Every person who sells anything gets told sooner or later that their product or service is too expensive, even if it’s not. Yet I’m amazed at how many people think they can’t sell their product just because people say, “The products are too expensive.” Find out how to overcome this price objection below.

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Is Your Product Too Expensive For Most Prospects?
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Is Your Product Too Expensive For Most Prospects?

Every product or service is too expensive until the price is justified.

To justify means to demonstrate sufficient reason for (an action).

If you were to simplify what your job really is in selling your M.L.M Company’s product or service, it would be that you are justifying the product/service’s price. If you fail at justifying the price, your prospect walks away. If you succeed at justifying the price, your prospect buys the product.

The process of justifying the price of a product or service is to demonstrate or give reasons that the prospect will benefit from using or owning the product or service. This only works if the reasons are valuable to the prospect!

And how could you possibly know if the justifications you’re giving to the prospect are valuable to them? You can guess…or you could ask them “Why would you want _______?” Thus, the Inviting Formula.

A simplified version of the Inviting Formula is: Greet the prospect, find out what they need or want, invite them to look at something that will help them get what they need or want.

As an example, let’s suppose I sell supplements that cost $100 per month. Everyone knows you can buy supplements at the drug store for $10 a month. So I would have to justify an extra $90 expense - if I do they will buy the product - if I don’t they will buy an inferior product.

So, after greeting the prospect I would ask them why they would want supplements. NOTE: This is just one example; I’m sure you’re wondering how I get into the discussion of supplements in the first place. I’ll share some of those strategies on the conference call. This is just an example so you understand the process.

In my conversation with the prospect I ask them why they take supplements - they respond, “Because I don’t eat very healthy.” With that statement I could now do whatever type of justification I wanted as long as I keep coming back to “because I don’t eat very healthy.” Why? Because that’s what is valuable to the prospect.

I could explain the importance of the pills dissolving so the prospect actually gets the nutrients. I could take some of those $10 supplements and drive them into a board with a hammer to demonstrate the difference in tablets and capsules - I could do and say many different things but they (the statements and demonstrations) must help the prospect with, “because I don’t eat very healthy.” That’s the only way you will justify the prospect paying for the extra value.

As a matter of fact, I hired a research firm to ask the general public WHAT IS THE NUMBER ONE REASON YOU TAKE SUPPLEMENTS? And, WHAT IS THE NUMBER ONE REASON YOU DON’T TAKE SUPPLEMENTS? I did this so I would be better at helping people overcome their resistance to paying more for supplements and overcoming their resistance to start taking supplements.

During my research I found many people took supplements for the very reason I used above (”because I don’t eat very healthy”). That’s why I put a picture of an x-ray that shows whole supplement tablets still in a person’s intestinal tract in a brochure I use to help me sell supplements. It proves there is no chance the person would get one dime’s worth of value from using supplements that don’t dissolve.

By the way, you’re welcome to use this brochure. It’s called “What Do Vitamins and Minerals Do For Me?” and it’s a follow-up to another brochure called “Why Do I Age?…Get Sick?…Get Diseases?” They really help!

The above example is just one - but don’t get lost in the example and miss the point. The point is - you are in the justification of price business. You don’t start justifying your price until you know why they would even want your product or service.

Join me on the upcoming conference call (info on the date and time is below) and also, please reply to support@getleverage.biz with any questions you have on this topic as well as any experiences you’ve had in handling or justifying the price objection.

With admiration,

Tim Sales

This entry was posted on Thursday, July 19th, 2007 at 12:16 am and is filed under Online Business, Internet Marketing, Millionaire Mindset, Direct Marketing, Networking, Nutricueticals, Health, Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.