4 Ways To Remove The "That's Too Expensive" Objection

4 Ways To Remove The "That's Too Expensive" Objection

1. Contrast Frame
2. Overwhelming Value
3. Overwhelming Support
4. Guarantee

Contrast Frame 

If you buy a BLT (Bacon Lettice & Tomato Sandwich) for £1 is that cheap or expensive?

That depends on what you are comparing it to, right?

Can you make a BLT for £1 at home?

Yes… and No!

You can if you want to live like a student. If you buy the cheapest white bread. The type that sticks to the top of your mouth with every bite…

If you buy the cheapest tomatoes. The ones that are as hard as a golf ball and as tasteless as tap water…

If you buy the thinnest sliced unsmoked bacon, (which in my book shouldn’t even be considered bacon)…

… Then yes you can make a BLT for £1.

Now…

Let’s do the same calculation with Tesco finest ingredients!

Can you make a BLT at home for £1? Absolutely not, right.

What about if you shop at Waitrose? Not even close!

So, is a BLT for £1 cheap? Yes. Is it worryingly cheap? Yes.

After all, there’s no such thing as cheap food. It may have a cheap price but what is it doing to your body... and that’s a debate for another day.

For something as simple as a sandwich, it’s easy to make a price comparison with “like for like”products.

But…

What do you do when you can’t easily make the sort of comparison?

Your ideal customer may instantly label your training, mentorship or consulting as expensive because they don’t have a frame of reference.

When you give your prospect a frame of reference you can make a large investment irresistible.

Is your training, mentorship or consulting cheap in comparison with the school of hard knocks? Yes, absolutely!

How many years of study has it taken you to get where you are today? For me, it’s 9 years of formal education and street-smarts learning that’s been combined with straight from the trenches practical experience.

How many thousands of pounds have you invested in yourself to get where you are today? I’ve stopped counting because it’s no longer relevant. Let’s face it, it’s not like you’ve stopped investing in yourself, right?

I’m investing in myself all the time and I’m shocked and delighted that what I once thought was outrageously expensive I can now happily pay for training.

How many costly mistakes have you made to get where you are today? This is how you sharpen your blade, right? By being forged on the anvil of life. This is what makes your coaching, mentorship and consulting so valuable.

Once you frame the price of your product or service as a way to skip a decade of dedicated learning… thousands in education and self-improvement… and the guaranteed way to avoid costly mistakes then any price will look tiny.

What other comparisons can you make that your prospect can immediately accept as true?

What about the cost of a degree or an MBA?

A degree is £9,000 a year and takes 3 years for you to become proficient. Even if you charge £5,000 for a weekend of your time, you are still saving your customer £22,000 and 3 years of their life!

Yes, they don’t get a piece of paper that proves to the world that they are intelligent at the end of the workshop… you give them something much more important. The ability to silence the doubters with success when they use your proven system to achieve their desired results.

This is how you can change your prospects reaction to the investment from That’s too expensiveto That’s good value.

Overwhelming Value

Is there an agreed upon standard of size, quality or duration in your market?

For example, if you buy a can of Coca-Cola then you know it’s going to be 330ml

Other soft drink manufacturers sell their products in the same size can. So it’s easy to make a price comparison.

So how could you deliver overwhelming value?

Do what Pepsi did when they were trying to climb back into the soft drink market. At the time, Coca-Cola was sold in a 6-ounce bottle for 5 cents. Pepsi was sold in a 12-ounce bottle also for 5 cents. Pepsi offered the greater value, right?

What if you’re selling information. How can you increase the value of your workshop over that of your competitors?

By offering additional resources to help your customers succeed faster.

An example of this is a sales letter. If you’re teaching someone how to write a sales letter you can easily talk for 2-days about the process of writing a sales letter and the copy assault course that they must do before sitting down to write.

And…

When you give them your sales letters as examples then they can see how the different elements fit together. They can see that they have to continue the persuasion process for much longer than they thought necessary and they can see that the word count is nothing to worry about. What’s most important is to tell a thrilling tale and make an irresistible offer in a conversational way.

By giving them a ready-made swipe file you are helping them succeed faster and giving overwhelming value.

Overwhelming Support

This is the easiest way to help your customer get results… and a powerful way to remove the “that’s too expensive” objection.

You see, when someone says that’s too expensive they may be saying “that’s more money than I’m prepared to risk”

In other words, they don’t believe that they can achievethe promised results. So their objection immediately goes into the “that’s too expensive” box.

However, if you walk with them for a given period of time you remove this objection because they know that they are not going to be left to fend for themselves at the end of your course.

By giving your customers overwhelming support you are helping them to change their lives! Their success enables you to live your mission in every possible way.

1. You live your mission emotionally because you are delivering on your promise to change other people’s lives
2. You live your mission financially because these people will happily buy from you again because they know that you helped them dramatically improve the quality of their life
3. You further live your mission financially because walking success stories are the best salesmen you could ever employ. Those word of mouth referrals will instantly buy because they have seen with their own eyes the change that you can create.

So be outrageously generous with your time and support because it will come back to you many times over.

Guarantee

An outrageous guarantee can instantly remove the money objection in the prospect’s mind.

The most outrageous guarantee that I’ve ever seen (that made me buy on the spot) was this:

If you buy my product and don’t think it’s cool, then all you have to do is let me know and I’ll give you a full refund and you can keep the product as a thank you from me just for giving this a try.

Wow, right?

Would that make you buy?

Let me tell you, I bought that product and fully intended on returning it just to test the guarantee. I wanted to know if the entrepreneur was really going to follow through on such a bold statement.

However, when I got the product it was so good that I couldn’t return it. My conscience just wouldn’t let me.

So…

Do you believe that you can create change in someone’s life? Do you believe if enough to put your money where your mouth is? If so make an outrageous guarantee because it will increase your sales.

What about refunds?

You don’t have to make the guarantee as outrageous as the one I gave you. As I’ve already said, this is the most outrageous guarantee I’ve ever seen.

The purpose of the guarantee is to make your ideal customer feel good about buying. So, there’s nothing wrong with putting some conditions on the guarantee such as you’ve got to do some work!

How do you know if your guarantee is outrageous enough? If it makes your heart begin to race and it gives you sweaty palms then it’s outrageous enough.

By putting some conditions around an outrageous guarantee you protect yourself and make your ideal customer feel good about buying.

Now It’s Your Turn 

You now know 4 ways to remove the “that’s too expensive”objection when you are making your offer.

As you’ve seen this is much more powerful than a simple sales gimmick. This is a process to help your customers succeed faster… and in the process, you help yourself.

Aren’t we all looking for a Win-Win in business and in life?

This process gives you and your customers a Win-Win in business and in life.

Please use this process to improve your offers, grow your business and help your customers success faster.

If you have found this useful then please leave a comment below.

If this can help someone you know then please share it with them.

Until next time…

Carpe diem

Roland Eva

P.S. if you’d like to learn a proven system build or grow a training, mentorship or consulting business then you need my new book: How To Start A Training Or Mentorship Business.