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How to overcome objections and avoid discounting your price!

It’s Two Cents Tuesdays ep.1! Each week I’ll be answering audience submitted questions over on my YouTube Channel!

Today’s question comes from Vivian. She asks : 

“I’ve been trying to get less afraid of hearing ‘no’ when quoting a potential client and it’s kind of crazy how emotional it is when someone does say no. I have put so much heart into my business that it’s REALLY hard to not take it personally—which is why I’m trying to practice pushing through the no’s. I wanted to ask you a question about the whole “sticking it out for 3” rule. How do we actually do that? Like if a client says no that’s too expensive, what am I supposed to say to even get to the second no? Send a second email that says ‘well, this is why it costs that’? I’m afraid of coming off like I’m bragging, and I’m kind of lost on how to even get past the first no.”

Vivian is referring to an article I wrote entitled “How to charge what you’re worth”. In the article I shared about a sales tactic I was taught when I worked in finance – stick it out for 3. Or “overcome three objections” before accepting the no. It was terrible! We actually practiced overcoming objections by writing scripts and developing language. Here’s what I learned during those five years ….

BIG TAKEAWAY

If a potential say no to our price, (while yes, it’s about the price) it’s really because they aren’t associating the value of the offer with the price you are charging. So instead of second guessing our price, we need to determine WHY the perceived value doesn’t mesh with the price charged.

Here’s an example :

I wanted to buy some new leather boots for myself. I had budgeted $100 I think which was the most I’d ever spent on shoes. I went to my nieces birthday party and saw a mama there wearing the PERFECT pair of cognac military boots. I immediately found them on Nordstrom. The shoes were $200. DOUBLE MY BUDGET! I justified the PRICE because I perceived the boots were the solution to the desire/want I had. I doubled by original budget because these boots seemed to be the solution to my problem!

The reality is if they have already said “no” there’s not a lot of persuading we can do from there with that client.  Sales you have to fight for just never turn out to feel like wins! But we can learn from that “no” and better understand where our clients are coming from.

Three Strategies to Overcome Pricing Objections : 

1.   

Write down the most common pushback you receive.

  • If that is PRICE, then incorporate more questions about budget. Start talking about COST earlier in the process. 
  • Look at what point in your sales process the objection is happening? This can be a clue!

2.

Are they inquiring or not even starting the process?

  • If they aren’t event starting the process, this is most likely a website/copywriting issue. They don’t see you as the solution to their needs.
  • Or they just aren’t finding you, which is a marketing issue!
  • If they ARE inquiring but after you send a quote you are hearing crickets—it can be tempting to believe this is about price but often I find it’s a problem with your sales process!

3. 

   And a big one, do YOU have confidence in the price you charge? Do you know exactly why you charge what you do? That’s important. If you are letting that “I’m a fraud” mindset trickle into your sales process and already doubting the price before you hit send … your clients will feel that.

 

If you’re struggling to book your ideal client at the price-point you want—I put together a full class on this called “The Art of the Sale”. It’s available now in the Creative Money Academy.

THE ART OF THE SALE

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Hey! I’m Shanna, business strategist & financial coach. I'm here to help you make money doing what you love!

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  1. Diana

    August 22nd, 2018 at 12:18 am

    On a scale of 1-10 for how useful this video was, I’d give it a 15!! Such great advice, Shanna!
    I always thought the marketing and sales part of my (very new) photography business were just something “I’m not good at,” but honestly watching and reading your content makes me think maybe there’s hope for me too! Maybe I really can learn how to make sales. So glad I found you! (via Local Milk, btw!)

  2. Shanna Skidmore

    September 1st, 2018 at 6:32 pm

    Diana! Thank you SO much for the feedback! ☺️ I’m so glad you found the information helpful!! – S

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