The Power of Handling Objections
If you’re selling something, then your prospects are already figuring out reasons why they shouldn’t buy it. These are called objections.
Common objections include the following…
The price is too high. Here the person may be able to afford the product or service, but he still thinks the price is high compared to the value you’ve demonstrated.
You can fix this by demonstrating more value (sharing benefits) and clearly stating your USP (unique selling position). You can also specifically give people a reason why the price is so high.
For Example: The price for this inner circle membership is higher than what you’ve seen elsewhere, because we only want serious business owners in this elite group.
Top Tip: Want to see how to justify high prices? Then start reading ads for luxury goods and services, such as Rolex, Mercedes, Bentley, Armani and similar goods. In most cases, you’ll see the price justification is based around their branding and USP.
The price is too low. Low prices are sometimes equated with the product or service being “cheap” or “junk,” so this objection makes people wonder why you’d price the item so low. That’s why you need to justify low prices, too.
For Example: I know what you’re thinking – this price is crazy low! You might even be thinking something is missing from this package.
Nope, you get the FULL course for a fraction of the price.
It’s because I want to make this course affordable to everyone. It’s not fair if only rich people can afford this course. So for a limited time you can get this course for a song – but hurry before this special offer ends!
I can’t afford it. This objection isn’t that the price is too high, but rather that the prospect is thinking he shouldn’t spend his money on that particular item right now. Sometimes that may be true. Sometimes that’s just an objection you need to handle because it’s nothing more than an excuse.
Justify the price. A good way to do this is to compare it to other activities or products which show why your product is a good value.
For Example: If you hired a ghostwriter to create this report, you’d pay at least £750 for it. But if you’re one of the first 100 people to act now and get a PLR license, you get full rights to this report for £50. You can’t afford to pass up this steal of a deal!
Another example is to point out how the item is comparable to some small thing the person regularly purchases.
For Example: You get this complete report for the price of a small pizza. You won’t find a better way to invest £9, so click the order button below now.
I’m not sure if it will work for me. For this objection you simply offer a guarantee (AKA risk reversal).
For Example: I’m so confident you’ll love this product that I’m willing to back this offer with an iron-clad 100% money back guarantee. If you’re unsatisfied for any reason whatsoever, simply email me and I’ll promptly issue a full refund… no questions asked.
So you can see how this works. Be sure to handle those common objections you just learned about. However, you need to take it a step further: you’ll need to examine your specific product and figure out what people might object to so you can handle those objections as well.
Next time we’ll talk about using the power of scarcity…