How To Overcome Price Objections
There’s nothing more frustrating than having a client throw up an objection that you weren’t expecting and can’t overcome it. Instead of convincing them and pushing them to make a decision take this approach.
If you sit down with enough prospecting clients for your studio you are going to get a ton of objections about why some people can’t start. It can be frustrating if you aren’t prepared with the right tools to combat those objections.
Your first instinct may be to fight back. Push, pitch and convince that individual to sign up and give them a laundry list of reasons for why this is the best thing for them. Or you may get confrontational thinking you can strong arm the prospect into buying.
Even if those strategies work in the short term they rarely end up resulting in a happy long term client.
I’d like to offer you a different solution. A new approach to overcoming objections, specifically price objections.
Simply ask more questions…
Here are the questions you can ask to overcome the objection you’ll face in your fitness business.
“This is too expensive…”
The goal with your questioning strategy for this objection should be to uncover the real issue (it’s rarely price) and then handle it.
Let’s start with these questions…
“What else might be concerning you about starting?”
This question allows you to acknowledge the price issue but also directly ask if there is something else really holding them back. Throwing up a price objection is an easy out for prospects who don’t want to really tell you what’s up.
“I understand. In fact, I had two other clients just like you who were uneasy about price at first. But what they found out was…”
This strategy doesn’t involve a question but rather removes you as a the salesperson and use a 3rd party to convince the prospect to make a buying decision. This shows that you empathize with the prospect and shows them the benefit of starting.
“What will it cost you to change nothing?”
This question has to be delivered in a nurturing, not critical, manner. Show your empathy and concern for them not doing anything and staying in their current state. Be curious to know what they think instead of using this as a way to make them feel bad.
“What is too much/too expensive?”
This question can be used to figure out your next negotiating step. Figure out what they think is too much and what you could use as a secondary offer to get them to take action.
“Okay, so which part of the program would you not want?”
If you are able to remove aspects of your program, such as bonus nutrition coaching or extra days of coaching, you can work with them on price to figure out something that they can afford and still get results. This may be positions as “Okay, so would you rather do without the 3rd day of personal training or move to our small group training”
“Price aside, do we have the service you want to buy?”
This questioning strategy allows you to see if they really think you can help them or if they are just being nice by throwing out a price objection. If you have the service they want and that they think can help them you can work with them to find a solution.
“It may seem expensive by month, let’s break it down to the day.”
Again, not a question but rather a strategy to help them make the investment seem more manageable. Your $300/mo program doesn’t seem so bad when you think of it as $10/day. You don’t want to use this as your first attempt to overcome the objection, make sure you smoke out any other issues first.
“Cost is an important consideration. What research have you done on what a typical investment for a service like this would be?”
You can use this early in the process, such as during a Discovery Call to qualify the prospect when price comes up. If it is done during your sales consultation you can uncover how your prospect is evaluating your prices. If they have only researched typical gym memberships or a low cost group training program you may be able to clearly explain why you are more expensive and how that benefits them.
Close More Sales
Using the questioning strategies in this post you will be able to close more sales and overcome frustrating objections. To help I’d like to give you free access to our Surefire Closing Scripts. Simply enter your info below to get instant access.