OK, so truth be told, there’s no such thing as a 100% sales closing rate, right?
BUT, if you’re getting a LOT of people telling you they can’t afford it, it’s time to look at what may be going wrong.
Not only that, you’d want to be sure you’re not falling into the trap that too many business owners fall into when they hear those words dreaded words, “I can’t afford it.”
In this video, what NOT to do when they can’t afford it and 3 things you CAN do. Enjoy and feel free to share your thoughts as well.
Hi Allison, I found your video on “what to do when they can’t afford it” very helpful.
I have current experience with people who I know personally wanting me to create a gift basket for them and I ask them what is it that they want the basket to convey, they tell me and I tell them a price and they are shocked! They basically say that they can’t afford that or that the price is too much. I run into people who want a lot, but don’t want to spend alot.
So, I then ask them what is them what is their budget and I can create something around that, but I understand after watching this video, I know that I have great valuable and quality gifts( personally created and drop shipped), but do not want to turn them down. How do I turn them down, if they are not my type of client?
Hi Coletta,
If you feel like you’re OFTEN running into folks who are telling you can’t afford it, my first suggestion would be to take inventory on people who DID buy from you. Profile them. That may be your hungry crowd of buyers, and it’s best to spend time talking to THOSE people instead.
You’ve got a great question here which inspired me to create a separate Q&A video that I think will be very helpful. Keep an eye out for next week’s video of the week titled “Do this when your prospect is not a fit.” Hope it helps!
Hmm, interesting take on this subject. It is true, the potential client has to understand the value. I think this is good to understand as well because, for me, I ask the client to do “homework” and if you have invested–you will be more diligent in doing the work which will lead to measurable results. Love your confidence and great tips and knowledge share, Allison!
Lynn
Hi Allison,
Thank you. I really enjoyed that and agree with all your points.
To me the key thing is have those with ‘high’ prices got the confidence you have to believe that their prices are the correct ones.
Best wishes and keep aiming high,
Nina
These are very powerful questions; Are they your ideal client? resonated with me. Perhaps the clients that don’t understand how you can add value for them are best left alone. By negotiating your price downwards, you undervalue your product and undercut yourself.
There are many reasons why a client will say NO to your offer and “I can’t afford it” is by far the easiest. Sometimes, people have a different reason, but they are afraid to tell you what it is. One way to get beyond this, to find out if money is really the issue, is to ask “If you had the money, would you buy this today?” If they say No, then you have an opening to discover what the real issue really is. Likely, you made one of the mistakes that Allison mentioned — not listening, not speaking to the value, or simply talking to the wrong kind of person. Great advice.
Two elements of this video really resonated with me. The first: if we have done the work to be sure we are offering our service/product at a reasonable price, then the rest is up to the potential client. The second: If they are saying no (ie. they can’t afford it) then perhaps they are not yet ready to hear our message. This is not always the case, but can be at times. Of course, there is always the time when they actually can’t afford it, and then that does always send us back to think about how we can create products to reach many.
Thanks for posting!
This video is so great! I also have found that if I spend a little time thinking about the customer and listening to them, it’s far easier to uncover the real reason they say they can’t afford it. One of the perks of running my own coaching practice is that I can wheel and deal if I want to. When I find a client who honestly wants my services, but can’t afford it the way I’ve packaged the payment(s), we negotiate a payment plan that does permit them to. They’re usually so grateful, they get even more out of their program than they thought they would.
Allison great insight to an issue that so many businesses face. I am so thrilled you shed light on the fact that it is not our place to decide how they need to address their money issues. The value of what service or product we deliver comes intrinsicly from us first and then when we are confident that confidence will allow us to share value for them. It was such a lovely reminder that money is never really the issue. Diving deeper to determine if we are even a right fit for a potential client is huge.
Thanks