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HOW TO RESPOND TO PROSPECTS WHO THINK YOUR NETWORK MARKETING PRODUCT IS TOO EXPENSIVE
One of the participants in the Go Pro training we had with the beginners in network marketing asked me this question, “In a case where you go to market your business, after a long talk with people. The only thing that comes from their mouth is, your products are too expensive… how are we expected to handle such?
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So, are your prospects saying your product or opportunity is too expensive?
Or are they saying they have to save up the money?
I call it the the money objection!
Do you really want to learn how to absolutely deal with the “It’s too expensive” objection?
Then today’s training is specifically for you.
To start with, make sure the price objection is the real objection because sometimes people will use the price objection because it’s an easy escape.
But if it’s a sincere objection, you need to know how to handle it.
Above everything, the most important thing you need to have is a resolve to develop an unwavering faith in your business, products or services.
If you don’t have a strong belief in what you are doing and what you represent, then no matter what you say to your prospects they will sense that as weakness and make it hard for you to navigate through their objections.
However, there is always a way to overcome this objection. And that is, to determine what their needs, wants and desires FIRST before you present them with your cookie.
And your task is to help this person get past their road blocks without entering into a fight.
Here’s EXACTLY how I’d respond to this “it’s too expensive” objection.
The following responses to pricing objections allow you to acknowledge your prospect’s concern without immediately slashing your price or causing them to walk away.
You can put it simple to him. Simply say, “You’re right, it is expensive. It’s expensive and high value. High value because…” and then elaborate on the benefits of your product for the customer.
There are two important things here that make it work. First, the repetition of “high value.”
Second, the discussion of the benefits for the customer will only be effective if you’ve done your homework on the needs assessment of the customer, his motives, wishes, hopes, and demands. Otherwise it will fall flat.
But, let’s assume that your company is some kind of either nutritional, or cream, or shampoo, or something like that.
I would just say:
“You know what? There’s cheaper stuff out there. But honestly, the chemicals that they put in those are quite dangerous for you. So, if you’re not going to get this kind of quality product, I would suggest, save your money. Don’t buy those other products, because they’re bad for your kids, they’re bad for you.”
That’s another response.
Another example is this,
You reply with, “Really? How are you coming to the conclusion [product] is too expensive?”
This prompts the prospect to break down their reasoning.
Once you better understands the specific concerns behind the sticker shock, they can more easily address them.
You can also reply with, “I hear you. The best products are often more expensive.”
According to sales expert Geoffrey James, “a price objection isn’t ‘real’ until the customer has brought it up twice.”
Using this response the first time you hear “it’s too expensive” can help you separate the prospects who truly don’t have the budget from those who are merely kicking the tires.
I can also say, “Let’s say money was no object. Would our product/service help solve your problem?”
A fast track back to value.
I will wait a bit, then ask again, “Will price keep you from getting what you really want?”
You’re not calling them cheap outright, but you are raising the question in their minds.
And no one likes to be cheap, especially when their business is on the line.
Alternatively, this will reveal if your product or service isn’t the ideal solution for their problem.
There are lots of formula to get around this kind of objection.
I learnt another reply from Zig Zigglar, the famous salesperson and trainer.
It reads, “[Prospect’s name], I would rather apologize for the price today than for the lack of quality and your unhappiness forever. Now, let’s not let a few dollars keep us from doing business together.”
It reminds your prospect skimping on price will hurt them in the long run.
However, if your prospect is still adamant in not seeing that network marketing is a legitimate, honest and fair business model, or that your product is the best for them having use any of these responses, then just let them go and wish them all the best.
You don’t need to convince anyone for anything and you don’t NEED any one person to join you or buy your products.
There’s abundance of people everywhere who will be able to see a great opportunity in your business, products or services.
If you’re currently fumbling through objections like this one, then you’ll deﬁnitely want to go over again to study today’s training very well.
If this training has been helpful to overcome the price objection, leave your comments below and share with your friends on Facebook!
P.S.: The Feedback on The Cold Market Prospecting Formula has been awesome click here to check it out.
I hope this is helpful to you?
Let me know what you think in the comments below. And, feel free to share this with your teammates.
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well said sir…thanks for always educating us