Your Products are Too Expensive!
And other things that you may occasionally hear.
Ever had a prospect say “Your products are too expensive” or something like “It costs too much“? If what you said was to effective, this post is for you.
To make the point about price, let’s start with a story:
A friend says to us, “I have these tickets to the theater tonight and I can’t go” while holding them out.
What is your first thought? How much do they cost? Or; what’s the catch?
This is your friend, someone you know who is trying to give you tickets. So, why the reaction?
The reality of “the human condition” is we are cautious even when someone is just being kind and offering us something for free. So, if we are in the position of having had a presentation about a business, imagine how much more guarded we can feel!?!
The survival reaction or program in our subconscious kicks into gear to protect us from harm. And if “free” makes us cautious, when we consider something that for sure requires spending money we reach a whole new level of “protectionism” in terms of how we react.
Think of this the next time you make a presentation and your prospects isn’t excited about spending money.
Even the best opportunity and products in the world combined with real value offers may cause prospects be in defensive mode. And, from that perspective, we could offer it to them for free, and they would think of an objections!
A better presentation probably would not have gotten a different reaction. So that is not the answer.
So what is? Simple.
We could argue with them. We could tell them how wrong they are and how wonderful our products (or business) are. But I would not recommend it.
We could try to convince prospects against their wills. Ever heard the statement, “A man convinced against his will is of the same opinion still?”
How about if we agree with them? Now, that is a novel idea. Instead of arguing with them and trying to convince them that our way is better, we simply agree with them that our products, services and opportunity are too expensive.
Stop wasting your time with any other method.
Imagine what happens to the prospect when you agree with them. The prospect no longer fights us. The prospect calms down and is prepared to hear what we have to say next.
How does that work? The psychology of why people buy will help.
Most people buy for comfort, prestige and quality. Very few people buy based on cost.
How can we use that, and what can we say to the prospect that objects to cost? How about this?
— “It’s okay if you think our products/opportunity are too expensive. That is why I am talking to you now. I know you don’t want to spend the rest of your life buying things with coupons and at bargain basement prices. You want to buy things without thinking of the price that comfort you, give you prestige or for quality. Let’s talk and I can show you how these products/services/opportunities can help you.”
We have agreed with the prospect. We did not argue with them. We have not tried to convince them against their will. Now the prospect can hear the good things that we have to say.
You stop wasting your time when you agree with the prospect.
For reinforcing the point of the statement, you can add this:
— Ask the prospect, what is the cheapest car that they know of? Most prospects will say something like a Yugo. Whatever the prospect claims the cheapest car in their mind is, we ask them, “How many people do you know who own a ____?” And the prospect maybe will say, “one,” and most likely will say, “none.” Then you add, “See, people don’t buy cars based on cost. They buy cars for comfort, prestige and quality. Would you like to see more of what our goods/services/opportunity can do for you?” —
Next time you hear someone say stop wasting your time with me because your products are too expensive, simply agree with the prospect that they are expensive. And with a few magic words added, you will neutralize the objection.