When someone says they can’t afford your products/services that doesn’t mean you’re too expensive.
After all, what’s expensive to one person might be as cheap as chips to another.
So when someone says ‘I can’t afford it’ what they really mean is you’re too expensive for them right now or they’re not convinced they’ll get a return on investment.
The best time to deal with the ‘I can’t afford it’ objection is before prospective customers even raise it.
Here’s some tips on how:
Make sure your price matches your audience
When a prospective customer says your products/services are too expensive, it can make you feel you’ve got your pricing wrong. Rarely is this the case.
It may just be you’re pricing too high for prospective customers you currently have in your audience. This is not a pricing problem – it’s about matching the right products/services with the right audience.
You have two choices: attract more of the kinds of customers who can afford you or introduce a different product/service that meets the needs of the people you currently have in your audience (and is priced appropriately). Or you can do both.
Create content that explains your prices
YOU know how much time, expertise and money goes into creating your products and services, but your prospective customers don’t
Taking the time to educate your audience on how your products/services are created and the impact they can have can help a lot.
When someone queries the price of my event tickets, I can send them to this blog post which explains how much it costs to host a live event (including the breakdown of costs for my own).
I can also send them to this review of Soulful PR Live which includes real testimonials and post-event blogs from delegates.
Once prospective customers understand what’s involved – and the potential return on investment – they’re in a much better position to make a decision about whether to buy a ticket.
Show them how to raise the money
When a prospective client says they want to work with me, but can’t afford it, I direct them to a blog post like this: want to attend a conference but don’t have the budget?
A number of clients have told me they’ve used one of my ideas to raise the cash to buy my course, join my membership or attend one of my live events (or reading the post has sparked on of their own).
Accept that not everyone is your customer
However much you try to help, there are some people who will complain your prices are too high and ask for discounts and freebies. These kind of people generally don’t value your work and don’t make great customers. Accept that not everyone is your customer and focus on attracting more of the kind of people who are.