Awesome! Great stuff. I use to do something similar in retail. When someone would ask "How much is this?" (With that look in their eyes that it must be expensive), I would ask "How much is it worth to you..." They would giggle and blah blah blah. It didn't always result in a close, because I didn't really have a solid rebuttal for the ensuing "Oh that's too much!"

But, I'll see what I can do with that. By the way, I'm an avid student of the Straight Line System, but it doesn't really go into detail on how to handle specific objections other than "I'll think about it". It's mostly tonality and mindset stuff, which is fine, but COME ON, show me the beef already!

There has to be a better way, a formulaic system for handling these objection on a consistent basis...

Thanks

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eccj

7 years ago

"it's too expensive" can mean that you didn't build enough value or you are pitching the wrong thing to the wrong people.

Either way I wouldn't waste time trying to come up with a rebuttal, you need to build the value first.

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SupremeOverlord

7 years ago

Originally Posted by eccj

"it's too expensive" can mean that you didn't build enough value or you are pitching the wrong thing to the wrong people.

Either way I wouldn't waste time trying to come up with a rebuttal, you need to build the value first.

HERE WE GO. I knew it! It was only a matter of time before I got this textbook "advice". "Oh you're not building enough value..."

Look, I appreciate your input but, no matter how much "value" you build you will still get objections like these, so YOU MUST REBUTT. That's what separates top closers from wannabe's. In fact, sometimes prospects use this exact objection as a negotiation tool, but it's not always easy to spot.

Do you have any other input on how to build value or overcoming the price objection? I'm listening...

Thanks
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savidge4

7 years ago

I personally do not hear this very often... BUT.. "Its too Expensive" should most often be followed right up with a reset in the presentation. This may sound like "Ok, lets rewind for a moment" or "Lets take a step back shall we?" reset the presentation back onto you building value.

I am not saying that you go back to the point in your presentation where you are developing these points. If it didn't work the first time.. it probably will not work a second or third or fourth time around. You must speak a language that the listener can understand. At this point in the conversation you should have had the opportunity to get a better handle on the person on the other end of the phone. You should then be able to present your value in a language they can better understand.

IF following that step there is still the objection 'Its too Expensive" as Claude might suggest, you can then negotiate to a lower price by removing elements of the package. "if $2000 is to much how does $1500 sound? We are offering SEO and content development for the $2000. for $1500 we could follow through with the SEO aspect alone. It would not be as effective, but this is something that we can do."

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SalesGod

7 years ago

Originally Posted by savidge4

I personally do not hear this very often... BUT.. "Its too Expensive" should most often be followed right up with a reset in the presentation. This may sound like "Ok, lets rewind for a moment" or "Lets take a step back shall we?" reset the presentation back onto you building value.

I am not saying that you go back to the point in your presentation where you are developing these points. If it didn't work the first time.. it probably will not work a second or third or fourth time around. You must speak a language that the listener can understand. At this point in the conversation you should have had the opportunity to get a better handle on the person on the other end of the phone. You should then be able to present your value in a language they can better understand.

IF following that step there is still the objection 'Its too Expensive" as Claude might suggest, you can then negotiate to a lower price by removing elements of the package. "if $2000 is to much how does $1500 sound? We are offering SEO and content development for the $2000. for $1500 we could follow through with the SEO aspect alone. It would not be as effective, but this is something that we can do."

I agree with the first half of this. You should do such an incredible job building value in your pitch that this objection shouldnt come up but sometimes it does and you can handle it a number of ways.

As for the second part, you should never lower your price, as a matter of fact you should be selling over priced. A toyota Camry and a lamborghini, are very similar. They both have 4 wheels, an engine, windows, a steering wheel. They both get you from point A to point B right? Why is one so much more expensive then the other?

Be the lamborghini not the Camry and you don't have to worry about price.

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savidge4

7 years ago

Originally Posted by SalesGod

As for the second part, you should never lower your price, as a matter of fact you should be selling over priced. A toyota Camry and a lamborghini, are very similar. They both have 4 wheels, an engine, windows, a steering wheel. They both get you from point A to point B right? Why is one so much more expensive then the other?

I might suggest reading again? am I really lowering the price OR increasing the value in the original price? using your example. A Camry for $25,000 is to much? How does $22,000 sound? You can drive the car off the lot today for $25,000. or for the $22,000 you would have to supply the wheels and tires and void the 5 year 100,000 mile warranty. ( using theoretical numbers )

If all the elements have been developed in the presentation, the client understands that all the bits work as a whole. Yes the price may be less, but the overall effect or value is dropped 10 fold by the lessor option.

In the example above wheels and tires are not such a big deal but the warranty.. WHOA. Much the same with the first example.. the use of "It would not be as effective, but this is something that we can do." You are clearly lowering the price, dropping the hyped expectation and developing an increase in value for the package as a whole.

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SalesGod

7 years ago

Originally Posted by savidge4

I might suggest reading again? am I really lowering the price OR increasing the value in the original price? using your example. A Camry for $25,000 is to much? How does $22,000 sound? You can drive the car off the lot today for $25,000. or for the $22,000 you would have to supply the wheels and tires and void the 5 year 100,000 mile warranty. ( using theoretical numbers )

If all the elements have been developed in the presentation, the client understands that all the bits work as a whole. Yes the price may be less, but the overall effect or value is dropped 10 fold by the lessor option.

In the example above wheels and tires are not such a big deal but the warranty.. WHOA. Much the same with the first example.. the use of "It would not be as effective, but this is something that we can do." You are clearly lowering the price, dropping the hyped expectation and developing an increase in value for the package as a whole.

Yea I re read it.

F following that step there is still the objection 'Its too Expensive" as Claude might suggest, you can then negotiate to a lower price by removing elements of the package. "if $2000 is to much how does $1500 sound? We are offering SEO and content development for the $2000. for $1500 we could follow through with the SEO aspect alone. It would not be as effective, but this is something that we can do."

I still don't see how your not leaving money on the table. Your doing them a disservice by cutting them short on the benefits of the entire package. By negotiating like this you put the power in their hands and you come off as weak and desperate for the work.

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savidge4

7 years ago

Originally Posted by SalesGod

I still don't see how your not leaving money on the table. Your doing them a disservice by cutting them short on the benefits of the entire package. By negotiating like this you put the power in their hands and you come off as weak and desperate for the work.

Let me start with this... I don't ever "sell" for the lower price. In the way that I use this. I am clarifying #1 the desire for the service I am offering. and #2 if price really is an issue.

When you say something like I can do this - without that, but what it is I will be doing is far less effective - you are setting a standard. I can do this half assed and you will pay me less but it wont work, or you can pay the additional 25% and get the desired results.

For all intensive purposes you are not resetting the sales pitch to develop value, you are throwing a close right at them.

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helisell 7 years ago

Seems to me there are lots of answers here talking about rebuttals and only a few talking about qualification

The real answer (as some of the more informed folks have hinted...you know who you are)
is this is tackled 99% of the time during qualification.

The OP has said a few times to give practical (actual) words to use so here we go:

After your opening lines you go into...

Well Mr customer I really don't know at this stage if these leads will be of any use to you whatsoever. Just to help me, would it be ok if I fired you a couple of questions and we take it from there.......does sound like a plan?

If it's a NO at this stage...end the call

If it's a YES then you need to do something really special for them. You need to do a fairly in depth investigation of their current lead generation process including a cost per lead analysis.

So, mr customer, how are you getting your leads at the moment?
And how long have you been doing that?
Roughly how many leads are you getting a week/month or whatever.
What sort of conversion rate are you getting from those leads?
Have you ever worked out your total revenue return per lead before (help them to work it out now)
And in terms of cost per lead and profit per lead we're looking at what? (again help them to work it out...I promise they've never done this before nor met someone who knew as much as you do)

Continue this process until you can confidently say.....

Well based on what we've covered it looks like you're paying xyz per lead.....(or it looks like you're getting a return of xyz per lead)

I think you're going to be really pleased that I called. Based on that analysis we can......(now go into your pitch)

Trying to pitch before you've qualified is like trying to hit the baseball before it has even been pitched. Give all those clever rebuttals a miss and learn how to qualify.
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Kiwigal

7 years ago

Originally Posted by SalesGod

Yea I re read it.

F following that step there is still the objection 'Its too Expensive" as Claude might suggest, you can then negotiate to a lower price by removing elements of the package. "if $2000 is to much how does $1500 sound? We are offering SEO and content development for the $2000. for $1500 we could follow through with the SEO aspect alone. It would not be as effective, but this is something that we can do."

I still don't see how your not leaving money on the table. Your doing them a disservice by cutting them short on the benefits of the entire package. By negotiating like this you put the power in their hands and you come off as weak and desperate for the work.

Different industry I work in BUT I use this method all the time, find it very effective.
People often get the perception your flexible with price when in actual fact you have just sold them a cheaper package, they feel like winners because they think they have shrunk your price.
But now you have not only sold them a cheaper package but you have made them luke warm for your next call or email upsell.

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Claude Whitacre

7 years ago

Originally Posted by Kiwigal

Different industry I work in BUT I use this method all the time, find it very effective.
People often get the perception your flexible with price when in actual fact you have just sold them a cheaper package, they feel like winners because they think they have shrunk your price.
But now you have not only sold them a cheaper package but you have made them luke warm for your next call or email upsell.

We think customers want a lower price, when what they really want is a better deal.

I sometimes add a few things as a courtesy. It solves several problems;

They feel they got a better deal, so it's harder to ask for a lower price.
It's harder for them to shop around, after you have given them a concession (one they didn't ask for)
It's more complicated to ask for a refund.
It's now harder for them to compare to the competition.
To a customer, giving them $100 more in value, is about the same as a $100 discount...even if the extra value costs you almost nothing.

The "giving more" is far more powerful, if you give it without them asking for it.

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SupremeOverlord

7 years ago

Originally Posted by savidge4

I personally do not hear this very often... BUT.. "Its too Expensive" should most often be followed right up with a reset in the presentation. This may sound like "Ok, lets rewind for a moment" or "Lets take a step back shall we?" reset the presentation back onto you building value.

I am not saying that you go back to the point in your presentation where you are developing these points. If it didn't work the first time.. it probably will not work a second or third or fourth time around. You must speak a language that the listener can understand. At this point in the conversation you should have had the opportunity to get a better handle on the person on the other end of the phone. You should then be able to present your value in a language they can better understand.

IF following that step there is still the objection 'Its too Expensive" as Claude might suggest, you can then negotiate to a lower price by removing elements of the package. "if $2000 is to much how does $1500 sound? We are offering SEO and content development for the $2000. for $1500 we could follow through with the SEO aspect alone. It would not be as effective, but this is something that we can do."

Makes sense. Taking a step back to revisit the offer might help them understand the value. But, I don't want to, and I won't lower my price. I see SO MANY people jump to lowering their prices as a last ditch effort to close a sale. Honestly, I don't consider that selling... and that sh*ts WEAK.

I mean, why even put a price on your stuff if all you're gonna do is lower it every time someone says it's too high. Why not just ask them: "Well, sir, how much would you like to pay" Haha... seriously, THAT'S WEAK.

That's why I wanted to get some more input here before even attempting to lower myself to such levels. I appreciate the input!

If you have a specific rebuttal I can try, that be also great...

Thanks
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savidge4

7 years ago

As I stated above, I am NOT really lowering the price, I am controlling the conversation, without the obligatory "Other than price, what is stopping the deal?"

Using my example the potential client will pick up on the "would not be as effective" they are then going to focus on that bit, you can then go in and make a case and develop the value of that portion of the presentation.

Ultimately there are 3 types of people you will speak with.. those that are wasting your time and theirs and will listen to the spiel. There are those that may have an interest, but you have not spoken the language they wanted to hear. and then those that honestly can not afford your services. ( the last being a small percentage in general if there is any amount of pre-qualifying done early on in the process )

TO say that stepping back and revisiting the offer might help.. BUT I don't want to... the reality is your presentation ( and I don't mean this personally ) is weak if you are hearing "That's Expensive" you simply have undersold your service. in the eyes of the potential client it is not worth what you are asking.

Truth be told "its to Expensive" is NOT an objection.. its a flippant attempt to get off the phone. As a sales person, you have not made your case and or your sale. In my opinion THAT is weak. resetting the conversation is the first attempt at resurrecting the sale. It can be a tool to better understand what the true objection is. It is without question a tool to better communicate your offer based on language ques given by the prospect.

Originally Posted by SupremeOverlord

Makes sense. Taking a step back to revisit the offer might help them understand the value. But, I don't want to, and I won't lower my price. I see SO MANY people jump to lowering their prices as a last ditch effort to close a sale. Honestly, I don't consider that selling... and that sh*ts WEAK.

I mean, why even put a price on your stuff if all you're gonna do is lower it every time someone says it's too high. Why not just ask them: "Well, sir, how much would you like to pay" Haha... seriously, THAT'S WEAK.

That's why I wanted to get some more input here before even attempting to lower myself to such levels. I appreciate the input!

If you have a specific rebuttal I can try, that be also great...

Thanks
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SupremeOverlord

7 years ago

Originally Posted by savidge4

As I stated above, I am NOT really lowering the price, I am controlling the conversation, without the obligatory "Other than price, what is stopping the deal?"

Using my example the potential client will pick up on the "would not be as effective" they are then going to focus on that bit, you can then go in and make a case and develop the value of that portion of the presentation.

Ultimately there are 3 types of people you will speak with.. those that are wasting your time and theirs and will listen to the spiel. There are those that may have an interest, but you have not spoken the language they wanted to hear. and then those that honestly can not afford your services. ( the last being a small percentage in general if there is any amount of pre-qualifying done early on in the process )

TO say that stepping back and revisiting the offer might help.. BUT I don't want to... the reality is your presentation ( and I don't mean this personally ) is weak if you are hearing "That's Expensive" you simply have undersold your service. in the eyes of the potential client it is not worth what you are asking.

Truth be told "its to Expensive" is NOT an objection.. its a flippant attempt to get off the phone. As a sales person, you have not made your case and or your sale. In my opinion THAT is weak. resetting the conversation is the first attempt at resurrecting the sale. It can be a tool to better understand what the true objection is. It is without question a tool to better communicate your offer based on language ques given by the prospect.

OK, great. I will tighten my presentation and make it STRONG.

Now, what's your best rebuttal response to the objection "your price is too high" or "it's to expensive"?

Thanks
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savidge4 7 years ago

Originally Posted by SupremeOverlord

Now, what's your best rebuttal response to the objection "your price is too high" or "it's to expensive"?

There is not a silver bullet here. What I am explain IS what I do in that situation. Forcing a close on someone that is basically telling you, they have not been sold enough is foolish.

You simply have 2 options with "Your price is to high" or "It's to expensive" You can set your presentation so the comments are hardly ever heard, or you can step back and redevelop the value of the proposition. THOSE are the options.

Let me throw an analogy at you. I have a son. He likes cookies. there are times ( right before dinner ) that he will ask for a cookie. There are 2 people in the house he can ask for a cookie. there is Mom and then me Dad. When we say "no you may not have a cookie" his initial response is to wimper and wine, if that fails he will go into the full on crying thing.

With his mother this pattern works. "take the cookie and shut up" echos through the house ( LOL ) With me on the other hand, I am quick to say "If you are going to cry goto your room" the crying stops. but the bargaining begins. at as young as 4 yrs old he was resetting the value in giving him the cookie before dinner.

Now the young man is 6. He still does the wimper to a cry pattern with his mother ( it works every time ) but he has adapted his approach with Dad. Recently he tried "What do I have to do to get a cookie?" after I told him no. I responded "eat your dinner first"

Last night he threw me a bit of a curve... "Dad, if I eat my dinner I can have a cookie right?" I responded yes... he then suggests that if he can have the cookie now, he promises to eat all of his dinner. At 4 he started identifying the objection. At 6 he finally got the sale. ( little snot )

What I am trying to convey here is that be it a 6yr old or a potential client, the process of resetting and listening for answers to objections is all a part of the communication in the sales process. If you cut the process short... you simply will not land the sale.
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- SupremeOverlord 7 years ago
  
  Dude, I get it! You want to prove you are an expert, but you still haven't given me a straight answer to my original question though, and at this point I don't expect you to. So, just let it go, I don't need the lecture. This is probably how you sell too, just talk around in circles until the prospect dies of everlasting boredom. I'll take advice from the other people that have given me a straight answer without the lecture... then I will give it a try and see if it works for me or not.
  
  I'll leave you with this...
  
  "If you can't explain it simply, you don't understand it well enough."
  
  - Albert Einstein
  
  If anyone else has a straight answer or rebuttal to the "price is too high" objection, please leave them below. I'd love to try them
  
  Thanks
  
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  Claude Whitacre 7 years ago
  
  Originally Posted by SupremeOverlord
  
  "If you can't explain it simply, you don't understand it well enough."
  
  - Albert Einstein
  
  Einstein never said that. And it's a silly idea. Some answers are very complex, because there are many facets to the answer.
  
  For example, You ask us to answer a specific sales objection. The solution isn't to answer the objection. The solution is for that thought to never occur to the prospect. And how to do that, is a complex answer.
  
  Here is an analogy to what you want.
  
  You ask a girl out on a date Friday night. The girl says, "I have to shampoo my hair Friday night, but thanks."
  
  What you are asking for ( on this thread), is a way to make shampooing hair faster, or unnecessary. You think that will solve the problem. You think a witty answer to her "objection" will get her to change her mind. And some guys here, offer advice on how to shampoo hair faster, or how to convince her to shampoo her hair on Thursday.
  
  But, of course, the problem is, she doesn't want to go out with you. And that problem became insurmountable...way before she ever mentioned shampooing her hair.
  
  That's why answers to objections are archaic. The objection is a symptom that you are not selling effectively. The objection is not really a question, it's really their decision.
  
  Do I still get objections? One. "Man, I'll tell you what! We are definitely going to do this, as soon as we...(unrelated problem that is made up)".
  
  So they can only say "No", by saying "Yes". It's fun to watch on one level.
  
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SalesGod

7 years ago

Find out on average how many leads it takes them to close a sale. Then it's pretty much like there trading X amount (how ever much your leads are gonna cost) for x amount (how much a sales for them brings in.) would you trade me a $100 bill for $1000 dollars? What there doing is trading there money for more money. It's a no brainer. Put it in simple terms for them.

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SalesGod

7 years ago

Mr._______ are you in business to save money or make money? Do you wanna save $800 this month or make 10k? Great! I won't let you down.

That's of course after you confirm money is the only problem. Sometimes it's just a stall and they haven't told you their real objection yet or other objections they have along with that.

Other then the price being to high is there anything else preventing us from doing business today?

Thanks
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SupremeOverlord

7 years ago

Originally Posted by SalesGod

Mr._______ are you in business to save money or make money? Do you wanna save $800 this month or make 10k? Great! I won't let you down.

That's of course after you confirm money is the only problem. Sometimes it's just a stall and they haven't told you their real objection yet or other objections they have along with that.

Other then the price being to high is there anything else preventing us from doing business today?

Good strategy. I think this strategy will allow me to uncover the real issue first and also shut them down with pure logic if price really is the issue. I will try to come up with a language pattern for this rebuttal tonight. Coming up with specific language patterns can be a little tricky though.

Do you have any tips on specific language patterns to weave into this rebuttal response to the price objection?

Thanks

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yukon

Banned 7 years ago

Originally Posted by SupremeOverlord

Alright, so the other day I'm on the phone trying to sell my leads right, and I get his DARN objection again: "It's too expensive" or "It costs too much" ... UHHH! I can't seem to find the best answer to combat this objection.

I don't get it all the time, but most times I do, I never seems to come out of it smoothly...

So, to all my experienced sales geniuses, what's your BEST REBUTTAL to "it's too expensive" or "it costs too much"?

Either you're not realistic about your prices or you're not targeting realistic traffic. Trying to sell a swimming pool to a guy in an apartment isn't doable.

Move on to targeted traffic, ask them their budget first. If they don't have a budget, they're not interested. Next.

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SalesGod

7 years ago

Originally Posted by yukon

Either you're not realistic about your prices or you're not targeting realistic traffic. Trying to sell a swimming pool to a guy in an apartment isn't doable.

Move on to targeted traffic, ask them their budget first. If they don't have a budget, they're not interested. Next.

Almost any business can scrape together 2k or so for seo, leads, or whatever your selling. If money's their problem that means there hurting and need your more then they think. Almost anyone an scrape together 2k or so to purchase leads like the OP is selling. Start out small, make them money with your service and then increase and up sell.

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yukon

Banned 7 years ago

Originally Posted by SalesGod

Almost any business can scrape together 2k or so for seo, leads, or whatever your selling. If money's their problem that means there hurting and need your more then they think. Almost anyone an scrape together 2k or so to purchase leads like the OP is selling. Start out small, make them money with your service and then increase and up sell.

...or instead of trying to squeeze blood from a turnip, target people looking to buy.

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SupremeOverlord

7 years ago

Originally Posted by yukon

Either you're not realistic about your prices or you're not targeting realistic traffic. Trying to sell a swimming pool to a guy in an apartment isn't doable.

Move on to targeted traffic, ask them their budget first. If they don't have a budget, they're not interested. Next.

Yeah, qualifying people OUT is a big one for me now; but sometimes we tend to get into this scarcity mindset that there aren't enough people out there willing to pay our prices. We think everybody is looking for a discount and nobody has any money to spend, because of the economy or whatnot -- But it's all BS. People are spending money everyday and money is out there. Look, the feds are still printing money, and I need to grab my unfair share before the next batch rolls through.

By the way, I don't think my prices are unrealistic at all. In fact, I will be raising it soon. You know, cause of inflation and everything. Hehe! ;-)

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sconer 7 years ago

Originally Posted by yukon

Move on to targeted traffic, ask them their budget first. If they don't have a budget, they're not interested. Next.

There are millions upon millions of small businesses out there that would be excluded by your last statement. And someone is going to make money off of them.
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SalesGod

7 years ago

It's to expensive l.

- I agree and unfortunately good leads don't come cheap, would you mind telling me how much to much you feel it is? (Now you have the budget and know if your close or way off)

- if you knew it was gonna make you money would you do it? So it seems the problem isn't the price but more of you being unsure of your investment correct? Let's back up and hopefully I can clear that up for you. ( go back and re pitch, build value, focus on what your done for past clients and how all your past clients felt the same way before they went ahead)

- i agree it is expensive! You ready to roll? Visa or master?

Lol the last one only works on up selling current clients but there's 2 rebuttals I just thought up as I was writing this. You can come up with rebuttals all day long for this. What it comes down to is just selling value vs price. Don't ever lower your price. Price isn't up for negotiation AT ALL. What is up for negotiation is if there gonna buy into a marketing plan that's going to ruin there reputation and waste there money or if they want quality service.

Thanks
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SupremeOverlord

7 years ago

Originally Posted by SalesGod

It's to expensive l.

- I agree and unfortunately good leads don't come cheap, would you mind telling me how much to much you feel it is? (Now you have the budget and know if your close or way off)

- if you knew it was gonna make you money would you do it? So it seems the problem isn't the price but more of you being unsure of your investment correct? Let's back up and hopefully I can clear that up for you. ( go back and re pitch, build value, focus on what your done for past clients and how all your past clients felt the same way before they went ahead)

- i agree it is expensive! You ready to roll? Visa or master?

Lol the last one only works on up selling current clients but there's 2 rebuttals I just thought up as I was writing this. You can come up with rebuttals all day long for this. What it comes down to is just selling value vs price. Don't ever lower your price. Price isn't up for negotiation AT ALL. What is up for negotiation is if there gonna buy into a marketing plan that's going to ruin there reputation and waste there money or if they want quality service.

Awesome. I think I could probably work with these and come up with something nice. But I get the idea now... sell value over price.

And by the way, whoever says "I never get this objection" is either shooting for tossed up lay downs or NOT actively selling in the field, or is trying to pump up their ego.

Honestly, I made this thread for not only myself, but for others to get SPECIFIC rebuttals and ideas on how to handle the price objection (because you know you're going to eventually get it). Most of the time you'll see a thread with a bunch of different unrelated topics thrown together, but now someone searching for how to handle the "price is too high" objection will now have a much clearer idea on what to do.

KEEP IT GOING GUYS! Come on, tell us some of your funny responses too...

Thanks

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animal44

7 years ago

Originally Posted by SupremeOverlord

Alright, so the other day I'm on the phone trying to sell my leads right, and I get his DARN objection again: "It's too expensive" or "It costs too much" ... UHHH! I can't seem to find the best answer to combat this objection.

I don't get it all the time, but most times I do, I never seems to come out of it smoothly...

You'll never get this objection if you get the prospect to put his own value on the leads...

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Claude Whitacre

7 years ago

Originally Posted by savidge4

There is not a silver bullet here. What I am explain IS what I do in that situation. Forcing a close on someone that is basically telling you, they have not been sold enough is foolish.

You simply have 2 options with "Your price is to high" or "It's to expensive" You can set your presentation so the comments are hardly ever heard, or you can step back and redevelop the value of the proposition. THOSE are the options.
.

Originally Posted by animal44

You'll never get this objection if you get the prospect to put his own value on the leads...

Good stuff.

The answer to the OP's question would take a book to answer. Because the problem is, he's getting the objection in the first place. And when you are answering an objection, you are arguing.

It's not about building value. (although that's a part of it)

It isn't a matter of value, but a matter of expectations.

During the qualifying stage, if you can get the prospect to give you a value, and what they would be willing to pay...if it's more than what you charge, you win.

How do you do that? By getting the prospect to tell you what a sale is worth, what a presentation is worth, and what a lead is worth to them. Then you might say, "If you're telling me that every lead generates $100 in immediate profit, how much would you pay to get that $100? " If they say, "I'd be willing to pay $10", I'd ask the question in a different way, until they tell me "I'd pay just about anything less than $100".

Reframe what you are selling. You aren't selling leads, you are selling $100 bills.

"If you could invest $25 and convert it into $100 in a few days, how many times a week would you want to do that?"

When you get an objection at the end, it's a way for God to tell you that you are missing a huge step in your selling process. Any objection at the end is a way for the prospect to say, "I'm not interested in this". That's the answer.

And any answer you give, is an attempt to change their minds. Eventually, you may be able to wear them down, but it wears you down as well.

Stop selling leads. Start selling Uncashed Checks. It's all in how you frame the offer.

And building value, although it seems like that's the answer, is only part of the solution.
Getting the prospect to tell you that they would be willing to pay far more than the paltry sum you are asking....before the price is ever talked about, is the answer.

If you are selling leads as a commodity, they will be priced as a commodity in the prospect's mind. And anything you charge, even a dollar, will be met with.."That's too much money" or "I can't afford it".

Years ago, I was trying to help a friend that was selling high end vacuum cleaners in people's homes. He continually got, "I can't afford it", That's too much money". We were selling the vacuum for about $1,600.

He was still in the "What's the best answer to this objection?" crowd.

He built plenty of value. The people liked him. But to them, they still thought a vacuum cleaner should cost $50. I could tell.

I wanted to make a dramatic point, that would teach my friend something. During one of his presentations, I interrupted him and said to the prospects, "We have a payment plan of only a dollar a month. Or you can buy the vacuum for $50 in cash"

And right on schedule, they said, "Well, a dollar a month sounds like it isn't much, but we would have to think about it. Right now, I don't think we can afford it".

It was because their conditioned response to any price was "We can't afford it". And the OP's prospect's conditioned response to his presentation is, "That's too expensive".

The prospect needs to tell the salesperson the amount they are willing to pay (slightly different from telling the value).

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gjabiz

7 years ago

and you can get to that point using these leads. More business means more profit and never having to say 'it is too expensive'."

I am always surprised and dismayed when a business can't afford something,

I tell them, "Thank god I called, I've got exactly what you need."

gjabiz

Originally Posted by SupremeOverlord

Alright, so the other day I'm on the phone trying to sell my leads right, and I get his DARN objection again: "It's too expensive" or "It costs too much" ... UHHH! I can't seem to find the best answer to combat this objection.

I don't get it all the time, but most times I do, I never seems to come out of it smoothly...

So, to all my experienced sales geniuses, what's your BEST REBUTTAL to "it's too expensive" or "it costs too much"?

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dave147

7 years ago

It's too expensive?

That's easy...you just get them to tell you the average sale per client or customer, multiply it by x and use the "let's imagine" scenario.

No matter how much value you build or how much of a no-brainer it is, you'll still have some people who will try to get a lower price by stating...it's too expensive.

>>>>>>>

**********************************************

"it's too expensive!!!"

Answer...

Too expensive?

Let's find out if it is:

What's your average sale per client?

[$800]

So let's imagine I bring you 10 new clients...that's $8000 in sales for you.

So how can $900 be too expensive!?

Let's imagine I only bring you 5 clients...that's still $4000 in sales.

Let's imagine you only get 2 clients...that's still $1600 in sales...but more importantly...you get 2 new clients!!!

Do you still think it's too expensive

***********************************************

Now you better be able to bring them at least 5 new clients or you won't be getting any repeat business from them

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tryinhere

7 years ago

Originally Posted by dave147

So how can $900 be too expensive!?

Just looking the lead cost and sale price does not give a clear answer / not that simple, you would need to take into account any other costs / costs of goods etc.

back in the day when doing adwords for clients, comments like "Pay $10 for a click" ( as example ) / that's to dear were often put into perspective by answering, if we made double, triple or more on our money for every $10 we spent, how many $10 bills would you want to spend, it often changed the view point, where it was no longer expensive but a sound investment in future growth.

I wrote this excel guide that allows you to calculate a leads worth to business (it seems like moons ago now) that should be able to be adopted to what your doing in lead gen as well as adwords ?.

http://www.warriorforum.com/warrior-...HoxbriHkz3m0EU

But I will leave you with this thought, If you are truly good enough to make double triple or more on your lead gen for other business ( regardless of how you do that ) , then learn to develop and peddle your own products and services, It simply makes no sense ( to me ) to make other people rich while you live on peanuts / the crumbs, think about using your skills to make you comfortable / rich.

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dave147

7 years ago

Originally Posted by tryinhere

Just looking the lead cost and sale price does not give a clear answer / not that simple, you would need to take into account any other costs / costs of goods etc.

back in the day when doing adwords for clients, comments like "Pay $10 for a click" ( as example ) / that's to dear were often put into perspective by answering, if we made double, triple or more on our money for every $10 we spent, how many $10 bills would you want to spend, it often changed the view point, where it was no longer expensive but a sound investment in future growth.

I wrote this excel guide that allows you to calculate a leads worth to business (it seems like moons ago now) that should be able to be adopted to what your doing in lead gen as well as adwords ?.

http://www.warriorforum.com/warrior-...HoxbriHkz3m0EU

But I will leave you with this thought, If you are truly good enough to make double triple or more on your lead gen for other business ( regardless of how you do that ) , then learn to develop and peddle your own products and services, It simply makes no sense ( to me ) to make other people rich while you live on peanuts / the crumbs, think about using your skills to make you comfortable / rich.

of course, but them saying it's too expensive is a flippant statement in most cases and it requires a flippant answer with an imagined result to show an example of cost versus potential gain. All other details are up to them to realise, you are just trying to make them see that it's "not too expensive" when compared to an imagined scenario.
The $900 is just a sample figure

When there's hesitation based on cost I always break it down like this and it works MOST of the time, if it does not work then there are other "reasons" and they are using the "it's too expensive" as an excuse not to move forward.

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Peter Lessard

7 years ago

Of course I have different approaches for different mediums but we are talking hard core phone sales. My answer will seem to contradict how I sell MY services, but my services are long term high involvement and frankly engage at a different level than if I was just ringing up a list selling a widget. I am also at a point where I can choose to sell in a way that is more comfortable. Having said that if I found myself homeless tomorrow and you sat me at a phone with a script, some stupid offer and some un-targeted list a bloodbath would ensue that would see me getting sales and prospects wondering what they bought AFTER they bought :-)

If it's a one call close from a list then ANY rebuttal is deflected and you go right back into your script loop.
Deviating from script is bad, and so since scripts are fixed it would be bad to address things that the script does not cover. By bad I mean crap conversions.

-----------------------------------

Steve "I can't talk now my business is on fire"

me " I hear what your saying but let me say this. The true beauty of my offer is you don't need to be alive for it to work and if you end up being the first customer ever that I couldn't deliver for those in your will can just ask for a refund and you can rest easy knowing you provided for them. Does this seem fair?"

Steve "oh my god the roof fell in I am burning, I can't do this now"

me " I hear what your saying Steve. Just give me a shot to prove myself and I promise the only regret you will ever have is that we did not close this faster so we could get 911 there."

-------------------------------------

OK so I am being a bit of a smart ass but you get the picture.
In the end hard core phone closes are a script, staying on script, deflecting objections and then getting back on script. I have gone through 3 or 4 loops at times, saying nothing really new, not addressing any objection other than saying I will get to that, and eventually the ace in the hole is a personal appeal "Trust me" "Give me a shot" "You won't regret it". Ask, ask ask and get the sale. People buy based on your conviction and perseverance when it is sales on the phone.

Objections don't matter. Money doesn't matter. They claim they have no money, next week if they were addicted to crack they would find the money, if they are addicted to strippers and alcohol they can always find the money, they want new rims on their truck they find the money. We are talking about behavior and controlling their behavior, logic is not relevant, humans are NOT logical they do the strangest crap every day and are easily swayed by persistence.

WAIT WAIT - Am I saying its right, ethical, the way I do business? No I am not getting all philosophical, I am JUST saying what works at closing maximum sales on the phone if your dialing for simple offers.

Doing this is hard, most people feel bad or want to believe the objections, it's uncomfortable so they accept the objection, then another "better" salesman takes the money that you believed they did not have. I put better in quotes because it's subjective, some will think how horrible, sleezy etc.. but again the question was how best to deal with objections, and the answer is deflect and back on script closes the most sales, period.

Will this always get you the sale? No sometimes your just screwed and though you could spend time figuring out why your screwed, it is better to just move on to the next call.

Also what others are saying about targeting and doing things to avoid these issues coming up is spot on BUT in reality there are many businesses that do not invest the time and energy in doing this and still make tons of money. You get a list, an offer, have NO clue who is on the other end and you pitch. Of course many of us in this forum are NOT in that business, our interaction does not stop after a hardcore close, we are in it for the long haul as consultants so rapport and trust are important so you get much more "thoughtful" answers. In other words when asking us "consultants" your gonna get more complicated answers than pound them into submission and make them feel like you answered their questions when all you did was completely control the outcome ;-)

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SupremeOverlord

7 years ago

Originally Posted by Peter Lessard

Of course I have different approaches for different mediums but we are talking hard core phone sales. My answer will seem to contradict how I sell MY services, but my services are long term high involvement and frankly engage at a different level than if I was just ringing up a list selling a widget. I am also at a point where I can choose to sell in a way that is more comfortable. Having said that if I found myself homeless tomorrow and you sat me at a phone with a script, some stupid offer and some un-targeted list a bloodbath would ensue that would see me getting sales and prospects wondering what they bought AFTER they bought :-)

If it's a one call close from a list then ANY rebuttal is deflected and you go right back into your script loop.
Deviating from script is bad, and so since scripts are fixed it would be bad to address things that the script does not cover. By bad I mean crap conversions.

-----------------------------------

Steve "I can't talk now my business is on fire"

me " I hear what your saying but let me say this. The true beauty of my offer is you don't need to be alive for it to work and if you end up being the first customer ever that I couldn't deliver for those in your will can just ask for a refund and you can rest easy knowing you provided for them. Does this seem fair?"

Steve "oh my god the roof fell in I am burning, I can't do this now"

me " I hear what your saying Steve. Just give me a shot to prove myself and I promise the only regret you will ever have is that we did not close this faster so we could get 911 there."

-------------------------------------

OK so I am being a bit of a smart ass but you get the picture.
In the end hard core phone closes are a script, staying on script, deflecting objections and then getting back on script. I have gone through 3 or 4 loops at times, saying nothing really new, not addressing any objection other than saying I will get to that, and eventually the ace in the hole is a personal appeal "Trust me" "Give me a shot" "You won't regret it". Ask, ask ask and get the sale. People buy based on your conviction and perseverance when it is sales on the phone.

Objections don't matter. Money doesn't matter. They claim they have no money, next week if they were addicted to crack they would find the money, if they are addicted to strippers and alcohol they can always find the money, they want new rims on their truck they find the money. We are talking about behavior and controlling their behavior, logic is not relevant, humans are NOT logical they do the strangest crap every day and are easily swayed by persistence.

WAIT WAIT - Am I saying its right, ethical, the way I do business? No I am not getting all philosophical, I am JUST saying what works at closing maximum sales on the phone if your dialing for simple offers.

Doing this is hard, most people feel bad or want to believe the objections, it's uncomfortable so they accept the objection, then another "better" salesman takes the money that you believed they did not have. I put better in quotes because it's subjective, some will think how horrible, sleezy etc.. but again the question was how best to deal with objections, and the answer is deflect and back on script closes the most sales, period.

Will this always get you the sale? No sometimes your just screwed and though you could spend time figuring out why your screwed, it is better to just move on to the next call.

Also what others are saying about targeting and doing things to avoid these issues coming up is spot on BUT in reality there are many businesses that do not invest the time and energy in doing this and still make tons of money. You get a list, an offer, have NO clue who is on the other end and you pitch. Of course many of us in this forum are NOT in that business, our interaction does not stop after a hardcore close, we are in it for the long haul as consultants so rapport and trust are important so you get much more "thoughtful" answers. In other words when asking us "consultants" your gonna get more complicated answers than pound them into submission and make them feel like you answered their questions when all you did was completely control the outcome ;-)

Awesome. I see, it looks like someone is well acquainted with the stockbroker/straightline pitch... "The true beauty of the program is..." Haha.

I agree, "consultants" tend to have a different way of approaching the sales process. I tried it the whole 'consultative sales" thing for a while and it was HORRIBLE. "I mean, get to the point already!" -- one prospect once screamed at me. That was the day I made a decision something had to change!

Seriously, there is no value being exchanged when talking about a guy's guilty pleasures, or hobbies, or trying to impress him with how knowledgeable you are about his industry (which he quite honestly doesn't give a shit about). VALUE is only exchanged when they BUY my product and I start delivering results. We can talk about your hobbies later, maybe. Hehe!

You brought up a very interesting point about deflecting and closing... I guess what I'm looking for is How to deflect the "price objection" and get back on the damn script, because I already have all that value prop in my script but sometimes they just wanna test me, haha!

So, does anyone know: How do I deflect the "price objection" and smoothly transition back to the script?

Thanks
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bizgrower

7 years ago

Originally Posted by SupremeOverlord

Awesome. I see, it looks like someone is well acquainted with the stockbroker/straightline pitch... "The true beauty of the program is..." Haha.

I agree, "consultants" tend to have a different way of approaching the sales process. I tried it the whole 'consultative sales" thing for a while and it was HORRIBLE. "I mean, get to the point already!" -- one prospect once screamed at me. That was the day I made a decision something had to change!

Seriously, there is no value being exchanged when talking about a guy's guilty pleasures, or hobbies, or trying to impress him with how knowledgeable you are about his industry (which he quite honestly doesn't give a shit about). VALUE is only exchanged when they BUY my product and I start delivering results. We can talk about your hobbies later, maybe. Hehe!

You brought up a very interesting point about deflecting and closing... I guess what I'm looking for is How to deflect the "price objection" and get back on the damn script, because I already have all that value prop in my script but sometimes they just wanna test me, haha!

So, does anyone know: How do I deflect the "price objection" and smoothly transition back to the script?

I'm all for friendly relationships with clients, but I think it naturally develops as you work with them.
And hopefully get more business from them. "Did you know we can also do this....? Or, I was thinking
about this for you ..."

"Which part is too expensive and what are your thoughts about that?"
"What thing or things makes you say it's too expensive?"

Why not ask in a polite, matter of fact, conversational way if that is their way of politely telling you no, or if it is a real objection? Can't afford right now because 4th quarter taxes are due, or an expensive machine just died...

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Claude Whitacre

7 years ago

Originally Posted by SupremeOverlord

I agree, "consultants" tend to have a different way of approaching the sales process. I tried it the whole 'consultative sales" thing for a while and it was HORRIBLE. "I mean, get to the point already!" -- one prospect once screamed at me. That was the day I made a decision something had to change!

For some reason, a few posters here have been knocking "consultive selling". They think it is something different from what I think it is. My take is that it is asking questions, and offering advice, from the perspective of a trained...concerned..professional.

Originally Posted by SupremeOverlord

Seriously, there is no value being exchanged when talking about a guy's guilty pleasures, or hobbies, or trying to impress him with how knowledgeable you are about his industry (which he quite honestly doesn't give a shit about). VALUE is only exchanged when they BUY my product and I start delivering results. We can talk about your hobbies later, maybe. Hehe!

The part you bolded? I agree completely. To me, consultive selling isn't wasting time, talking about nonsense. It is getting to the point, being clear in your meaning, and talking like one CEO to another.

Originally Posted by SupremeOverlord

you brought up a very interesting point about deflecting and closing... I guess what I'm looking for is How to deflect the "price objection" and get back on the damn script, because I already have all that value prop in my script but sometimes they just wanna test me, haha!

Pricing should be discussed way earlier in the presentation. If I'm going to get it as an objection, it's better to get it up front. Now you have an entire conversation for them to get used to the price, and for the value (to them) to catch up to the price.

but I see that conversation is not what you are after. You want a fast pitch (I really get that), and short answers to objections, so you can wear them down. Well, I see you aren't a newbie, so I'll give you what you want.

Originally Posted by SupremeOverlord

So, does anyone know: How do I deflect the "price objection" and smoothly transition back to the script?

"It's too expensive"

"Price should be a concern. You buy leads. You make sales. You sell something (know what it is) that is a bargain to the customer, and is obviously in their best interest, am I right?" ("Yeah")

"Well, when someone you know will benefit from your offer tells you, "It's too expensive", ...what do you say to them?"

and "It's too much money"

"You may be right. Let's find out. How much money can a customer generate for you? (of course, wait for the answers) and how many leads do you need to make that sale? And so how much do you earn from each lead? ........so, doesn't it make perfect business sense to profit from as many leads as you can get your hands on?"

and "Right now business is terrible"

"That's why I called you now, instead of later. We need to get fresh capitol in your business, and the best way to make new sales, is to profit from new leads. Isn't that right?'

Those are off the top of my head. The actual rebuttal doesn't matter much. You are wearing them down. Once you understand that the answer you give is almost irrelevant, you'll see far more sales being made.

How do I know this? Because for maybe 25 of 35 years in selling in one call, that's what worked for me. Their mind doesn't change, your persistence just wears them out, and they end up accepting what you say as true.

The example I used above, about the girl telling you she shampooed her hair on Friday?
You can't change her mind...but you can wear out her desire to fight you.

A truth about humans, when giving objections, is that they feel compelled to give you a reason they aren't buying. They almost never say, "No. I don't want this". They concoct a plausible reason that makes buying impossible for them. It is a way to avoid the responsibility of the "No".

The reason you can wear them down, is that eventually, they tire of trying to think of ....one more argument....to get them off the hook.

And once they agree to buy (by virtually giving up), they rationalize why they really wanted to buy. It's a way of keeping their self esteem. They own their decision.

So...just memorize any 6 or 8 answers to the objection, get them from any sales book, and say them as though they make perfect sense to you, and it will work. The answers themselves are almost irrelevant.

That's the answer.

Added after I saw Peter posted; Lessard gave you a few really good transitions.In fact, if you just reword them a little, there are your 6 or 8 answers.

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bizgrower

7 years ago

I sell hotel rooms. I got better customers with better income after I raised prices.
I suspect the same will happen for your business as long as your service/ROI is good.

When one of my prospects walks in, or calls in, and the first words are how much,
I go straight to price. I have a desk clerk who goes into all our amenities before giving price.

I think directly answering their question about price is more effective. For my hotel anyway.
I trust my gut and my first offer is usually my lowest offer, unless I guesstimate they are
going to say they also have AARP or whatever discount. (I hate it when I guess wrong and
give a low price and then they mention their discount eligibility.)

My goal is to have customers who all the other customers will feel comfortable with. I try to
keep a clean, safe, family oriented place. A place a single lady or single Mom will feel
like staying at and returning to. If a walk in/call in seems to fit the bill and is walking away,
I do ask how much they want to pay (if it's slow enough) and THEN negotiate with them
some, or let them go on their way.

Anyhow, I think it is best to get a solid lead flow and qualify for sophisticated, realistic
business owners with a realistic budget.

In your marketing collateral/ website/presentation... get all the best explanations of your who is,
how you do it, ROI, who you work with, and why they should choose you... out there.
Really work on the best, most effective language to use for you and your experience with
past/present customers. (It's learning and developing nuances that really help IMO)

Get your pricing and payment plans out there ahead of time and more or less stick to them.

Prevent the "too expensive's" from happening as much as you can. And don't worry about NOT
getting their business - except for rare occasions maybe.

You probably don't want them as clients anyway. You really want do stuff like explain why
adding SEO is additional work above and beyond the original agreement for web and
social media? (I actually had a client like that back in the day. I fired him. I also found
out he was suing the big name marketer he had hired before me.)

Comebacks are really just going to sound argumentative and people have given you
some, and some effective methods.

I suppose you could sound incredulous that they don't want to increase revenues by
10%.

Now is a good time to point out that some cultures are a culture of negotiation, and
some people just like to negotiate. So, perhaps in those instances you quote higher
and give yourself room to come down to what you want to work for. But, be aware, they
are likely to be difficult clients at every step. (You should keep revising my logo until I'm
satisfied, or multiple other changes....)

Dan

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Peter Lessard

7 years ago

Steve: "that's too expensive"

Me: "Steve you might be right but thats exactly what my happiest clients said before they got on board. I want to make sure you profit from this so tell me this..."

back to script with qualifying questions.

Me: "Steve Based on what you just told me what we do here seems like a perfect fit for you to be profitable on this
and here's basically how it works..."

back to pitch and close

and round and round she goes...

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bizgrower

7 years ago

I thanked the above post by Claude especially because of the clarification about consultative selling.

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Michael Nguyen

7 years ago

I'm surprised no one has suggested the isolation technique?

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Peter Lessard

7 years ago

Lol reading this thread is too funny.

It's the typical argument I have seen my whole life between "consultants" and "closers".
I have done both.
I have advised on both.
I laugh equally at myself in each role so all you "consultants" and "closers" don't lynch me for pointing out some reality and using some stereotypes and absolutes to illustrate some points.

You are both right and yet if too far to the left or right results will be weak.

To closers that do the quick volume phone rings/closes listening to the long winded "you need to qualify" and provide these long logical eloquent scripts in your responses, they shake their head and know for sure you would not last a single day in their sales rooms without being shown the door with that method.

To consultants you closers looking for that perfect rebuttal you are to them the neandrethals of sales, in their eyes you just don't get the "depth" of sales lol

The truth is both of the traits and tactics of a closer and consultant are needed in a blend.
How much of each is needed is based on what is being sold and how and most importantly timing.

Now there are some "consultants" on here that have done volume/hard hitting grind it out sales day after day but to be honest most have not and are just preaching what they heard or stuff that would get weak results in the real world.

Also while we love to slam the neanderthal "closer" for not being smart we are being rather presumptuous that they are always failing to qualify or being handed un-qualified leads or that they just don't get it.

I have been involved in 50 to 250k buys in software/tech etc... and all types of smaller sales
and the companies that failed more often had guys leaning too far to the "consultants" game, guys that were smart, educated, qualified etc.. When the rubber hit the road and they were sitting with the one guy that could make the decision over a scotch, they failed even after months of qualifying and teams from each company had hammered everything out. When the HUMAN who could make the final decision to buy uttered what seemed impossible to the educated consultant it all went to hell. He would say something like "sounds expensive" and the consultant would not know what to do with what rightly was a stupid comment but guess what humans are stupid at any given time and that is when you bring in your closer to leave them in a bloodied puddle and walk away with a check.

I often knew if a deal was going to close based on who they were sending in to be the voice of what should be a closed deal thanks to all the time that had been spent "qualifying". Saw deals fall apart when the company I was working for or was pitching us thought the meeting was merely a signing ceremony. The ceo/owner walks in and bam says one stupid/human thing and the deal was dead. If you didn't send the guy that could talk you out of your car keys and your wallet you were screwed. Lots of teams have that guy sitting quietly in the room just waiting for the stupid/human comment so he can save the day.

You can see this to be true everywhere.
How elections are won, how people are acquitted.
Long complex logical debates and analysis always come down to a human emotional interaction.
Insane stuff like "if the glove don't fit you must acquit"

P.S this thread reminds me of a funny story. My friend had a neighbor who was brilliant, a highly sought inventor and engineer in Telecom. They shared a back yard. One day she yelled out her child was choking. He ran for the St. John's Ambulance book lol He was right and the method in the book would of been sound but had he done this often enough he would of smacked the kid on the back as she did.

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dave147

7 years ago

Originally Posted by Peter Lessard

Lol reading this thread is too funny.

It's the typical argument I have seen my whole life between "consultants" and "closers".
I have done both.
I have advised on both.
I laugh equally at myself in each role so all you "consultants" and "closers" don't lynch me for pointing out some reality and using some stereotypes and absolutes to illustrate some points.

You are both right and yet if too far to the left or right results will be weak.

To closers that do the quick volume phone rings/closes listening to the long winded "you need to qualify" and provide these long logical eloquent scripts in your responses, they shake their head and know for sure you would not last a single day in their sales rooms without being shown the door with that method.

To consultants you closers looking for that perfect rebuttal you are to them the neandrethals of sales, in their eyes you just don't get the "depth" of sales lol

The truth is both of the traits and tactics of a closer and consultant are needed in a blend.
How much of each is needed is based on what is being sold and how and most importantly timing.

Now there are some "consultants" on here that have done volume/hard hitting grind it out sales day after day but to be honest most have not and are just preaching what they heard or stuff that would get weak results in the real world.

Also while we love to slam the neanderthal "closer" for not being smart we are being rather presumptuous that they are always failing to qualify or being handed un-qualified leads or that they just don't get it.

I have been involved in 50 to 250k buys in software/tech etc... and all types of smaller sales
and the companies that failed more often had guys leaning too far to the "consultants" game, guys that were smart, educated, qualified etc.. When the rubber hit the road and they were sitting with the one guy that could make the decision over a scotch, they failed even after months of qualifying and teams from each company had hammered everything out. When the HUMAN who could make the final decision to buy uttered what seemed impossible to the educated consultant it all went to hell. He would say something like "sounds expensive" and the consultant would not know what to do with what rightly was a stupid comment but guess what humans are stupid at any given time and that is when you bring in your closer to leave them in a bloodied puddle and walk away with a check.

I often knew if a deal was going to close based on who they were sending in to be the voice of what should be a closed deal thanks to all the time that had been spent "qualifying". Saw deals fall apart when the company I was working for or was pitching us thought the meeting was merely a signing ceremony. The ceo/owner walks in and bam says one stupid/human thing and the deal was dead. If you didn't send the guy that could talk you out of your car keys and your wallet you were screwed. Lots of teams have that guy sitting quietly in the room just waiting for the stupid/human comment so he can save the day.

You can see this to be true everywhere.
How elections are won, how people are acquitted.
Long complex logical debates and analysis always come down to a human emotional interaction.
Insane stuff like "if the glove don't fit you must acquit"

P.S this thread reminds me of a funny story. My friend had a neighbor who was brilliant, a highly sought inventor and engineer in Telecom. They shared a back yard. One day she yelled out her child was choking. He ran for the St. John's Ambulance book lol He was right and the method in the book would of been sound but had he done this often enough he would of smacked the kid on the back as she did.

so what's your best response to the stupid/human comment: "It's too expensive"

you know you're going to hear it some times no matter how well you have "qualified"

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Peter Lessard

7 years ago

Originally Posted by dave147

so what's your best response to the stupid/human comment: "It's too expensive"

you know you're going to hear it some times no matter how well you have "qualified"

answered in posts #30 and #33

though funny human nature, just use the word because and insert anything thereafter lol

"It's not too expensive because your competitors are spending twice as much and killing you." back to the close...

my most smart ass close that actually worked
"Its not too expensive because my daughter needs a new car. (insert pause for maximum haha factor). Good news is you'll get so much new business you won't care you paid for it."

Really if they are qualified, your product makes sense and they have money, objections are just knee jerk reactions and you just don't take them too seriously, deflect and close.

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dave147

7 years ago

Originally Posted by Peter Lessard

answered in posts #30 and #33

oh yes I see em, good one...

Originally Posted by Peter Lessard

Steve: "that's too expensive"

Me: "Steve you might be right but thats exactly what my happiest clients said before they got on board. I want to make sure you profit from this so tell me this..."

back to script with qualifying questions.

Me: "Steve Based on what you just told me what we do here seems like a perfect fit for you to be profitable on this
and here's basically how it works..."

back to pitch and close

and round and round she goes...

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helisell

7 years ago

Originally Posted by Peter Lessard

....

Really if they are qualified, your product makes sense and they have money, objections are just knee jerk reactions and you just don't take them too seriously, deflect and close.

I totally agree ;0)

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misterme

7 years ago

My take on this thread:

The OP asks, "how would Belfort rebut this objection and get back to the script?" and I'm surprised that as an "avid student of the Straight Line System," he doesn't know. Wouldn't it be, "But [using tonality as if having said, 'money aside'] this makes sense to you, doesn't it?" then followed with "the true beauty of this is..." which Lessard pointed out.

But don't overlook several other facts pertinent to Belfort's pitch.

First, they involved asking for small amounts, to build confidence.
Secondly, the whole pitch played on the target's greed.

I recall Belfort saying most of the guys who worked for him weren't very bright. So he had a script for them to follow which essentially was to do loops to hammer away at calls, pounding the target until the target gave up or hung up.

So the OP tries "consultative selling, only to get yelled at, 'get to the point already!'" and duly says to himself, "consultative selling doesn't work for me" instead of the probably more accurate, "somehow I did it wrong."

Lessard, in his wonderful contributions, then points out that a big problem with consultative sellers is, basically, they don't ask for the order.

Though that's about the people and not the method, isn't it?

Like Lessard, Whitacre is brilliant too. He just showed you how to sell the target before the target knows he's being sold, so that when the next logical step is to get the order "when do you want to start?" the prospect's already persuaded himself to do so.

Because when you try to sell the prospect after the prospect's looking to push you off, now you need to wrangle with him. And wrangling pits you in adversarial positions instead of alignment, which is why it's tougher and why you need a hammer.

And the target's looking to push you away because the sales person created pressure. And pressure creates that resistance.

Everything you told them up to that point... didn't do the trick, right? So that's a waste of time and effort right there.

But the OP doesn't wanna hear "build value first" because as he says, value is built when the service thrills the client delivering results. So true.

But here I think the OP is getting hung up on semantics and not seeing how the principle may be applied.

I think "building value" in the call really means to build interest and desire. When the embers of interest and desire are flamed, the price of entry isn't as important.

Which is why Belfort's pitch involves citing the kinds of returns they got for others, feeding into their dreams about what having that money would mean to them, to build greed to fuel desire.

Just so you know, it happened to me yesterday. Near the end the prospect says, "I didn't come in here expecting to buy anything, I was gonna take the freebie. But this makes so much sense..." meaning everything I had just told her about the item I was pitching, by using the right words, asking questions and putting thoughts in her head.

And she placed a $2,515 order.

So instead of looking for the elusive magic phrase to use to hammer the target, the answer involves a bit more work. But once you have it, it's like judo. You'll use it to leverage the target instead of fighting the target.

So, what can you say that persuades them to want your stuff before you ask for the money?

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Claude Whitacre

7 years ago

Originally Posted by misterme

My take on this thread:

The OP asks, "how would Belfort rebut this objection and get back to the script?" and I'm surprised that as an "avid student of the Straight Line System," he doesn't know. Wouldn't it be, "But [using tonality as if having said, 'money aside'] this makes sense to you, doesn't it?" then followed with "the true beauty of this is..." which Lessard pointed out.

But don't overlook several other facts pertinent to Belfort's pitch.

First, they involved asking for small amounts, to build confidence.
Secondly, the whole pitch played on the target's greed.

In a similar way, when I used to sell life insurance, I was taught to talk about family, commitment, loved ones, and the security of a guaranteed income stream.

Well, that is completely unnatural to me, so I just talked about money. Money in...money out. Of course, finding books by Ben Feldman helped, because that was his approach as well.

I also found out that I could talk about far larger amounts of money, if that was the approach. But I found this simplified how the prospect thought.

Sometimes, selling is comparing apples and oranges. It's easier to compare, if you can turn the orange into an apple.

I mention this, because I can see how selling leads can be looked at the same way.

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SupremeOverlord

7 years ago

Originally Posted by misterme

My take on this thread:

The OP asks, "how would Belfort rebut this objection and get back to the script?" and I'm surprised that as an "avid student of the Straight Line System," he doesn't know. Wouldn't it be, "But [using tonality as if having said, 'money aside'] this makes sense to you, doesn't it?" then followed with "the true beauty of this is..." which Lessard pointed out.

So the OP tries "consultative selling, only to get yelled at, 'get to the point already!'" and duly says to himself, "consultative selling doesn't work for me" instead of the probably more accurate, "somehow I did it wrong."

So, what can you say that persuades them to want your stuff before you ask for the money?

You claim to know Belfort's stuff but if you knew what you were talking about you would know that the part where you say >>> "I hear what you're saying, but let me ask you: Does the idea make sense to you? Do you like the idea?" <<< is actually after the first rebuttal. Which is usually something like "I want to think about it" or whatever. I already have this in my script.

Jordan even says this in his course that after the second rebuttal all you need to do is Objection > Rebutt >> CLOSE. You don't even need to go into a loop anymore, because at this time you should have already established you are sharp as a tack, enthusiastic as hell, and a force to be reckoned with. Which brings me here:

When they give me the it's too expensive objection (usually after the first or second objection), I don't need to ask them again if the idea makes sense. THEY ALREADY AGREED IT MAKES SENSE. Why are they still on the phone with me? DUH?

I know this will sound crazy, but I'll say it anyways: CONSULTATIVE SELLING DOES WORK. In fact, it works almost as well as simply going around and asking everyone: "Hey, do you wanna buy my ware?" I mean, eventually you're gonna get a YES, right?

SO, if you don't mind, I will only take seriously the advice of "Neanderthal Closers" that are pulling in MILLIONS OF DOLLARS EVERY MONTH from hardcore selling. The numbers don't lie, so obviously, they must be doing something right.

Originally Posted by misterme

My take on this thread:

So instead of looking for the elusive magic phrase to use to hammer the target, the answer involves a bit more work. But once you have it, it's like judo. You'll use it to leverage the target instead of fighting the target.

So, what can you say that persuades them to want your stuff before you ask for the money?

Yeah OK.

But you still haven't answered the original question. "What's your best response to the objection: It's too expensive?"

By the way, I'd like to give a quick shout out to everyone that participated in this thread and stayed on topic, and actually gave a real response to the original question. Thanks, I appreciate it. I now have a few rebuttals ready to go which I'll be posting soon.

SO

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Claude Whitacre

7 years ago

Originally Posted by SupremeOverlord

I know this will sound crazy, but I'll say it anyways: CONSULTATIVE SELLING DOES WORK. In fact, it works almost as well as simply going around and asking everyone: "Hey, do you wanna buy my ware?" I mean, eventually you're gonna get a YES, right?

SO, if you don't mind, I will only take seriously the advice of "Neanderthal Closers" that are pulling in MILLIONS OF DOLLARS EVERY MONTH from hardcore selling. The numbers don't lie, so obviously, they must be doing something right.

Your field of vision is way too narrow. For every closer (me) that is making a fortune, there is a guy that is consultive selling, that is also making a fortune. And, truth be told, the better your technique, the more you come off as a consultive salesperson.

And at a high enough level, your technique becomes invisible to the customer, and he views everything you do as consultive.

Your post shows you have never been successful at selling with a more consultive approach. That doesn't mean it doesn't work. It means you don't know how to do it.

Yes, the closers that are making "millions of dollars every month" are doing something right. But so are the more professional salespeople.

And, if you have been selling for a decade, and still sound like you are pitching, you haven't learned much.

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SupremeOverlord

7 years ago

Originally Posted by Claude Whitacre

Your field of vision is way too narrow. For every closer (me) that is making a fortune, there is a guy that is consultive selling, that is also making a fortune. And, truth be told, the better your technique, the more you come off as a consultive salesperson.

And at a high enough level, your technique becomes invisible to the customer, and he views everything you do as consultive.

Your post shows you have never been successful at selling with a more consultive approach. That doesn't mean it doesn't work. It means you don't know how to do it.

Yes, the closers that are making "millions of dollars every month" are doing something right. But so are the more professional salespeople.

And, if you have been selling for a decade, and still sound like you are pitching, you haven't learned much.

You say you are making a fortune, right?

Look, I've only been active here for less than a month, and it is clear to me that a lot of people are straight up bullshitting about what they're really doing.

For someone that's making a fortune you seem to spend a lot of time here peddling your expertise for ONLY 2.99. Which is great!

But, here's what I found: SHOCKING THREAD REVEALS THE TRUTH ABOUT WHO'S REALLY MAKING MONEY IN THE WARRIORFORUM!

I mean, I was shocked when I saw the link. It really reveals A LOT of truth behind who's really making money here, their intentions and where they're going: You say you're making a fortune, but your goal doesn't seem to match that of someone who's making a fortune.

Like I said before: I will only take seriously the advice of those "Neanderthal Closers" that are proving themselves each and every day and pulling in MILLIONS OF DOLLARS EVERY MONTH from "hard selling" and shutting deals down, because that's where I want to be.

SO

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bob ross 7 years ago

You're just selling them on an appointment right? If you're not trying to close them on buying something then don't get too involved in it. I think you sell home improvements right?

you: "I totally understand Jim, so it's not that you wouldn't like new windows, it's just that you feel it's probably too expensive or not affordable at the time right?

them: Yeah, exactly

you: "That's OK Jim. The first thing you should probably do is at least find out how much it will be so that when you are ready down the road you can have an estimate for reference at least right? ...

[if you want to tighten up the lead you can set the appt and collect all his info, and then afterward ask him probing questionse like "We'll see you tomorrow at 6 then, thanks ... and hey just out of curiousity when do you think it might be more affordable to you, a few years or so?"

When you say things like that after you've already set the lead, their guard is down and they'll say all sorts of crazy stuff like, "oh no probably next year", or "I guess I'll know when I get the price" etc. You'd be amazed at how solid these leads can be ones that initial resistance is broken down.
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Claude Whitacre

7 years ago

Originally Posted by SupremeOverlord

You say you are making a fortune, right?

Look, I've only been active here for less than a month, and it is clear to me that a lot of people are straight up bullshitting about what they're really doing.

For someone that's making a fortune you seem to spend a lot of time here peddling your expertise for ONLY 2.99. Which is great!

But, here's what I found: SHOCKING THREAD REVEALS THE TRUTH ABOUT WHO'S REALLY MAKING MONEY ON WARRIORFORUM.COM

I mean, I was shocked when I saw the link to the thread above. It really reveals A LOT of truth behind who's really making money here, their intentions and where they're going: You say you're making a fortune, but your goal doesn't match that of someone who's making a fortune.

Like I said before: I will only take seriously the advice of those "Neanderthal Closers" that are proving themselves each and every day by pulling in MILLIONS OF DOLLARS EVERY MONTH from "hardcore selling", because that's where I want to be.

SO

You are not the first newbie salesperson to make a similar post. It's a common reaction for newbies to lash out, when they hear something uncomfortable. If I thought it would improve your life, I'd offer evidence that..yes, I've made a fortune. The post you link to was a joke. Read it again, it will be more obvious to you.

But I don't think it would matter in your case. And...it's an interesting phenomenon that somehow a few people think writing books equals a lack of income. It doesn't. In fact, sales expertise gives me the freedom to spend time writing about what I know.

And, I have to ask, seriously, you are only going to follow the advice of people making "millions of dollars a month"? Seriously?

But really, I tried. I even gave you the benefit of the doubt several times. And you have been receiving advice here, from the best of the best. (I don't mean just me). Several people here have genuinely tried to help you. These are people with successful businesses, that are sharing what they know. People with successful businesses feel an obligation to help new people.

But, I admit, I don't earn millions of dollars a month. So....you should feel sorry for me. Pity me. I used to be somebody.

PS. I decided to leave up my last post, commenting on your pitch. Others will find the lesson valuable. I'm sincerely sorry you didn't.

Added later; If anyone wants the best book on how to handle sales objections, it's written by our own, Misterme. I got a lot out of it. Here's a link.

http://www.amazon.com/When-They-That-This-Photogra...

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bizgrower

7 years ago

Originally Posted by SupremeOverlord

You say you are making a fortune, right?

Look, I've only been active here for less than a month, and it is clear to me that a lot of people are straight up bullshitting about what they're really doing.

For someone that's making a fortune you seem to spend a lot of time here peddling your expertise for ONLY 2.99. Which is great!

But, here's what I found: SHOCKING THREAD REVEALS THE TRUTH ABOUT WHO'S REALLY MAKING MONEY IN THE WARRIORFORUM!

I mean, I was shocked when I saw the link. It really reveals A LOT of truth behind who's really making money here, their intentions and where they're going: You say you're making a fortune, but your goal doesn't seem to match that of someone who's making a fortune.

Like I said before: I will only take seriously the advice of those "Neanderthal Closers" that are proving themselves each and every day and pulling in MILLIONS OF DOLLARS EVERY MONTH from "hard selling" and shutting deals down, because that's where I want to be.

SO

Claude's - or anybody's good $2.99 ebooks - are not really about making money from the direct sales of the ebook. They are about helping others achieve their goals. And, they get people calling the author ready to buy their service. Really sad to have to explain that to a "marketer".

Also very sad that you consider the link you posted about income to be "research".

I suggest that you sit on the sidelines more, study the experts here and elsewhere, and don't come back until you have gained maturity and can be more respectful to others. Especially when they are helpful and respectful to you.

Dan

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animal44

7 years ago

Originally Posted by SupremeOverlord

You say you are making a fortune, right?

Look, I've only been active here for less than a month, and it is clear to me that a lot of people are straight up bullshitting about what they're really doing.

For someone that's making a fortune you seem to spend a lot of time here peddling your expertise for ONLY 2.99. Which is great!

But, here's what I found: SHOCKING THREAD REVEALS THE TRUTH ABOUT WHO'S REALLY MAKING MONEY IN THE WARRIORFORUM!

I mean, I was shocked when I saw the link. It really reveals A LOT of truth behind who's really making money here, their intentions and where they're going: You say you're making a fortune, but your goal doesn't seem to match that of someone who's making a fortune.

Like I said before: I will only take seriously the advice of those "Neanderthal Closers" that are proving themselves each and every day and pulling in MILLIONS OF DOLLARS EVERY MONTH from "hard selling" and shutting deals down, because that's where I want to be.

SO

I apparently make far more than Claude and I have nothing for sale on here. And I don't "hard sell".

However, I wouldn't dismiss Claude so lightly. I have some of his books and we are in agreement on many things, others we are poles apart.

I'd suggest you really need to open your mind a little...

BTW I also insulted my early mentors - it took me some 35 years to fully realise just how valuable their advice was...!

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Claude Whitacre 7 years ago

Originally Posted by animal44

I apparently make far more than Claude and I have nothing for sale on here. And I don't "hard sell".

You and the OP are talking about this post;

Originally Posted by Claude Whitacre

My goal is $10,000 a month in income. However, I have been spending more than that for over 20 years.....so maybe I should update my goals.

It...was....a....joke. I was reading so many nonsensical goals, I just thought I would make fun of the whole idea.

And, the mere thought that anyone makes more money than I do, I find insulting and soul crushing. I need to lie down now.
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- animal44 7 years ago
  
  Originally Posted by Claude Whitacre
  
  You and the OP are talking about this post;
  
  I was thinking of my Millionaire thread...
  
  Originally Posted by Claude Whitacre
  
  Although, the mere thought that anyone makes more money than I do, I find insulting and soul crushing. I need to lie down now.
  
  I hate to do this to you, but you can see from my new avatar that I'm also better looking than you...
  
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  Claude Whitacre 7 years ago
  
  Originally Posted by animal44
  
  I was thinking of my Millionaire thread...
  
  Dammit! That thread had real figures.
  
  Animal44... 1
  Claude........0
  
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tryinhere

7 years ago

Originally Posted by SupremeOverlord

You say you are making a fortune, right?

Look, I've only been active here for less than a month, and it is clear to me that a lot of people are straight up bullshitting about what they're really doing.

For someone that's making a fortune you seem to spend a lot of time here peddling your expertise for ONLY 2.99. Which is great!

I have known taxi drivers who make bare minimum wages, that own vast real estate portfolios and many similar stories.

Creating wealth is not so much about how much you earn.

"we all know those people on big sheite loads of dollars with big flash jobs, cars and homes but have zero disposable money because they live a "fake" rich lifestyle"

It is more not what you earn, but how you invest what you have, a person earning as little as $2.99 on multiple occasions and appearing to live a humble lifestyle could easily amass a fortune over time if invested and compounded correctly.

Learnt never to pre judge long time ago.

Thanks

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ewenmack 7 years ago

This whole exercise of seeking the magic rebuttal pill
is laughable.

When you go to a professional to fix a problem,
he/she will dig to find the cause before prescribing.

There's no detail here what was said,
how the prospect found about the caller,
what the prospect knows about the subject,
what was said at the start of the conversation...

nothing!

A doctor wouldn't just give a patient complaining of headaches
a prescription for 3 aspirin 3 times a day and one Ibupren 3 times a day
with food and say see ya later!

When the poor patient has dehydration from
over exercising, drinking booze, coffee and milk.

That's the cause of his stinking headache.

The magic rebuttal for the price is to expensive is like the Aspirin.

It's not getting to the cause of the problem.

None of us are equipped to get to the cause of the problem because we don't know
enough about the background and do we really want to go that deep without being compensated?

It takes real time to discover the problem then come up with the solution.

Best,
Doctor E. Vile
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misterme 7 years ago

I'm sorry. You didn't like my contribution? 13 posts in and he's insulting me and others. This noobie just wants people to do his homework for him.

Well, I'm not the one asking for help in how to answer such a common objection. Good luck.

Originally Posted by SupremeOverlord

You claim to know Belfort's stuff but if you knew what you were talking about...
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thet

7 years ago

Originally Posted by SupremeOverlord

You claim to know Belfort's stuff but if you knew what you were talking about you would know that the part where you say >>> "I hear what you're saying, but let me ask you: Does the idea make sense to you? Do you like the idea?" <<< is actually after the first rebuttal. Which is usually something like "I want to think about it" or whatever. I already have this in my script.

Jordan even says this in his course that after the second rebuttal all you need to do is Objection > Rebutt >> CLOSE. You don't even need to go into a loop anymore, because at this time you should have already established you are sharp as a tack, enthusiastic as hell, and a force to be reckoned with. Which brings me here:

When they give me the it's too expensive objection (usually after the first or second objection), I don't need to ask them again if the idea makes sense. THEY ALREADY AGREED IT MAKES SENSE. Why are they still on the phone with me? DUH?

I know this will sound crazy, but I'll say it anyways: CONSULTATIVE SELLING DOES WORK. In fact, it works almost as well as simply going around and asking everyone: "Hey, do you wanna buy my ware?" I mean, eventually you're gonna get a YES, right?

SO, if you don't mind, I will only take seriously the advice of "Neanderthal Closers" that are pulling in MILLIONS OF DOLLARS EVERY MONTH from hardcore selling. The numbers don't lie, so obviously, they must be doing something right.

SO

My god. The arrogance. How you do the little things, you do everything. So, if this is how you communicate here, I think you have bigger problems then facing a "price objection".

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quadagon

7 years ago

The problem I have is that objections don't live in isolation they are apart of a fluid changing interaction where what you hear is more important than what you say.

Inexperienced staff often come to our training team with this kind of question and we tell them all the same 'each call is different'.

Now this can ruffle a few feathers as the eager employee is after a magic catchphrase that will turn the conversation around.

We'll then ask the staff member to log every time he comes up against this objection and use it for training later.

When we listen to the calls its always apparent that each call is different. Our job is then to train the staff member to listen smarter and probe wiser. With this combination they can then select which tool they think will be most effective at handling the objection.

A couple of tools they might use:

Consistency and Commitment.

You said you are looking to ........... (Yeah) and you agree that ......... will do this (yeah). So when do you want us to start.

Social proof with decoy effect.

93% of our customer repeat buy package a as it gives you the best value for money of 1000 leads at £99. If that's too expensive we also do 500 leads for £79.

Full Takeaway

It is an investment and I appreciate that it's not for everyone. If you think that your sales process wouldn't benefit from prescreen leads and that you won't make 5x your investment then you are right not to buy. (Best to use their figures that you've obtained during the course of the conversation) Thank you for your time.

Full takeaway isn't for everyone and rookies should avoid it until they are comfortable with selling. You also have to have conviction and actually walk away.

Knowing which tool to use and not use is the art of selling. I think it really comes with experience you learn so much in those minutes after a unsuccessful sales pitch

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Steve The Copywriter

7 years ago

Ahh the memories, these threads take me back to my days when I sold advertising.

I learned one vital piece of info - whenever you get an objection - always, always agree.

And I could never do the hard sell, manipulation, or any linguistic tricks (even if I tried to, I would make a complete hash of it).

So the conversation would go a bit like this...

Prospect - It's too expensive

Me - Yes it is, it's not cheap is it?

Prospect - Too right it's not cheap. It's way too expensive

Me - I really wish I could do something on the price, but I promised to give you my best possible price - and this is it.

Prospect - Well, it really is too much.

Me - Listen, I do understand. Don't worry, I've enjoyed speaking with you, I hope I haven't wasted your time. No hard feelings. Let me - let you get on with your day… (I pack up my stuff, shake hands, and start to walk away)

Prospect - Listen, Steve, maybe we can talk a bit more…there must be a way I can do this…

Alright, I can hear you say - "How often did this happen?"

Quite often.

It surprised me just how often.

Steve

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SupremeOverlord

7 years ago

AWESOME! Why'd you do that man? Your first response is almost identical to mine.

OK, like I promised. Here's one of the rebuttals. Again, thanks to everyone that contributed

PROSPECT: It's too expensive / it costs too much...

I completely agree, (Prospect), it’s really not that cheap.

But let’s forget about the price for a minute, because the price really doesn’t matter. The only thing that truly matters here, (Prospect), is what we can do for you over the long-term with regards to your return on investment.

In fact, let me say this: the true beauty of the program is your return on investment will be absolutely staggering...

Let me put it this way:

We’ve done some research and we figured out the average lifetime value of a new customer in (your industry) is worth over XXXX dollars. Which is pretty good.

But let me ask you: let’s say, out of 10 phone calls that you get from potential customers, how many of them do you usually turn into a sale?

(Wait for response)

(Response #)? Wow! That's pretty good!

So, if I’m doing my math here correctly, if I send you 10 qualified leads and you close only (Response #) of them, we will have earned you over XXXXX dollars, right?

Exactly! And here's the best part... we're only charging XXX dollars PER LEAD!

So, look at it this way: with your investment of only XXXX dollars, you should, by your account, make a return on investment of over XXXXX dollars. You see what I'm saying here?

CLOSE.

Thanks
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Claude Whitacre

7 years ago

Originally Posted by SupremeOverlord

]
I completely agree, (Prospect), it’s really not that cheap.

But let’s forget about the price for a minute, because the price really doesn’t matter. The only thing that truly matters here, (Prospect), is what we can do for you over the long-term with regards to your return on investment.

In fact, let me say this: the true beauty of the program is your return on investment will be absolutely staggering...

Let me put it this way:

We’ve done some research and we figured out the average lifetime value of a new customer in (your industry) is worth over XXXX dollars. Which is pretty good.

But let me ask you: let’s say, out of 10 phone calls that you get from potential customers, how many of them do you usually turn into a sale?

(Wait for response)

(Response #)? Wow! That's pretty good!

So, if I’m doing my math here correctly, if I send you 10 qualified leads and you close only (Response #) of them, we will have earned you over XXXXX dollars, right?

Exactly! And here's the best part... we're only charging XXX dollars PER LEAD!

So, look at it this way: with your investment of only XXXX dollars, you should, by your account, make a return on investment of over XXXXX dollars. You see what I'm saying here?

Take out; "because the price really doesn’t matter." Everyone you are saying that to, is thinking; "It sure does to me". Seriously, after you say that, most aren't listening. If you said that to me, I'd think you were an idiot.

'You see what I'm saying here?" should be , "is that what you're telling me?"

If they are your figures, they are wrong. If they are the prospect's figures, they are right.

"Exactly! And here's the best part... we're only charging XXX dollars PER LEAD!"

Change it to..."and that's the best part. Your cost to earn that ($500) is only $75, based on your figures. Does that sound right?"

"You see what I'm saying here?" is terrible. It gets you nothing. You are literally asking "Do you understand the language I am speaking?" The agreement gets you nothing.

"Is that what you want?' is better. They say "yes" to that, and they bought. At that point, they say "Yes" or struggle to think of another way out.

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Claude Whitacre

7 years ago

Originally Posted by Steve The Copywriter

Ahh the memories, these threads take me back to my days when I sold advertising.

I learned one vital piece of info - whenever you get an objection - always, always agree.

And I could never do the hard sell, manipulation, or any linguistic tricks (even if I tried to, I would make a complete hash of it).

So the conversation would go a bit like this...

Prospect - It's too expensive

Steve;

That reminds me....

I haven't heard "It's too expensive " for decades. I used to get "I can't afford it", a different objection. "Expensive' indicates a lack of building value. But if I actually heard it, and I was still in "answer objections and wear them down" mode, I'd say ;

"Too expensive?" and make them say something else.
"Why do you say that?"
"You must have had an experience. Tell me about it"
"Interesting. Tell me more".
"Wow, what happened then?"
"You're joking! What did you say to the guy?"

Honestly, I would just ask these questions because;
1) I know that it's just a process of wearing them down.
2) If they do most of the talking, it wears them down faster.

Eventually (sometimes 30 minutes later), when I see them weakening, I'll make some very minor concession, to allow them to buy and keep their dignity.

The only reason I don't sell that way now, is that I don't need to. But it worked exceptionally well for a few decades.

I know something about humans. We love to do two things, that we never tire of; Complain and brag. If the prospect is complaining or bragging, and I just keep along with him....eventually, he'll think I'm wonderful.

And buying from me (if it makes any sense at all) is just the natural result of the experience..the "Happy Ending" if you will.

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Steve The Copywriter 7 years ago

[QUOTE=Claude Whitacre;10439166]Steve;

I'll make some very minor concession, to allow them to buy and keep their dignity.

An excellent and a rather crucial point.

The "concession" shouldn't be on the price - but an add on or an extra, always have that "something" to seal the deal.

Steve
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peter_act

7 years ago

Just got back from China, which I know is a different culture, where "It's too expensive" is actually expected.

For instance, I was looking at some silk clothing, priced at 498 yuan. When the salesgirl approached, I said my standard Chinese phrase "Tai gui le" (pronounced tie gooey la), which means "too expensive".

"OK", she said, "For you, 200 yuan", a drop of over 50%.

I suppose I could have got it even cheaper, but she was happy with the price, I was happy with the price, so I bought the goods. Whole transaction over in 30 seconds.

Point is, as long as you are making a profit, just sell what you have to sell at whatever price - you are better off making a sale with $10 profit in 30 seconds, than spend half an hour trying to sell something at 100% profit to someone who didn't want to buy anyway. Your time is much too valuable to waste explaining "value" to someone who is not listening. (of course, this is not suitable for anything with an after sale service)

You could also try the Don Alm approach, also used on lots of websites, where there are three packages,
one super cheap, with very limited features, one very expensive, with lots of features nobody needs, and your real price somewhere in between the two.

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animal44

7 years ago

Originally Posted by peter_act

Point is, as long as you are making a profit, just sell what you have to sell at whatever price - you are better off making a sale with $10 profit in 30 seconds, than spend half an hour trying to sell something at 100% profit to someone who didn't want to buy anyway.

Why not just sell to people who want to buy what you offer...?

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Claude Whitacre 7 years ago

Originally Posted by animal44

Why not just sell to people who want to buy what you offer...?

In a retail environment, that's what you have. You attract buyers to come to your store.

I can't think of a reason to attract people who aren't going to buy.

On that note, if you are going out to make sales, it's a different ball game. You can prospect and qualify until you are just pitching to the people who already want to buy. That would almost certainly be less than 1% of the people you contact. But it's certainly still profitable. In fact, it almost takes selling out of the equation. I can see where that would be a serious advantage in some industries.

When I was selling vacuums in people's homes, there was about a 15% chance of a sale, if I just presented my product to anyone that would listen. Most newbie salespeople do just that, and it eventually kills them. I did that the first few years. Stupid...stupid...stupid..

I also met a young man that prospected by cold calling door to door. He only showed his vacuum cleaner to people that said they would probably buy one, and that were already looking for a new vacuum. One in a hundred people he talked to, met that criteria. So...the vast majority of his time, he was walking and knocking on doors. Again, workable.

After a few decades of experimentation and testing, I discovered that no matter how I got in the home (fair drawing, cold calling, advertising, referrals)..if the people fit a certain criteria, that I could establish on the phone before i got there...there was an 80% chance they would buy from me. But that didn't mean they were interested in buying already, just that they fit my criteria of a "Highly Likely Buyer".

That criteria was;
Both husband and wife would be present for the presentation.
One of them worked full time.
They owned their own home, or were buying it.
They had already bought from an in home salesperson in the past. (Most important)
They already knew someone who bought from me (even if it wasn't a referral)

I found that 6% of the general population met that criteria. A few questions on the phone, and I made my decision. And then it was just an easy sale...80% of the time. And I never ever made further attempts. These were all one call closes, no exceptions.

When I was/am selling my Local Online Marketing service to business owners, my criteria is;

Must be the owner. No partners. No managers.
They are used to buying advertising. (Huge plus)
They already have a website.
The majority of their customers are within 50 miles.
They sell one or two main products/services. No variety stores.
The owner is there to hear my presentation.

80% of the time, they would buy.

From any source; cold calling, leads from speaking, referrals, advertising online, leads from my books....if they share the qualities of a Highly Likely Buyer....they bought 80% of the time, on the first call. No multiple calls.

Just eating lunch, and had a minute. Hope it helps someone.
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animal44

7 years ago

Originally Posted by Claude Whitacre

When I was/am selling my Local Online Marketing service to business owners, my criteria is;

Must be the owner. No partners. No managers.
They are used to buying advertising. (Huge plus)
They already have a website.
The majority of their customers are within 50 miles.
They sell one or two main products/services. No variety stores.
The owner is there to hear my presentation.

You forgot - they must have money to spend

Originally Posted by Claude Whitacre

Insulting the prospect works zero percent of the time.

Wanna bet...?

The restaurants that thrive on insulting their diners - BBC News

Some old regulars who revelled in the old regime's carnivalesque atmosphere have reacted with dismay. "Here, bad service is 'de rigueur'," says one fan on the restaurant's TripAdvisor page. "When we get a friendly waiter, it's disappointing."

Celebrity chef Marco Pierre White once boasted of throwing out 54 customers in a single night and ejecting diners who asked for salt and pepper. The reputation of Michelin-starred Dublin chef Kevin Thornton was burnished after reports he verbally abused a man who asked for chips with his meal.

Bookings at the Adelphi in Liverpool rose by 20% after a BBC reality series was screened featuring rather forthright staff. The owner of a Cumbria tearoom which attracted online criticism for its grumpy service won praise after hitting back that the north of England was "a place that still maintains a healthy respect for a good old fashioned surly disposition".

Perhaps the venue most famous for insulting its customers was the Coach and Horses, the Soho pub whose former barman Norman Balon had matchbooks printed declaring him "London's Rudest Landlord".

His broadsides at drinkers - "You're so ugly you're upsetting the customers", "The beer is meant to be cloudy - I suggest you go elsewhere", and "You're too boring to be in my pub" - were celebrated by regulars such as journalist Jeffrey Bernard, painter Francis Bacon and the staff of Private Eye.

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Claude Whitacre 7 years ago

Originally Posted by animal44

The restaurants that thrive on insulting their diners - BBC News

I went to a 1950s themed restaurant in Chicago (I think), where they were rude to you. I left a $50 tip. The waitress held it up and said, "Hey! This guy left me a $50 tip!". Another girl walked over and said, "That's nothing. I just got a $100 tip from these other guys". It was all theater of course, and we all got a kick out of it.
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Claude Whitacre 7 years ago

Originally Posted by animal44

You forgot - they must have money to spend

That's strongly implied by how much they spend in advertising. Then I ask what results they get. I want to know their mindset before I begin. Whatever they say, that's the entry point for the presentation.

By the way, whether they say, "None of our online ads work. Only our newspaper ads work" or they say, "Our ads all pull like gangbusters".......I'll keep going. As long as they are used to spending at least $2,000 a month on advertising, I can dovetail what I sell into what they are currently doing.
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SirThomas

7 years ago

I don't know at what point of your presentation your prospect says "it's too expensive", but the best answer I ever came up with was "Comparing to what?".

With time, I changed it to "When you say it's too expensive, what are you comparing it to? Do you have something specific in mind?" Then shut up and let them talk. You will probably find out the true reason why it may seem too expensive... and it usually has very little to do with money. Also, if they're actually comparing your price to others, this is the best time to find out

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Claude Whitacre

7 years ago

Originally Posted by SirThomas

I don't know at what point of your presentation your prospect says "it's too expensive", but the best answer I ever came up with was "Comparing to what?".

With time, I changed it to "When you say it's too expensive, what are you comparing it to? Do you have something specific in mind?" Then shut up and let them talk. You will probably find out the true reason why it may seem too expensive... and it usually has very little to do with money. Also, if they're actually comparing your price to others, this is the best time to find out

For years, if someone said, "It cost too much" I would say, "Compared to what?". And it did a decent job of getting the ball rolling, to find out what they were really thinking.

The only reason I stopped using it, was that the "compared to what" forces them down a specific path....and it may not be the path that leads to agreement.

Sometimes, I'd ask, "Compared to what?" and they would say something like "Compared to not buying it". "Compared to what?" kind of forces them to think, and they don't want to think.

So I switched to;

"Too expensive?" or even just "Oh?"...and just let them talk. It is so open ended, they can take it anywhere, and it doesn't turn into verbal combat. It's almost like free association. If you ask several versions of "tell me more" (like I stated in an earlier post), they can't argue with you, because you've given them nothing to argue against.

"Compared to what?" prevents them from telling you a story that doesn't fit your response. And they want to tell you a story....of some terrible deal they made, some way they were taken advantage of, some special deal they have with a supplier, some example of how they negotiated a better deal....almost anything.

"Compared to what?" (or versions of it) prevents them from saying, "The last guy I bought from, stole my credit card, and sold me a box of rocks". And the only way you'll get there, is by not leading him down a different path. Even better than "too expensive?" is "Oh?"

When you just say "Oh?" like you are shocked that they didn't just buy......it serves two purposes. It allows them to go anywhere without resistance, and it implies that everyone follows your advice.

I see you are using it to get to their real concern, or real problem. My way just does that with less resistance, I find. "Compared to what?" has land mines, that may lead nowhere. My way, just takes out those land mines.

I hope that makes sense to you.

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savidge4 7 years ago

This thread is a true representation to the process that I spoke about in earlier posts. The OP wanted to hear exactly what they wanted to hear. Nothing less, nothing more. Prospects are 100% the same way.

If you trip over a fall over sale... you say everything that the prospect is wanting to hear.. you WILL land the sale. If your script is missing the mark.. guess what.. objections come into play. There are times the objections are used to simply get off the phone.. you as the sales person has already blown it. But, there are other cases where the objection is said to guide you back into the right direction... they WANT to buy from you, but you are not telling them what they need to hear.

I personally sell a service. I actually do hear "That is so expensive" an awful lot. I have processes and a guarantee in place to minimize the cause of this. I guarantee a return of investment within 30 days, AND I place the first month expense of my service in escrow.

So how do I then answer the question at hand? I agree... Yes, I am expensive. I fall apon my process to create ease in the sales process. If there is no gain, then there is no loss.

So my sales call in rough sounds like this. Name.. company name.. this is what we do. this is why we believe they are a fit for our company. this is our guarantee. this is how much the service costs for a 3 month contract. ( enter objection ) go back over guarantee, and then introduce the Escrow payment option. At this point I move forward with the process to ensure they are a perfect match for my service. I forward them a certificate of proprietary and data liability. ( yes kids I am insured if I as much as loose a single dollar for my clients ) At this point forget the service I am providing.. I have proven that I am worth what it is I am asking.

I have removed "we cant afford it" I have removed "your service is expensive" I have delivered documentation that separates me from any other company that will call and offer ANY service. And with all of that.. I accept just under 2 out of every hundred clients I contact.

For me.. them saying "yes" is not about me getting a check.. its about me ensuring I will be able to deliver. When I take on a client, I am literally ALL IN.

I hope I simplified my answer for you.
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Oziboomer

7 years ago

I've been away for a while and reading this thread as it has developed and in a way rather glad not to pass comment earlier but I just wanted to say how much I appreciated the "non-confrontational" reply that Claude pointed out....

The only reason I stopped using it, was that the "compared to what" forces them down a specific path....and it may not be the path that leads to agreement.

Sometimes, I'd ask, "Compared to what?" and they would say something like "Compared to not buying it". "Compared to what?" kind of forces them to think, and they don't want to think.

So I switched to;

"Too expensive?" or even just "Oh?"...and just let them talk. It is so open ended, they can take it anywhere, and it doesn't turn into verbal combat. It's almost like free association. If you ask several versions of "tell me more" (like I stated in an earlier post), they can't argue with you, because you've given them noting to argue against.

"Compared to what?" prevents them from telling you a story that doesn't fit your response. And they want to tell you a story....of some terrible deal they made, some way they were taken advantage of, some special deal they have with a supplier, some example of how they negotiated a better deal....almost anything.

"Compared to what?" (or versions of it) prevents them form saying, "The last guy I bought from, stole my credit card, and sold me a box of rocks". And the only way you'll get there, is by not leading him down a different path. Even better than "too expensive?" is "Oh?"

When you just say "Oh?" like you are shocked that they didn't just buy......it serves two purposes. It allows them to go anywhere without resistance, and it implies that everyone follows your advice.

I see you are using it to get to their real concern, or real problem. My way just does that with less resistance, I find. "Compared to what?" has land mines, that may lead nowhere. My way, just takes out those land mines.

The other few things I'd like to add are in relation to testimonials.

Testimonials are the natural antidote to objections.

Objections are a good thing because it show the prospect is actually interested and you can always use a case study or testimonial of how your solution was cost effective for a past client if you have that in your arsenal.

I would suggest adding price countering testimonials in the pre-sell or inserting some and bringing up the expensive objection yourself before you get it from the customer.

I'll often use words like "This is expensive and not for everyone but let me show you anyway"

Being known as being "expensive" is one thing and having a reputation as being "too dear" is another thing also.

In face to face selling often the price of what I predominantly sell is not revealed until the client has "made up their mind to buy" and I'll occasionally deflect the "it's too expensive" with a transition to...

"well it depends on how you are intending to pay"

The conversation then turns to "how to save" or benefit from the purchase by using different payment methods, reward schemes, upfront payments etc.

At the point when I find resistance to price it is usually just a matter of allowing them to digest the offer and making it as painless as possible for the client to proceed...

...that's why I like Claude's "Oh" approach....

...very disarming.

Thanks,

Ozi

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Claude Whitacre 7 years ago

Originally Posted by Oziboomer

I'll often use words like "This is expensive and not for everyone but let me show you anyway"

I used to say almost the same thing. "It is a lot of money. But people are buying these left and right. Would you like to know why?"

For some reason, they almost always said, "Yes"....almost like a challenge. And I was right back into the presentation.

I love this stuff. But I'm still depressed, because Animal44 says he makes more money than I do.

(I'm teasing)
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jimmcdonald909

7 years ago

Simply focus on people that don't find your offer expensive instead of trying to convince then it isn't. If something is broke i don't try and fix it i move on and look for something that works. End of.

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SupremeOverlord

7 years ago

Originally Posted by jimmcdonald909

Simply focus on people that don't find your offer expensive instead of trying to convince then it isn't. If something is broke i don't try and fix it i move on and look for something that works. End of.

YOU'RE KIDDING ME, RIGHT?

The truth is it doesn't matter if you're selling $5 ware or $5,000 widget someone out there is going to say "it's too expensive". It is up to the salesman to find out if that's a legitimate excuse or a bluff; and so he or she MUST rebut that sh*t. That's the difference between an order taker and a CLOSER.

Do you know how much money you're leaving on the table by simply giving up and just focusing on "people that don't find your offer expensive instead of trying to convince then it isn't"? I'm sorry, but I don't know any legitimate sales organization that would tolerate such rhetoric. That's cause for termination.

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scotaff

7 years ago

"It's too expensive".
That answer could mean- I am not interested in your product: I do not like your product; I don't have enough information to work out if your product is worth that; I have already seen a similar product for less; I am not in the market for your product yet;I do not like /trust you enough to part with that kind of money; I like the product but I am trying to get you to lower the price; I cannot afford the product right now; the price is way over what I expected, etc etc.
You have to ask more questions from the objector to clarify what the real objection is. The
problem is that on the internet price conditioning is a joke. "Entrepreneurs" often give a list of products that they are selling each with a crazy price attached and then offer the whole caboodle amounting to $800 say and offer it all for $39.95 thus leaving themselves with not an ounce of credibility that their products were ever worth $800. And if you switch away from the page you get an even lower price offered.
Buyers are not stupid. They see that prices are fluid and often unrealistic. So why would they accept your first price?

In your particular instance it may mean that you have not fully explained the financial benefits to your product or perhaps they have just bought a large consignment of something else and cannot stretch to your product. When I was selling, I always gave the
full price followed by a deposit and monthly terms to show that my product was affordable. Often then you will find that your potential customer ignores the full price and
is trying to alter the deposit/monthly terms ratio.

Another observation is that what is better- not getting the order at all or getting an order
albeit at a lower price. In the first instance you have not made any money, in the second
you have. And you should have several back up products that you may be able to sell to that new customer in the future now that they have trusted you sufficiently you give you some of their money. You may call it weak selling but after you have tried all the other avenues to sell at the asking price, half a loaf is better than no loaf.

Another way of looking at price is asking yourself whether the price you are charging is the optimum price. You do need to experiment with different prices to see at what price
gives you the best return. It may be that by dropping the price or raising the price from the one you have now increases your sales though lowering your profit margin or it decreases
your sales but increases your margins. If you don't know your optimum price it could mean that you are losing money.

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david2015

7 years ago

Expensive is a very subjective from person to person. For me I would see how much value can I get from it for the price I am paying. For an expensive item, there must be a great value attached to it.

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moneyg

7 years ago

Incorporate lead questions into your sales script...the object is to get them to say "yes" throughout your script so that when you close the sale, you can fight objections or rebuttals reiterating all the questions they answered with a "yes". If they still don't budge, well don't waste any more time with them and move on.

Just my 2 cents...good luck!

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elijahharry

7 years ago

It's not going to get any easier to afford it later.

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lerxtjr

7 years ago

Just wanted to say what a great thread this is. I've been on wf for several years and don't recall this topic being covered so directly. Anyone who works the lead gen market should be taking notes and testing ALL of these suggestions to see what works with your personality and market.

A couple of additions I haven't seen mentioned yet that have worked well for me are:

1. Have a backup plan with a lower price and less of an offering - You could say, "Yeah, every once in a while someone brings up price as being the #1 first priority...even over results, so I came up with a lower end package that might be more in line with your budget. Based on our conversation and me as your professional advisor, I'm really feeling my original package we discussed will provide the real outcome you're looking for, but at least you can get started in the right direction with this other."

People almost always go for the higher-end package because no one wants to "just get started."

2. Cite others the person might know - One of the niche markets I serve, everyone knows everybody in the niche. So, all I have to do when there's a price objection is say, "Yeah, I remember John Doe saying the exact same thing but he went forward with me anyway and I can say for certain that after he got his first $14,000 keynote gig, the last thing he was thinking about was how much he paid me."

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bizgrower

7 years ago

A friend in the lawn sprinkler business has the Ben Franklin quote on the side of his truck:

“The bitterness of poor quality remains long after the sweetness of low price is forgotten.”

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scotaff

7 years ago

Another response is to ask "is there anything else apart from price that is stopping you going ahead". When I was in sales-admittedly a fair while ago now, we wanted price to be the only objection since we drop closed and we asked that question when we were at the top price knowing that we had perhaps several offers with which we could reduce the price anyway. [I designed and sold kitchens to people in their house all in one visit.] We had the benefit of finance schemes as well to make the kitchen seem more affordable.
But that question eliminated all the other objections like "I want to think about it": etc isolating it just to price.
The only other objection I didn't mind was "I want to talk to my bank manager/accountant
before I go ahead" which was an obvious stall instead of saying no. My response was to shake the man's hand and say" thank you for your order-you wouldn't want to speak to your manager unless you wanted the kitchen and so now it is just a question of arranging the finance-isn't that right? While you are doing that I have a finance sheet here that is an alternative to your bank and it could be helpful to let him know what terms we are offering so that he will have to give you a better price or you can stay with our option and of course by signing our forms you guarantee the price of the kitchen to avoid any price rises or changes that could affect the price I have just quoted especially as it may take a little time for you to get an appointment and a response and it would be a pity to lose the price I have just quoted for the sake of a couple of weeks wouldn't it?

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jicenogle1

7 years ago

A couple come to mind Ziglar used price v cost which works, the feel felt found is also very strong. But if you are getting this particular objection consistently then as stated earlier you may want to look at how your qualifying your prospects. A cold call is a great machine to generate sales. There is no one part that will make it, but any part done half assed will break the whole thing.

Thanks
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Robscom 7 years ago

I guess I'm a simpleton, but here is how conversations usually go:

[customer walks in]

Scenario 1

C: "Hey! I saw that Awesome Widget that ABC Company has! How much does something like that run?"

R: "That one runs about $10K, ball park."

C: "OMG I HAD NO IDEA IT WAS THAT MUCH!" [faints]

R: [rouses customer] "Hey, welcome back. So what kind of budget do you have?"

C: "I was looking at spending more like $2K."

R: "No problem. Let me show you what options we have in that price range..."

Scenario 2

C: "Hey! I saw that Awesome Widget that ABC Company has! How much does something like that run?"

R: "That one runs about $10K, ball park."

C: "Really? Hm. What can we get if we have a little more to spend? We'd like a widget that can {insert hopes and dreams here}."

R: "No problem. Let me show you what options we have in that price range..."
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FemaleAddadotcom

7 years ago

Originally Posted by SupremeOverlord

Alright, so the other day I'm on the phone trying to sell my leads right, and I get his DARN objection again: "It's too expensive" or "It costs too much" ... UHHH! I can't seem to find the best answer to combat this objection.

I don't get it all the time, but most times I do, I never seems to come out of it smoothly...

So, to all my experienced sales geniuses, what's your BEST REBUTTAL to "it's too expensive" or "it costs too much"?

dont compare with other products.. sell the thing that makes your product costly.. if its brand.. sell that.. if its technical then sell that..

say how your product is far better than others.. take no names in particular.. but make sure to make the distinction..

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helisell

7 years ago

I haven't read all the replies/posts so forgive me.

OP...you'll want to work out the lifetime value of a new customer so that you can
get a new one on board. Once you know that figure you can do a deal to get a new customer
by simply saying this:

"Too expensive?"
Ok ms potential customer how about I do you a deal to try my leads?

If they say no just say ok bye!

If they say yes to a deal say this:

Realistically, what's the most you'd pay me for a sample of say 10/20/50 or whatever leads?

Whatever figure they give you just say.....er realistically?

Do a deal. If your leads are any good they'll be begging for more and you can charge whatever you want. If your leads are not worth the 'deal' price then why are you selling them?

Just do a deal to get them on board.

You'll never even think about the next time they say "too expensive"

Just had this little flashback to when I was selling my own sales training.

When I told a prospect what my daily rate was they usually gasped and said wow that is really expensive I'd say I'm glad you think so 'cos if there is anyone out there charging more than me, my price is going up.

In fact mr customer I am the most expensive sales trainer in the country by quite a margin.

So when you've finished gasping could you answer me this question?

Why do you think I'm so expensive?

Can you guess what they said in 99% of cases?

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animal44 7 years ago

Originally Posted by helisell

Why do you think I'm so expensive?

Can you guess what they said in 99% of cases?

Because you're a greedy bugger...?
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- helisell 7 years ago
  
  Originally Posted by animal44
  
  Because you're a greedy bugger...?
  
  He He He.......and If they'd said that....what do you reckon the answer was?
  
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LifeSafetyExpert

7 years ago

There are so many ways to answer. Looks like everyone did a great job. I also like to have an option A,B and C. I learned to NEVER have just one option. Usually price is just a complaint though, not an objection. Some people bitch about price for sport. In the end, as long as you show the value. Price doesn't matter so much.

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tigerbait

7 years ago

If you're selling leads, and someone says you're too expensive, then why not just say "NEXT". Certainly you have others in the pipeline you can propose the same offer to.

I refuse to wheel and deal with potential customers anymore. Nor will I give away free leads. It's always a no-win situation.

Short story - about 4-5 months ago I had a spot open in one of my cities that I needed to fill with a new client.

Dude wheeled and dealed me, and I agreed to give him 5 leads for free, and he could decide whether or not he wanted to continue (few details left out). Anyways, the 5 leads came and went, and I emailed and said, alright buddy, I can't send you any more business until we come to an agreement. He knew I had others in the pipeline, 4 had confirmed they wanted the leads no questions asked, however this was later in the day after I already made the "5 free leads" deal - and I stand by "first come, first served."

Anyways, before he could even respond to setting up payment (which I can't remember if I gave him til the end of the day or 24 hours to cement the deal), I sold the leads to his competitor down the street.

Dick move? Maybe.

But this was his response:

I need more leads to really tell if this is going to work. So for now, I'll pass on the offer. It seems you're way too eager to make the sale, so I don't think it's going to work. - and I think he added in a backhanded insult as well.

LOL. Reason I was eager to make the sale is that I had 4 people already ready to pay if I offered them, and pay up front. And #1 on that list took me up on the offer as soon as I called him.

Rebuttal for "it's too expensive"?

My rebuttal is now, and will always be: "NEXT. "

I have no patience for bullsh!t.

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pbgDave

7 years ago

"It's too expensive? Compared to what?"

"Oh, I see, so compared to the WIX site your foster child made our fee is expensive to you. Well, Mr. customer, you're mostly right, we aren't cheap. However, the most expensive part of running a business is losing sales that you should have made if you had the right tools, and the right advertising, and that's where we can help, because this isn't a cost, this is an investment...

Thanks
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Robscom

7 years ago

Originally Posted by pbgDave

"It's too expensive? Compared to what?"

"Oh, I see, so compared to the WIX site your foster child made our fee is expensive to you. Well, Mr. customer, you're mostly right, we aren't cheap. However, the most expensive part of running a business is losing sales that you should have made if you had the right tools, and the right advertising, and that's where we can help, because this isn't a cost, this is an investment...

Hopefully you are exaggerating for effect and not using this wording and tone.

If not, then I don't see this approach working well. At all.

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Claude Whitacre 7 years ago

Originally Posted by pbgDave

"It's too expensive? Compared to what?"

Let's ignore the rest of what you said. Just saying, "Compared to what?" is antagonistic. It's slightly combative. The prospect doesn't owe us a n explanation. And if someone said, "Compared to what?" to me, I'd probably say, "Compared to not buying". And it would be over.

The best answer I've ever used in the field (in the rare case that I've heard "It's too expensive")is either, "Too expensive?' or simply, "Oh?"....like you have never heard it before.

It's completely non-confrontational, and will generally allow the prospect to run out of steam with that objection....or at least allow them to give you an easier objection to overcome.

Insulting the prospect works zero percent of the time.
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max5ty

7 years ago

Could be it is too expensive. Maybe you are charging way too much...

on the other hand, if you know it's priced fairly then maybe you haven't built enough value into what you're offering...could be your sales pitch, letter, or whatever lacks the right value building skills.

You need to build value in your product. So much value it seems like a real deal.

No value means everything is always too expensive to the person you're trying to sell your product to.

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Walt SEO

7 years ago

I've done over 30,000 cold calls myself and love this objection. If a client gives me a respond like that then I KNOW I haven't described enough value to my product and haven't made the client 'need' it. When a client 'needs' something then nothing is too expensive. How to make a client 'need' it? Sorry but that depends on products and I've never sold leads.

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Gimpa

6 years ago

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John Durham

6 years ago

My reply is "Later on then". Click. If you think it's too expensive to supply your sales people with high quality leads, then that is " your bad" . And I would walk on, knowing that in the next few calls, someone would see my value.

A guy with that argument is gonna be a pain in your ass the whole way.

The only way I would rebut and try to get that sale is if it was a one time thing... Like "Bamm" the sale is done. Never have to deal with them again. Then I would try to close it and rebut.

But if it was going to be the type of sale where I had to continually deal with such a mindset, then I would pass and say "Later".

No thanks.

I could give you 20 different rebuttals..., but that's what I would do.

There are too many fish in the sea. It can be much easier than battling with people and wrestling with them to get a close.

Don't talk to them in the first place if they aren't highly interested and half sold already, for one.

Don't waste energy on "tire kickers".

On another note: . The body of your sales pitch should cover and resolve all of the common objections, way before you get to the close.

You have to know ahead of time what the objections might be, and knock them out before you get to the close.

Closing should not be a question , but a natural conclusion.

- John Durham

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"It's too Expensive" - WHAT'S YOUR BEST RESPONSE?

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