Eliminate Last-Minute Price Objections With These 6-Steps | #112
A couple of weeks ago, I was on a chat with a good friend of mine who I met in a mastermind.
“Joel, I’ve been following your podcast. I’ve been following your content on social media. And I’ve got a question because we are struggling and I was hoping that you could help.”
Now, this friend of mine is in the medical marketing business and he helps medical practices increase leads and sales and the whole nine yards.
“The problem that we have right now is that we’re wasting so much time with prospects who don’t have any intent to buy our services. Our sales calls are extremely time intensive. We go through an audit, then we have a second call with them and a full-blown strategy session. We go through all this effort, only to get turned down at the very end when we propose our price.”
This is a crucial topic for those of you who aren’t getting qualified leads coming into your pipeline.
I’m going to walk you through the process of how I would fix this guy’s problem.
In fact, it’s the exact same process I use for leads who come through our funnels.
There are 6 steps.
My friend was really struggling because he had all sorts of different price points and different services that he could offer.
And that’s not necessarily a bad thing, but his message and his promise to his prospects were extremely unclear.
The core thing I want to have in place is, number one, I want to have a very clear promise of what I can give my prospects.
This promise is what will pique their interest. It’s going to get them to say, “Yes, I’m interested. Yes, I want that.”
2. Unique Mechanism
The next thing that I want them to really understand about my methodology is I want to have a Unique Mechanism.
What is the thing that separates me from all of my competitors?
Why should they pay attention to me?
What’s going to get them to have their aha moment?
“Oh, that makes sense. Yes, I want to implement that unique mechanism into my business.”
I want them to buy into our unique mechanisms.
I want them to start to learn our branded language so they start to speak our brand and know what it is that we can do for them.
So after they understand the unique mechanism is, I want them to learn our methodology, the Perfect Expert Model.
Why do I use that unique mechanism to get my clear promise, my end result? Well, that ties into my methodology.
The reason why we do what we do, the big picture we’re working towards, is becoming the Perfect Expert.
If somebody wants to launch a high ticket program and they want to launch a course, and they are interested in my unique mechanisms…
“Let me explain to you why my unique mechanisms work. They’re part of this big methodology, which is the Perfect Expert Model.”
The next thing that we go through is the process.
What’s step one, step two, step three that they need to go through to really start to implement this?
And this is all stuff that people would have on a sales conversation if they were talking to an ice-cold lead.
In the case of my friend, he was only generating leads from an opt-in form on his website.
So, he would do some social media posting, they would search for him, go on his website and say,
“Oh, this guy does marketing. Let me fill out an opt-in form get on a call with them.”
So they were not educated at all on what it is that he does to get results for clients
This is why we educate them on our process.
“Step one, we map out your power offer. Step number two, we take that power offer and then we build that into a marketing message for the mini webinar. Step three, we then scale with a long-form webinar. Or we scale with lead generation activities.”
If you go and you check out my mini webinars, that’s what’s covered.
Because those are the steps that we follow to achieve the end result, which is launching a new program and launching it within 10 days.
The fifth thing that we do is we now qualify them.
By this point, they fill out an assessment form.
What do we need to figure out to know whether they’re ready to have a sales conversation?
The first thing that I ask them whenever somebody comes through my pipeline:
“Number one, have you watched my presentation where I go through all of this stuff?”
Because if they haven’t, I’m going to send them right back to the mini webinar to watch.
Remember, I want them to learn my language.
The second thing that I want to figure out what they learned in the presentation.
“What did you like about my process? What makes you feel this is the right process for you?”
I want them to sell me on why they like my unique mechanism, my methodology, and my process.
And I also want to know if they are speaking my language yet?
I want them to feed back to me the language that I put in the presentation.
“Oh, Joel, I love how you talk about the Tesla model. I love the descension model. I love power offers. I need a power offer.”
“I hate doing long-form webinars. So I need a mini webinar.”
Perfect. Now I know they’re in my language. They’re in my brand.
The final question that I ask them:
“Is this something you’re looking to take action on now or is this a later decision?”
Essential, because I do not want to waste anyone’s time, mine or theirs.
My offer today may not be the same offer that I have a week, a month, or three months from now.
If my prospect is not ready right now, it makes no sense to continue the conversation.
Any questions that I answered for them right now may not be the same answers that I give them when they’re ready in a week, a month or three months.
Sometimes they’ll say,
“Oh, well, you know, I’m just trying to explore. I’m trying to price shop…”
…or whatever, and that’s totally fine.
They can do whatever they want, but I’m going to end the conversation right there politely, and I’ll let them know my offer may not be the same today or a week down the road a month down the road.
And I ask them to come back to me when they’re ready and we’ll have this conversation then.
Because I want to give them the most up-to-date information.
6. Friendly Q&A
And so if they pass all of those qualifying steps, the last thing that we have is just a friendly Q & A chat.
I may even let them know some price ranges during the qualification steps.
It all depends on how the conversation is going.
Many times I do, and if I do, then we just have a friendly Q and A call.
But for my friend over here who was having a heck of a time with all of these long proposals and unqualified prospects wasting his time, it’s because he didn’t have these six elements in play.
He didn’t have a clear promise, a unique mechanism, a methodology, a process, and qualification. He didn’t have any of those things.
If he gets them in place, the enrollment conversation is much more efficient and it takes way less time.
Because then, he’ll get on a call and all they want to know is,
“Can you apply this for my business? Can you apply this to my situation?”
It’s that simple. It’s not easy, but it’s simple.
When you break it down into those 6 steps, your enrollment process becomes systematic and it becomes repeatable and it becomes predictable.
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