How to Overcome your Prospect's Hesitation about the price of your products being too expensive!
Would it be okay if we learned how to overcome the “too expensive” objection or hesitation that some prospects feel about the cost of our network marketing products?
You have a prospect with rapport going well. She likes you. She likes the products. She loves what they can do for her. That moment arrives when the price is revealed. And immediately, out of her mouth she says, “It’s too expensive.”
There are different ways to handle this type of objection.
You could say to her, “Is price is the only thing that is stopping you from buying?”
you could ask, “When was the last time, the cost of something every stopped you from buying?”
And my all-time favorite way of handling her objection is “Are you ready to do something about that so you never have to say I don’t have the money again?”
All these ways of handling her objection are good. But if you could learn how to overcome hesitation about the cost before it enters into the prospect’s mind, would you jump at it? Of course you would.
Learning how to overcome hesitation from the prospect about cost is actually about overcoming indecision.
To be indecisive is not having a convincing reason that something you want and need has value for you. It’s being up in the air about the ability to make a buying decision because “what’s in it for me” has not been answered.
So let’s cut out the possibility of our prospect becoming indecisive and crush price objections.
Overcome Hesitation About Cost with Marketing 101
Selling value over price is the only true way to overcome any objections from your prospects.
If you build up enough value with your products, services and opportunity, you are guaranteed that signup or a positive buying decision about 90% of the time.
There are two ways to build value:
- Find a problem in the prospect’s life and solve it.
- Market to basic human desires, wants and needs.
Marketing 101 states, “Find a problem and create a solution, and market to the five basic human desires.
Ask yourself, “What is it of my products, services and opportunity which can solve my prospect’s immediate problems and fulfill their wants, desires and needs? If you can find that answer, you will have the keys to the kingdom of success.
Learn Marketing 101 and you have learned how to overcome hesitation about the “price being too expensive,” or “if this is a pyramid scheme,” or “I’m broke and don’t have any money,” or selling isn’t for me,” etc. (See my articles “Easy Ways to Neutralize Objections in Network Marketing” and “Rebutting Objections in Network Marketing Through Posturing”).
Let me illustrate Marketing 101 and how to overcome hesitation about price:
Two college girls at a trade show in the heat of summer setup an exhibition booth for their oils, lotions and creams. Their sign reads:
Soothing Oils, Lotions and Creams! Only $5.00 a Box.
They fail miserably in their first attempt of selling their network marketing products. Over 4,000 people are at the trade show and not a single person makes a purchase.
What is the problem?
- Is the problem that the two girls are college age?
- Is the price of the oils, lotions and creams too high?
- Maybe the girls should offer frequent flyer miles with every purchase.
- Should the girls offer everyone a distributorship where everyone can get the products at wholesale?
- Perhaps, their sponsor lives in another town.
- Should their network marketing company home office offer a car or housing bonus?
No. These factors are not the problem.
The problem is the people at the trade show don’t feel a need or desire to purchase oils, lotions and creams.
Are we treading in familiar territory?
How many of our own prospects wake up every morning and say:
- I feel a need for more anti-aging drinks in my life.
- I feel a desire to spread soothing oils lotions and creams on my skin today.
- I feel like improving on my weight management today.
- I feel a strange urging to find a vitamin which is going to energize me and give me nutritional value in my life today.
- I feel like destroying my free time going to lots of opportunity and training meetings.
- I feel like selling vitamins and energy drinks to all my friends and relatives today.
- I feel the urgent sense of need to spend $650.00 on a distributorship kit today.
I seriously doubt any of our prospects wake up and think like that.
I am certain if you knocked on their door and offered them oils, lotions and creams for only $1.00 instead of $5.00 … they’d slam the door in your face.
Here is how most of our prospects wake up: They wake up in a bad mood. They didn’t get a good night’s sleep. They think life has dealt them a bad hand. The last thing on their minds is your products and opportunity.
Getting back to our two college girls who failed at their first entrepreneurial venture.
Instead of giving up, our two girls return home and rethink their strategy.
They return to the trade show and paint another sign.
FREE Foot Massage!
When they reopen their oils, lotions and creams booth to all the foot traffic at the trade show, lots of people stop by and visit. The two college girls politely tell the prospects:
“We have two kinds of massages. One with warm soothing lotions and creams. The other soaked in water with oils that sooth tired sore feet. Try both. Then you know which massage you’d like us to give you.”
After trying the two massages, every prospect asks the following question:
“Where can I get these soothing products for my tired old feet to see the rest of trade show?”
The two girls reply: “Right here and that will be $15.00.” (they upped the price and got it).
The oil, lotions and cream exhibition booth was a success. Everyone bought oils, lotions and creams for their feet. The profits were astounding.
The profits were so good that the two girls eventually offered their next best product line, a refreshing cold drink to revitalize energy on a hot summer day.
The two girls learned Marketing 101. They saw a problem with foot traffic and tired hot feet and solved it. They appealed to the needs, wants and desires of the people.
Whatever products you have, find people’s problems … solve them … and cater to their basic human desires and you will find success.
How does this illustration help us to overcome hesitation from the Prospect about the price being too expensive?
Build value which solves people’s problems (a foot massage with soothing oils, lotions and creams on a hot summer day) and meet their basic human desires (desire to finish seeing the sites of the trade show with soothing feet).
Price was no longer the issue (they got $15.00 per box instead of $5.00).