When Client Says, "Your Price Is Too High!” And You Say...
Вставка
- Опубліковано 28 жов 2019
- Learn how to handle the sales objection when clients say, "Your price is too high!”
Join the Ultimate Online Sales Masterclass Sales Legacy or Watch our Free 1-Hour Training: www.saleslegacy.com/
🔔 SUBSCRIBE to Patrick Dang NOW: / @patrickdang
Suggested Video - Clients Say, "How much is it?" and You Say... | Sales Objection & Objection Handling:
↪︎ • Clients Say, "How much...
Watch Our Top Playlist - Sales Tips to Close More Deals:
↪︎ • Sales Tips to Close Mo...
--
How many times have you found yourself in a sales meeting and everything’s
going well until you give pricing and the prospect angrily says “YOUR PRICE IS TOO HIGH!”
Now there can be many reasons for why this happens, so in this video, I’m
going to show you exactly how you can handle this objection.
Step #1: Is your price actually too high?
Evaluate whether or not your offer is fair.
Step #2: Understand why the customer feels the price is too high.
Don’t resist or fight back. Remain calm and let the prospect tell you what price they want.
Step #3: Make prospect feel confident in their decision to move forward.
If you can put a price on how much that is worth, then you can put it up against the cost of your product or service and it’s obvious why your thing provides more value than the cost of the thing.
The primary strategy here is to convince your clients that what you’re offering to the customer is “worth it”.
--
About Patrick Dang
Patrick Dang is an international sales trainer who started his career at Oracle in Silicon Valley and quickly became on the top performers in North America in just one year.
After gaining experience in both the enterprise and startup world, Patrick began sharing his knowledge of modern sales students around the globe.
Since then, Patrick has trained over 50,000 students across 150 countries on topics on how to start a career in sales, business development, lead generation using cold email and LinkedIn, cold calling, and sales skills.
Ultimately, Patrick's vision is to inspire others to make a living from their passions and provide the knowledge and tools to make it a reality.
🔔 Be sure to SUBSCRIBE to Patrick's UA-cam Channel
↪︎ / @patrickdang
#patrickdang #whenclientsays #salesobjection
Connect With Patrick Dang
Sales Legacy Masterclass: www.saleslegacy.com/
LinkedIn: / patrickdangofficial
Instagram: / patrickdangofficial
Tik Tok: / patrickdang
UA-cam: / patrickdangofficial
Website: patrickdang.com/
Facebook Page: / patrickdangofficial
Facebook Sales Community: / patrickdang
Overcome Objections with the 5A's Acknowledge, Align, Ask , Answer, Agree 👍
Love this video - the basics covered quickly and with relatable examples.
You're good! When a customer emails me that question, I don't respond. I don't want to know why my talents dosen't fit their budget. For that one person that does not pay, two other client's are more than happy to pay me. In my experience, the ones that “haggle” over pricing, are the ones that LOVE to complain about the service and how they paid too much.
Right. There is no worse thing than to give a "money-back-guarantee" to a haggler. You can be sure they will claim to be not satisfied and demand a full refund.
An abunfant mindset indeed
Facts
Great content Patrick! We get the "Your price is higher than company ABC" all the time.
I made homemade mini cupcakes and tried to sell them at work. When I said it was $10 for a dozen they said it was too expensive and they could just buy some at Walmart for cheap. Some people don't understand the time and effort to make baked goods, packaging is not cheap.
Hey Patrick! Great content as usual, glad to see you on UA-cam now. Good luck on this adventure and the content is great and well executed!
Hey, Jarry thanks for the support man!
Thank you for such great insight and your time, Patrick.
Patrick, you are truly amazing. Thank you for helping us out!
Hey man, thank you for making such organized, consise videos that get right to the point. You explain things so well and so simlly I already feel like I'm better at sales just watching you!
Me too! Now to apply the confidence. But that will come with time for me. Sales have been my biggest fear. And I’m able to finally face it because of this gentlemen and his simplified and articulate strategies.
Another amazing video from the one and only, Patrick Dang!
thanks!
Hey 👋 Patrick, got a very good knowledge and i was going through this objection but now i have got my answer and now in order to master that I've to implement. So thanks 👍 Patrick for this video.
Just found you ! and i love the great explanations clearly and quickly. I am in a service industry ( dance lesson studio for children and adults) could use help overcoming objections. 🎉😅
You help me a lot Patrick, currently working as project manager for internet service sales acct in BPO company.
All your videos help my team to increase our sales.
You're awesome !
That's great to hear! Thanks for watching!
3x ROI, I'll take it! I love your suggestion for how to respond to this question and that you also suggest potentially meeting in the middle because sometimes even when you sell your value, they still push. There are times I do however realize that the drop they are seeking is not worth the value that I know I am offering, so I accept that we are not a good fit, thank them for their interest and move on to the next customer that will see the value.🙊
Thank you so much for this. Very helpful. Keep it up.
Thanks Patrick!
You are very good Patrick!
Great video Patrick. A number of prospective clients say we love the look of your offer and are confident it represents value, we're committed on our marketing budget for the next X months, let's talk again then.
Thanks Alex. Sounds like you're getting some positive responses. Be sure to keep contact with your prospects. Good luck!
Amazing video, i wanna start doing this
Great as always
Thank you for the great insight
Hey man
That's a great video. Thank you so much.
Glad you liked it!
my price is high because:
I do not want to be competitive...I always strive to add value to your investment
I am not competitive, I am reliable and a credible, trustworthy partner who places you, the client on focus
My price is high because it's not weighed in kgs but has a book of patents on the product and that's what you are buying, a tailored high quality product and the total life cycle service.
great vid man
Hi I’m a Realtor and your great….Thank you
Thanks for your video Patrick. What books do you recommend for selling? I’m reading Go giver sell more and it’s awesome.
Love this video
Thank you!
You bet!
Thank you for your help! I keep having people say that my prices are not cheap/more money than they expected.
wow great value!
Patrick, I learnt a lot from your B2B sales course and implemented in our company
Here are some objections that we constantly facing
1- I will think about it or I will get back to you
2- Insecurity or Trust issue
3- Send me more information
4- Prospects ask for price/cost without disclosing enough requirement
5- I have many proposals with the same value but they are very cost-effective than you
6- I would prefer to work with local companies rather than overseas
If you could record detailed videos on above objections that would be greatly appreciated.
working on this. thanks for the suggestion!
@@patrickdang could you please add the link once you done
@@patrickdang can you include these in a playlist once produced? Thanks in advance.
Objections were in the form of ghosting or being very unorganized. I made a compromise by giving them a deliverable! Then, made my boundaries clear that this would not be my ideal customer to work with & gave an example of my expectations.
Some took corrective measures, others remained ghost 👻. But, they received a way to transform their deemed ‘poor’ behavior if they were to eventually have the courage to meet with an investor. I have constructive criticism, regardless if they made the booked meeting or not. Did my best not to demean their character or take it personally!
My price point was set & if it is high I delivered a powerful example of: “Showing up anyway if prospect client is not ideal”
I loved my pitch whether successful or not !
I work for a security company and one thing I get a lot of the time is I've been a long time customer and I wan't a free upgrade. The company I work for, not cheap, however they are know for there response time and safety devices. Other company's are cheaper on a month to month basis, but the biggest struggle I have is getting them to invest into another security system that has died due to age. 20-30 year tenured customers often refuse to purchase the equipment because either they see what offers "new" customers are getting, and some customers will say the competitor is offering a free upgrade. I would love to know how you may tackle these type of rebuttals, I love watching your videos and it has helped a lot. This is my first sales job.
I would agree with the advice you gave here, but I think where possible this "backtracking" and "reframing" should be avoided. It is much more effective to make sure the value is clear before any objections arise, there is always a percentage of people, especially in certain cultures, who once they make a statement cannot retract it.
I love your videos by the way, you have presented so much value and I appreciate you. Best of success!
Thanks for your input. I’m sure people react to different strategies depending on culture
Agree with you. Im my country theres nothing called word given. They will twist and change anything anytime. In some cultures they do respect ethics and time value etc. In my culture they will shamelessly ask for free work. Or they will tell you simply that hes doing it etc and after dragging you for 6 months giving you appointments etc they will just say they cant do it now. I stopped real meetings before this. Fuck them.....if they want they can discuss and finalize on the phone for the kind of pricing im offering....an entire 4K video production for 250usd and they want me to attend meetings. But they will book a wedding coverage guy without calling him for a meeting, who does nothing but show up with his camera and one or 2 lights and just raw shoot everything, and they pay him $350. LOL
great tuturial. what happens when there is no return on the money with more money, I mean I trace spyware in computers, so the only thing a client gets is a report with all the findings. How would you deal with objection to price in such cases?
Lots of values
It’s not a price, it’s an investment that you can acquire
I really need to know how to close the deals for virtual office, VISA services .
Can you help?
Thanks
Hi Patrick, i did find your video very useful. i work in service industry selling group coaching packages..the number one objection i get is the programme is really good and i wish i could do it but i dont have that kind of money. i dont know how to recover from that if they say they absolutely dont have the money..what would be some ideas for this kind of situation. Also how do u increase the perceived value of a coaching programme that increases self love/ confidence
Im a marketing sales rep and have successfully done well until Covid hit and the now most common objection is their business is down due to covid da da da or no money cuz of it etc
Why not show them how to boost their sales with social media.
Hey Patrick, thank you for the video. One of the major issues that I have recently faced is establishing credibility or building trust signals for a new company. I know the different strategies (website, SEO, social media, etc.), but is there a way where this can be accelerated? Thank you.
if you know specifically what you're looking for, I'd try to find a software (you'll have to pay) that have a database of this info already and export that list.
I sell intra oral digital scanners how do I sell to some one that says they already have a system. How do I convince them to replace it with mine.
Buddy make videos for Digital Marketing campaign
Obviously you don't want to get rid of it😮
I’m late to the game but you have helped me tremendously over that last week with cold calling and actually keeping people from hanging up on me. Lol
Im looking forward to mastering that along with those in person pop up prospect visits.
I will be very happy if the captions r added in English.
That's great feedback. We'll work on that in the future!
Have you ever exclaimed "you just got danged!" After a closing call? LMFAO I would.....
If you can't sell someone on your sales course ... Well ... Nuff said
When you say customer are talking about the company your gonna close deal from or regular clients on a call??
One my client shouted me for 3 dollars 😂😂😂
Talking to their spouse is one
if client say prices are high than expected and we say why do you think our charges are higher?
And client says there are some other vendors doing same service and they are cheaper than you
Then
What should we do steps:?
The objection.. 'I will get back to, I will talk to my spouse about it
I covered this already in a video, feel free to check it out.
❤️❤️
Thank you for this video it’s really helpful
I wanted to share with you my experiences with customers and i hope you can help me with this.
I’m a freelance model i get charged per hour and customers always telling me that my prices are high,when i know that it’s not true coz i know my value and what I’m offering.
So in my situation how can i respond to them without loosing the deal.
I'm sure I can help you with that.
Compared to what? Then show differences, features, and benefits.
What if we are selling the same products as many other companies but at a higher price. Yes we have many reasons why we are better but when the market is tough and driven by cost savings how do you get around that
Focus on your unique selling proposition.
I have to ask to my collegue or mate or eife or husband
Same bullshit here too. Just to yank his chain i told a stingy client last week, why doesnt he instead go for a motion graphics film as it would be dirt cheap....and i told him it would cost him only $30, like a social experiment. Just to understand if these fellows are just basic bottom feeders. I was shocked at the answer. He wanted to have a meeting with his peers and CLEAR it and if its ok then i can come meet them and convince his father who is the deciding authority. He will try to get me a meeting LOLLLLLL. WTFFFFFFFF ?????? And he was serious, not yanking my chain in return or anything. I wanted to burn my $2000 edit machine and my $7000 worth of shoot gear and open a tea stall....more direct profit.....lesser bargaining and dealing with self-entitled beggars like this.
Love from Bangalore, India..I have art channel... pls make a vedio on what if customer says it's too risky...or what if it does not work
A guarantee is a sure way to. Eliminate that objection, you telling them that you're gonna give them a money back guarantee shoukd things go south is a cool one.
At this point what your client is gonna see is that you truly believe in what you're bringing to the table.
Sekiiinroq gapir 🤦♀️🤦♀️🤦♀️🤦♀️🤦♀️🤦♀️🤦♀️🤦♀️
One way I like to price is asking what their current budget is and telling them what I can deliver based on that budget and they can decide whether thats something they wanna move forward with or not
That's a great way to get their budget!
I dont have enough money, My budget isnt sufficient - how can I handle those objections
They're most likely not interested. If they do they supposed to have a budget atleast, could be smaller but not 'I don't have '. They have money, just not interested or not convinced
Sure. Any anyone can build a website in a weekend.
It will be total shit.
But you could do it.
I can also perform DIY veterinary surgery on my cat.
Doesn’t mean it’s the best choice though, does it?
Yes this is a big problem. Due to UA-cam in general and telling people they can do it all themselves. Everyone thinks they are a video production company.....bec their cousin has a dlsr. And with the focus being on everyone at home doing AE and PR....their videos turn out to be shit quality..... but bec of misguidance they THINK they can and thats enough to ruin the market for true pros. Recently when i offered a client a motion graphics film for his business , he retorted "why do i need you for that, my iphone has that and it will do it on its own". WTF ??? These companies with their greed and also over competition are blurring the line between shit and sugar put together. Will an iphone app know where to cut what correct music to use for this business and think about his goals and what we should say in the video.....?????? The moron was probably referring to the auto slide show thing....and now this bullshit AI thing, as if AI can take decisions. Like producers will ask Micheal Bay to buzz off and their studio computer will create an original film if they just ask it nicely. Now bec everyone thinks they can do it.... its becoming a sad situation.
Looking to take your sales game to the next level? Join the Ultimate Online Sales Masterclass Sales Legacy OR Watch our Free 1-Hour Training: www.saleslegacy.com/
Is there any difference in sales VIDEOS contents between UA-cam and udemy platform ?
one frequent objection is something like: your price is too high compared to some other business or freelancer. and that's most likely true, though there are also more expensive guys out there as well. I feel like there's no point for me in trying to compare our value and pricing to those of others.
‘We don’t have the budget’ they see the value but hands are tied because of budget. Any strategy here?
"send me an email, if I'm interested I'll get back to you"
Using website development in your example of pricing too high, is a really bad example. A professional website cannot be built for 50$ in a weekend. You promoting such information leads to people thinking they can do it all and thus to mediocre websites.
Yes this is a big problem. Due to UA-cam in general and telling people they can do it all themselves. Everyone thinks they are a video production company.....bec their cousin has a dlsr. And with the focus being on everyone at home doing AE and PR....their videos turn out to be shit quality..... but bec of misguidance they THINK they can and thats enough to ruin the market for true pros.
I wouldn't buy anything from this dude because of his hair... I wouldn't be able to keep a straight face.
I speak to so many prospects and offer a complete video production and charge just $500 for it incl pre-prod (concept+storyboard) + prod (a van load of equipment with drone, sliders, lighting, 4k cams, lenses, complete 4K pipeline production, 1 full days shoot) + post-prod with shot by shot color grading. 15 days of work in total. They done want to spend...even though its a no brainer and every one in his business/competitor has a film. He says our portfolio looks great but this wont help him, he already has good business. So then we tell mom & pop businesses, educate them about video production and how its useful in the current age, they see our portfolio and love it, they acknowledge all their competition has an official profile film, they dont want one, so we give them a collab deal at just $250, they say they will get back and never do. Some say they have a film. They havent got around to using it,,, what a crock of shit.
This runs me to believe all these people im talking to, simply are running on fumes and dont have any money to spend, and they are filled with lies all the time, though sometimes i see starightfwd prospects saying they dont want it upfront. Why im upset is all these time wasters will drag you on for 6 months of CALL ME TMRW.....CALL ME ON THE 2nd WEDNESDAY OF THE THIRD MONTH FROM NOW.....CALL ME WHEN THE MOON IS WANING, as if he'll have money by then. A miser is a miser always.
Try offering a Mercedez to a poor fellow at $1000 even though its a killer deal he will say he doesnt want it bec he simply doesnt have even that $1000, he knows its a good deal but he cant afford that even.....so just giving value doesnt sell.
The above is how business rolls in my country....where they will openly ask you if you will do it for free.... as if his grandfather did so much for my grandpa that is should appease him now. I have only one solid grip in the creative industry.....every fellow i meet is a big liar. BIG freaking lies. Just straight Y/N and even a bugger off, we respect much better.
As an experiment i showed one prospect a well designed Mograph designed video and told him ill make the same for him, and just to shoot the breeze for fun....i told him $30 to make it. He asked me time, to discuss with management, the film is good but he needs approval from his family members, as his father is the deciding authority, and if his father agrees i can come for a meeting and CONVINCE HIM. .............WTF LOL !!!!! i wanna get out of this beggar country.
Like VNmesse