Sometimes my students end up in the frustrating place where prospects can’t afford their programs. This is a tough spot to be in and there are a few things that might be contributing to this situation. When I hear this, I recommend three tweaks to their get acquainted session and closing process.
1. Stop Teaching During the Get Acquainted Call. When you aren’t converting enough prospects in the get acquainted call, I ask if the person is “teaching.” Some people, in their desire to help, actually end up coaching on this first call and giving away their knowledge for free. That doesn’t work so well. Once a prospect has what he or she needs, why would they sign up to work with you? People walk away satisfied, having gotten what they need and as a result they don’t become a paying client. To attract more clients, you have to giving away your knowledge for free.
2. Ensure Prospects Answer Prep Questions Prior to the Call. There are a number of questions prospects need to answer before the get acquainted call, preparing them to talk to you. One of the questions I always asked was, “How much is one new client worth to you?”
Let’s say the value of one client is $1,000. Next I asked how many clients they have (let’s say two) and how many they need (let’s say 20). Then it’s clear the gap is 18 clients at $1,000 each – that’s a gap of $18,000 right? My program was $2,000, so prospects could see the cost was far less than the $18,000 they needed. Or another way to look at it is that the cost of my program could be covered with just two new clients.
You’ll want to apply this to your own closing process. Perhaps you’ll ask your prospects what is the value of good health to him or her? Or what is the value of finding true love? Whatever they say, your program is probably less than that. You might say, “Well my program is only $1,000” which conveys how affordable it is.
A Third Tweak Might Be Needed. Now, if you make these two tweaks and prospects still can’t afford your program, a third factor may be present. You might not be networking in the right place for your ideal prospects.
Even if your prospects have all the qualities of your ideal clients, but can’t afford your offerings, they are not really ideal. To attract clients who are ideal, change your marketing materials to say, “I work with successful women” or “successful business owners” – whatever your target audience is. It may sound harsh, but you are doing them a service by not wasting their time or yours.
Your Client Attraction Assignment
If you encounter a lot of prospects who can’t afford your services, rethink where you are networking. It’s also not enough to go to monthly events. You are more likely to fill your pipeline and attract clients when you join a weekly group focused on providing leads.© Copyright 2014 Fabienne Fredrickson