How To Deal With Objections To Price

How To Deal With Price Objections

Over on Twitter I was asked about dealing with objections to price. The scenario given (as I read it) is that this person is getting a lot of views and people clicking through to the offer, but then people aren’t buying the offer. They’re assuming that this is due to the price of the product.

Now, there are a lot of different factors at play that could be the answer, but we’ll take it on face value and assume that the reason for the lack of conversions is that we’re not mentioning the price and then people are clicking through and getting a shock.

It’s fair and it’s a problem a lot of people probably have. Here we go.

How To Deal With Any Objection

My general rule is that if you can think of an objection a person might have to a product, then you should mention it. You should, in fact, anticipate it and dispel the issue before their mind has a chance to raise it.

How do you do this?

Sandwich objection-deflections in between other benefits. Do not address them where people will expect them.

So when you’re talking about the cost of an item, don’t throw in “yeah it’s expensive but it’s good.”

Instead, when you think, “It’s price is an objection people will have” pre-empt that thought earlier on in your text. For instance, “This item is made from rare materials that are hand crafted in Milan… not fabricated out of plastic in some Chinese sweatshop.”

You haven’t mentioned price in the above statement, but you’ve dispelled the objection; of course something handcrafted from the first world is going to cost more than something machined together in a factory in the third world.

This objection technique works with anything from the weight of the item to the delivery time of the service and on.

Essentially, preempt the objections and dress them up as something wonderful.

Look at Ferrari cars. Those things suck up fuel, make a ton of noise, can’t be left anywhere and cost a fortune to maintain. What’s more, you have to go on a two-year waiting list to spend more money than the average person earns in their career to get one.

Yet plenty of smart, rich and successful suckers volunteer for that headache, and in the marketing, every one of those things is something that makes those suckers go “WOW I need that headache in my life!”

Let’s Talk About Price Specifically

The price of an item isn’t the price. Every pound that your reader spends on the product you’re selling is an investment in a future where they no longer have the problems that plague them now.

That’s the psychology of it.

In terms of the written word, you need to mention the price. It’s a key detail, just like the size, shape and colour of your product. People want to know it. But linguistically you treat it as an aside. Remember, you are not talking to people who can’t afford your item or otherwise aren’t going to buy your item. They are not your target market.

Here’s an analogy.

Think about something affordable that you do where price is a sort of concern but it’s not the end of the world or something you’re petrified of.

Imagine going for pizza with your friends. Now, your friend rings you up and says, “Hey, we’re going for pizza Friday night. It’s that new place. Are you in?”

Think about your objections and questions. You’re probably going to ask about the price, and your friend will say, “I don’t know, but it’s about $20 a pizza.” That’s how he’ll mention it, and you’ll think “It’s a bit pricey” or “That sounds cheap” but you’ll weight that bit of information like all of the others; “What time are we going?” or “Do they serve booze?” or whatever.

That’s how you frame price if you’re talking about a realistically priced product. Having pre-framed it like we talked about above, mention it and move on.

A Quick Formula To Deal With Pricing For Extravagant Products

Alright, let’s say you want to sell the Ferrari of your niche. It’s expensive and you can’t be bothered to learn all the upper complicated stuff. You want a simple template that’ll help you frame your price in as efficient a way as possible.

Here I am to grant your wish.

Here is a seven step template to bring up some extravagant price:

1. Mention some extravagantly costed thing that’s tangentially related to the product and frame it as the price it could be (e.g. Some pro sportspeople pay millions for cars they have to wait years on a waiting list to get a hold of.)
2. Mention the value of the problem being solved. (E.g. if you can’t sleep, then it’s costing you years of your life, you’re less efficient at work (good luck getting that promotion!) and your wife is going to leave you for the milkman because you’re keeping her awake all night in a bad way.)
3. Price of the item. (This item could be yours for $50… the price of a night on the town.)
4. Re-iterate the target market. (It’s a fantastic deal if you’re a single mom who loves yoga and wants to be able to eat pizza guilt-free.)
5. Call to action (E.g. buy this at Amazon and get it tomorrow morning.)
6. Add a super guarantee. Even if you don’t have a particular one. (IF this product doesn’t help you make a million dollars by tomorrow, then I’ll eat my socks!)
7. Final benefit unrelated to price. (By the way, there’s free shipping, the product also helps ease congestion and they throw a free kitten in the box too.)

There we go… as easy as it gets.

Final Thoughts

Price is a key factor in selling any product. But you sell people on the idea as though the price were an incidental fact in the grand scheme of their life… and let’s face it, unless you’re selling them a house or some other ting they’ll spend the rest of their life paying off, that’s true.

I mean, if you spend $500 on a really expensive pair of shoes, it may or may not be worth it, but it’s not going to fundamentally  change the course of your life, despite being well into the “luxury expenditure” category for most people.

Remember, people who can’t afford your product are just like any other people who aren’t in your intended market. Don’t spend all of your time begging people who don’t want to buy when you could just be laying things out for your actual target market.

There are three ways to address the issue in this article, and if you use any of them, you’ll do well. If you use all of them, you’ll convert a lot of people.