The price for inbound marketing services varies from agency to agency.
The Pricing Gap
No matter if you are charging $2,500 per month or $40,000 per month the price objection is one you will face often.
How inbound agencies overcome price objections can vary as much as the price discrepancy above. In this episode we are going to break down how to overcome the objection we hear all the time.
“What am I actually getting for that price tag.” Which seems to go hand-in-hand with “You’re too expensive.”
What They Are Actually Saying
This is an objection that comes toward the end of the sales call. The needs addressed, the goals explained, the process explained.
When you hear this objection it means one thing. You missed something.
The value of your services were not conveyed well during the first part of your call(s).
Let’s talk about how to handle it.
Handling Both Objections
Objection One: What do I get for that price tag?
If you have a points-based or deliverable-based pricing, like PR 20-20 the answer is simple. Show them what they will be getting for the price. Do it in such a way that you are conveying value based on uncovered needs from previous conversation.
If you do not use deliverable or points-based pricing you need to take a different approach. Now it’s time to have a “how the world works” conversation.
You: “We discussed the plan of attack and you said that you agreed it’s the right course of action correct?”
Mr. Prospect: “Yes”
You: “And I’ve shown how it’s helped other companies achieve their goals. If that achieves your goals, it’s well worth the investment, right?”
Mr. Prospect: “If we hit the goals sure.”
You: “Inbound marketing is like other investments. There are no 100% guaranteed outcomes, if there was we would be charging 10X. You’re getting a discount for the risk, and that’s how good investments work. Is there an alternative option you have been considering?”
The better your sales process becomes the less you will begin to hear this objection. The only way to prove value to to have a complete understanding of the prospects pain. Build your process around extracting that pain.
Objection Two: You’re too expensive
I’ll keep this one short and sweet. There will always be a cheaper agency than you.
There is one question I ask every time when I get this response.
“Do you always make your purchasing decisions based solely on price?”
If the answer is yes, run.
No one can answer yes to this. Take a look at their car, house, clothes etc…
You need to turn the conversation to value. If you will get more from the investment than what you put in price should never be a factor.
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