How To Respond When a Client Says You’re Too Expensive
Is it a question of price or value?!
Sales objections are inevitable. And your job as a salesman is to convert these objections into opportunities.
You shouldn’t expect prospects to pay you $50,000 without asking a single question. This may happen in your dreams, but not in real life.
If you want to sell high-ticket products, you need to learn how to respond to these objections like a pro. Especially the price objections.
So what to say when a client responds “You’re too expensive”? Should you panic and offer a discount?
No. That’s not how expert salespeople do.
The first thing to do in this case is to find out if the prospect doesn’t see the value of your product or simply because he doesn’t have the money.
“Is it a question of money or value?”, you ask.
Let’s do a quick role-play:
Client: “Your product seems interesting to me. But how much does it cost?”
You: “Thank you! I’m glad you like it. We usually charge between $50,000 and $80,000. How does that sound to you?”
Client: “$50,000!! Wow, that’s too expensive. I’m sorry, I can’t pay this amount of money”
You: “I understand that this amount of money may seem a lot to you, John. But I just want to know something, is it a question of money or value? A question of money means that you don’t have the money to buy our product. A question of value means you have the money but you think our product is not worth the price. So which one of these?”
Client: “Well, in this case, I think it’s a question of value. I mean $50,000 is a lot of money for a marketing service”.
You: “Let me ask you a question, if I tell you, I have a brand new Ferrari for $50,000, do you think this is expensive?”
Client: “No, I think that’s cheap. Because a Ferrari is worth a lot more money than $50K”
You: “A Ferrari won’t make you more money. You buy it and let it sit in the garage or just drive it for fun. You won’t get a positive ROI from paying $50K on a Ferrari. On the other hand, we promise to double your investment in 6 months or work with you for free until we do. So you invest $50K today and you double it in less than a year. Can a Ferrari do that?”
Client: “No, a Ferrari can’t do that”
You: “Exactly ;)”
*Drop the mic* 🎤
In this role-play, we’ve demonstrated how to shift the focus from the price to the value. The client’s initial objection was based on their perception that your product or service was too expensive for what it offered.
Your job as a skilled salesperson is to transform that perspective into one where the client views your product as a premium offering.
One way to achieve this is by crafting irresistible offers that potential clients can’t refuse. Consider guarantees like a money-back promise if they don’t achieve a positive return on investment after investing in your product or service.
This assurance demonstrates your confidence in the value you provide.
Additionally, word choice matters. Rather than asking clients to “buy” your product, frame it as an “investment.” If you’re selling a marketing service, emphasize the potential returns and benefits they’ll gain from this strategic investment, making it clear that they’re not just purchasing a service but securing a valuable asset for their business.
By mastering these techniques, you can effectively navigate price objections and turn them into opportunities to showcase the value and benefits of your offering, ultimately closing more high-ticket sales.
Remember, it’s not about the price; it’s about the value you deliver.
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This objection is one of 50 objections I covered in my new book: “Closing the Deal: Your Comprehensive Guide to Tackling 50 Sales Objections”. You can get your free copy from here.
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