Here’s What to Do.
In our last post, we covered the money excuse and the difference between features and benefits. We also touched upon the art of overcoming objections. Now, we’ll continue with more on objections, outcomes, and effective techniques.
The Art of Transforming “No” into “Yes, Please!”
If you want to overcome the money excuse, you’ll need to adequately define the value you’ll add and what payoffs your client can expect to receive.
This is a subtle technique and there’s absolutely an art to it, but once you master it, you’ll discover it’s easier than ever to transform a “no” into a paying client.
To get started, pretend there are two islands: The Island of Today (where your prospect is at right now) and The Island of Full Potential (where your prospect wants to be). The Island of Full Potential is a representation of what your prospect wants to achieve, create, or become.
Between these two islands is an expansive ocean – and you are the vessel that is going to take your client from one island (Today) to another (Full Potential) – in other words, from where they are now to where they would like to be.
Outcomes Are What Counts
One of the most important factors to remember is that your prospect doesn’t really care what the boat looks like – he just wants to know what the outcomes are:
- What are the tangible outcomes (more sales, an organized house, a healthier body, etc)?
- What are the intangible outcomes (higher confidence, less stress, more energy, etc)?
As business owners, we tend to go into the details that don’t matter as much to the prospect as the actual outcomes – we tell him every little detail about how we’ll provide the product or service, but we don’t put outcomes first – how will that client’s life, business, finances, or relationships transform through working with you?
Of course, it’s important to explain “how” you’ll work together, but it should be a much smaller part of the sales conversation. Remember, your prospect isn’t paying for the “how” – he’s paying for results – the action that is going to get him where he wants to be.
Your prospect doesn’t want to think he’s spending money on things like time, plans or calls – he wants to know what results – what outcomes – he’s paying for.
The Technique in Action
Remember to emphasize benefits when you’re speaking with your client, and to avoid using words like “cost”, “fees”, or “price” – these are trigger words for spending and buying. You want your client to see this as an investment in herself – in her dreams, goals, and ambitions.
When you highlight the value you’ll add and the return on investment your client will receive, your services become an investment in your client’s future – not an expense she can live without. This subtle shift will motivate your prospects to see you in an entirely new light – and increase your chances of closing the deal.
The most important thing to keep in mind is that no matter what happens, hearing “no” from your prospects is not a reflection on your value – the value you bring as a human being.
Want some more in-depth insight to help you conquer the “Money Excuse”? Visit the Huffington Post to read my recent article.
Share your opinion: If you’ve put the techniques I explained above into action, what results did you see? How do your prospects respond when you approach them more with the benefits and outcomes rather than just a rundown of “how” you’ll provide the product or service?
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