Are You Getting Money Objections Right Now?May 06, 2020
Before we jump in, I wanted to just remind you that it's okay to do things on your own terms and at your own pace. Because even if you’re spending all you’re time at home, everything that is going on in the world can the energy out of you in a different way. You may feel this pressure to keep up with what everyone else is doing.
But it’s also a reminder that even if someone looks like they're always on point, always doing all the things that you don't know about the support system they have behind the scenes helping to make it possible for them. Or they could just be a workaholic who’s always in hustle, hustle, hustle mode.
You can have the business that you want on your own terms. And you can do so much right now. But you can also take time to chill.
Let’s get into it!
Are you Getting Money Objections?
Money objections can be rooted in a variety of reasons, but it usually boils down to one of two reasons - or both!
Money objections based on fear can come from a fear of the unknown, fear of investing, fear of doing something that's outside of the norm.
Money objections based on not seeing the value can come from not seeing the value in the transformation or not seeing the value in what you're providing.
People might not know you yet, they don't trust you yet, or they don't necessarily believe or trust in themselves yet.
How many times have you said you were going to do something and then you didn’t actually do it. Your audience or potential customers are feeling the exact same right now. Questions like, what if I don’t show up? What if I don’t do the work? What if it doesn't work this time? You are likely facing that a lot right now. Regardless of the reason, money objections are real and money objections happen.
When you're overcoming money objections, the goal is not always just to get people signed up. The real purpose is to help people make the decision that's best for them. Whether that's working with you or not.
Of course, we get excited to work with someone we KNOW we can help, but sometimes that’s not always what’s best for them. So what we need is an alternative solution to get someone started or ready to work with you in your higher price point offer.
How the situation normally plays out:
Them: “It’s too expensive/I don’t have the money right now.”
You: “Okay, I'll follow up with you next month.”
If you know their objection is genuinely motivated by money, either based on fear or based on not seeing the value yet, what if you could offer a way to get someone started so that you can continue to nurture them, continue to build the relationship and continue to build their trust so that after 30 days of being in your container and being in your community, they're ready to upgrade to that higher challenge pack offer.
Sounds pretty awesome right?
If you have something that they can sign up with at a significantly lower price point, not only are you working with them, but you're actually being compensated for it.
That my friends is what I like to call a Ghost Proof Downsell.
It's called a downsell because you are introducing your primary offer, but if you’re met with objections that you just can’t overcome the traditional way, but you’re still able to give people who are ready to work with you an option that’s better suited to their needs.
Once they start working with you at this lower price point, they begin to have wins and they start to see the transformation. Then they begin to have belief in themselves and belief in you and your framework, which leads to them being ready to upgrade to your original offer.
Remember, often it’s not a genuine affordability issue, their objection extends from fear or not seeing value. With your low price point offer, you’re able to overcome both.
The Ghost Proof Downsell is just another strategy to help you serve your audience. serve them well and serve them right now.
You want to get them started while they’re excited and ready to work with you. If you wait 30 days to reach out to them again, you’re not building a relationship with them, they’re not working on their goals and their priorities might change.
They’re coming to you right now for a reason. They’re ready to get started and it’s your job to support them.
This downsell method is also an amazing strategy for client retention. If you have many different containers of support that a person can go through, not only are you able to help them straight away, you’re also able to have recurring revenue as they stay with you for longer.
For example, Beachbody coaches, you can take your customers through a 3 step customer journey, starting with your downsell, they move into challenge pack and then they move into your coaching team.
You're able to serve their needs in each of those levels. They’re able to see what it's like to work with you. If they move through all 3 steps and start to coach on your team, they’ve seen exactly what you do behind the scenes and they have so much more insight and skills when they start to coach. You’ve provided them with a solid foundation and you’re able to cultivate leaders while being compensated through the process.
Creating this flow and this system for finding leads with ease, is how you go from being a hobbyist to a CEO. Because CEO’s have systems, they don’t just fly by the seat of their pants or wish or hope something is going to work.
This is exactly why I want to invite you to my Ghost Proof Downsell Masterclass this Thursday, where I am going to teach you exactly how to decide, create and sell your Ghost Proof Downsell and my best tips and tricks to upgrade them to your package once they go through your downsell.
You can start serving more people, making more revenue and feel like a boss because you will have a system that you can duplicate for months to come!
If, for some reason you’re reading this after the 7th of May 2020, the good news is you can also sign up for the replay, which will be sent to your email immediately!