Coaches and Consultants constantly get the following:
“Your prices are too high”
“You charge too much”
“The coach down the road charges $500, why do you charge $5000?
“I can’t afford it”
The list goes on and on.
The purpose of this case study is understand the reason behind these customer concerns and have a strategy to deal with them effectively.
I have had the privilege of working with hundreds of coaches and they all have struggled with these at one point or the other. The funny thing is that, they start to question whether they really are ‘worth it?’.
I always remind them “Your Work is Not Your Worth”
So let’s take a deep dive into pricing objections and concerns
Price Worry = Value Is Blurry
If clients keep on worrying or debating about your prices, the origin of this is not in the mind of your client as many people believe, but in YOUR mind.
If you charge $8,000 for your services and you yourself have never spent that much on yourself or don’t believe that you’re worth that much, then how can you expect your clients to do so? One in three small business owners face this, you are not alone.
Now am I saying you need to spend into your business as much as you charge? Not exactly. It does make it easier and removes most of the uncertainty in building your business, but if in your mind you truly don’t believe in the value of your services or products, when you speak to a prospective client it will come across strongly.
Confidence is key. If you hop on a horse and are nervous, the horse will feel it and will become nervous. It is certainly not going to be the smoothest ride, you won’t enjoy it and neither will the horse. Horses are as dependent on the rider as clients are on you, remember this.
When someone offers you extraordinary value and charges you accordingly, do you complain? If you do, why? What can you learn from your own experience?
They don’t see that value in what you offer.
Yes, you may have an extremely valuable product or service that will change their life and yes, you may have helped hundreds of people before you, but if they don’t see the value in what you offer and you don’t convey that to them, you will always get price objections.
Even if people have the money and the willingness to buy because they don’t see your value, they will hold back because… well… you haven’t conveyed that to them.
People pay $1000s of dollars for a new TV, yet they hesitate when it comes to paying you the same. Is it really a question of money or value?
They see your product as an expense rather than a necessity
If done wrong, your prospects can end up seeing you as an expense and not very valuable to them. The reason for this is because they don’t see an immediate need for it NOW. They may believe that in the future down the road, somewhere, your product or service may come in handy for them and if i’ve learned anything, it’s that ‘down the road’ never comes.
So these are some of the reasons why you’re getting these price objections.
If you want to learn more about how to get highly qualified people who are super interested in your services, are willing to pay you high ticket prices and have these people come in consistently on a monthly basis, then click the link below and watch our special webinar.
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