Wednesday, July 10, 2013

"It Costs Too Much"

"I'd love to but I just can't afford it."

"I'm pretty sure that I can get it cheaper somewhere else."

"I'm sorry but it just costs too much for me right now."

Anyone who has been in network marketing, or any kind of sales for that matter, for more than a few days has heard dozens of variations of "It costs too much." Is that the end of that sale? It all depends on how you respond.

The first thing to realize is that for most people "It costs too much" almost never really means that they think it costs too much. Instead, they are telling you that you have not communicated the value of your proposition to them clearly, or that there is information they need to make a decision that you have not provided. When you hear the cost objection, your job is to uncover the real issue(s) and resolve them. If they really just cannot afford your product or service, why are you still selling to them? You should have uncovered that key fact in your qualification process.

Once the cost issue has been raised, you need to probe deeper to uncover the real concerns your prospect is raising. Two things you should definitely not do are offer a discount (aka, lowering your income) or get into an argument over whether or not it really does cost too much. Instead, do what you always do whenever an objection is raised in the sales process. Empathize and establish that you understand their concern, maybe shared it at some point, and certainly do not dismiss it. Then get to work asking questions until you have the information you need to address their concern(s). Here are a few that you might find useful.

"Yes, I completely understand. Let me ask you, if the price were not an issue for you, is there anything else that would hold you back from getting involved with the program today?" Isolating the issue this way will often uncover the real objection.

"I understand. Tell me though, in today's market, what would you expect to pay for a product that would .... " Refocus them on what they are getting for the investment, the value they will receive.

"Yes everyone is concerned with controlling cost these days. Have you considered what it might be costing you to not give this a try?" Presumably the are speaking with you because you've indicated your product or service will solve a problem they are dealing with. What is the cost to them of not eliminating the problem?

"Where does this fit with the rest of your important priorities?"  If someone wants something, they can usually juggle around their priorities to get it. They may not have even considered that getting involved with your product or service might save them effort or time or money in other areas.

The important things to remember are:

1. "It costs too much" probably doesn't mean it costs too much if you have qualified your prospect.
2. Empathize! Let them know you really do understand the financial concern.
3. Find out what they really want and re-focus the discussion on how your solution will get that for them.

"It costs too much" is just another bump on the path to "Yes!"

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