Grace Under Pressure – 4 Killer Techniques For Handling Price Objections

by Tom Buford

Nobody likes to hear the word “NO”. We will do about anything to avoid it; including lowering our fees until we hear a “yes”. The problem is that this habit will put you out of business about as fast as anything else. It will also cause you to resent your clients and that’s no way to run a business.

So how do you handle price objections? Here are a few effective solutions.

1. Clearly establish value before discussing your fees

In your conversations, on your website, and in any other written form it’s important to always establish the value that you are offering your clients. You have to be clear on this before they can be.

When talking with your prospects don’t let the conversation get to pricing too soon. Make certain that they are clear on the value of working with you before you discuss your fees. It’s a great idea to get them to say out loud what your service is worth to them.

Here’s an example:

“If we were to work together and you were able to accomplish the things that we discussed within the time frame that we discussed, what would that be worth to you?”

It doesn’t get much simpler or more powerful than that.

Obviously, there is much more that goes into the sales conversation than one simple question, but this is where you want to take it before you start mentioning specific fees.

2. Don’t reduce your fees without removing value

There’s no need to feel pressured to reduce your fees just because somebody tells you that you are too expensive. The funny thing is that as soon as you tell a prospect that you are willing to reduce your fees but because of the lower price you’re going to have to remove “x” and “y” from the package you will see just how fast they find value in the entire package.

3. Offer multiple solutions for your clients’ problems

When it’s really a matter of affordability for your clients you are able to help by offering them multiple solutions. If they aren’t ready to invest in your private coaching, then they can sign up for your newsletter and join your next workshop.

Having multiple packages to offer your prospects makes the entire sales process much easier. Regardless of their objections, you have somewhere to put them.

4. Understand that sometimes you need to say “NEXT” and move on.

Don’t be cocky, but be willing to walk away. This takes a ton of pressure off of you just by having the mindset that whoever it is you’re talking to isn’t the last prospect on the planet. Remember, they need you every bit as much as you need them. There are about 5 billion fish in the proverbial sea. Don’t get hung up on one.

Sometimes you’re just not the right fit with your prospect. Never be offended or offensive. Just move on.

This is actually a powerful way to close a sale. People can’t stand scarcity. They insist on having things that they think they can’t have. It’s crazy, isn’t it? But you know it’s true.

When somebody sees that you’re willing to walk away and move on they suddenly see more value in you. You aren’t somebody who is begging for their business. You know that there is somebody waiting around the corner that’s dying to work with you.

When you allow people to push you into lowering your fees you are filling your business up with clients that you will soon resent. This is unhealthy and completely avoidable.

I know that it can be very scary, but take a deep breath, look them in the eyes and say, “It’s been a pleasure talking with you!” Then say to yourself, “Next!”