How Do I Handle This Money Objection?
This week's question from my portal “The Neagle Code: Directions for Life” comes from someone who wishes to remain anonymous.
In a recent sales call, I quoted my price for coaching. The woman (who is a therapist) said, “That’s a little more than what I thought it would be.”
I asked her what she was comparing it to. She said she wasn’t sure, because she hasn’t ever looked into hiring a coach before. How do I handle her objection?
The question I would ask her is, “What did you think the price would be?”
If she says she has no idea—and she’s also saying the price is higher than what she thought it would be—those two statements are completely incongruent.
When someone is concerned about the price, it’s because they’re comparing it to something.
When someone says anything related to the price—e.g., “I’ve never spent that much money before,” or “That’s too expensive,” or, ”I don’t know if I could afford that,” you’re witnessing—in real time—someone making a psychological comparison to something else in their mind.
And they don’t even realize they’re doing it.
This is how the brain works. If the subconscious mind doesn’t have experience purchasing something for that amount, it compares it to, “Well, what else have I done in the past? What else is familiar to me within this pattern?”
It engages a pre-set pattern. But generally, the pattern has nothing to do with the output. It's just trying to keep the person safe.
If she tells you what she thought the price would be—that’s where she’s doing the comparing.
Most people who haven’t worked with a coach before are comparing the coaching to counseling or therapy.
Here’s what to do…
The idea is to get her focused on the result, the value of that result, and how important it is to her.
It’s never about the money. It’s about how much the person values the result.
I’d say to her, “Listen, if you absolutely knew you’d get the result…would the result be worth what I’m asking you to pay?”
If she says yes, you say… “Then it’s not about the money. It’s about… are you willing to commit to doing the work, to get the result?”
How do you guarantee that a person will get the result? Do you have to make a guarantee? It depends on what you do.
When a person hires me for coaching, I guarantee they’ll get the result if they do the work. I tell them, “If you do the work—if you do exactly what I tell you to do—I guarantee you’ll get the result.”
That’s the only way I can guarantee it. Otherwise, I have no guarantee.
If I’m selling you a toaster, I guarantee it’ll work if you plug it in. If you don’t plug it in, I can’t guarantee anything.
It’s about being responsible TO the client, not FOR them.
You can guarantee how you’ll be responsible to them. But whatever work they have to do on their end, you can’t guarantee that… because they’re the ones who have to do it.
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