When "It's Out of My Budget" is Code For "You're Too Expensive"
The process to onboard a new client goes something like this:
- Client reaches out to you about your services.
- You send them a self-assessment to determine if they're emotionally & financially prepared to invest.
- They are.
- You get on a call with them to talk details.
- You send out a proposal or contract.
- There's pushback, "It's out of my budget."
What do you do?
Look, it's not that you're too expensive. It's that...they don't see the value, yet.
We've all been here at some point. Matter of fact, it's not too long ago ---I was here. I didn't freak out. I just knew I hadn't properly shown the value. It is our job as service providers to show how our service solves a problem.
In these scenarios head back to the drawing board. Pull out your notes from the initial call or assessment and figure out where the disconnect occurred. Then reach back out to get clarification on their concerns, fears, or reservations.
Then paraphrase their concerns, highlight the benefits, and walk them through how their life will be different after investing with you. Keep in mind, as you speak one or all three of these questions will linger for the client.
MONEY: Will this save me money in the long run?
ROI (Return on Investment): Will my situation improve?
SOCIAL ACCEPTANCE: Will I be able to brag about my results to my friends/colleagues?
Communication is key in these scenarios because it could be a variety of reasons why the deal went sour:
- A client may not have shared all the details of their problem
- A client may have said one thing but meant another
- A client may need to answer to a higher up and isn't the decision maker
- A client may be shopping around for the best rate
- A client may have thought you would be nice to have but your service isn't a need at the moment
- A client may not fully understand what they're buying & how their situation will improve
If you put yourself in your client's shoes and play out what they may be thinking, you'll quickly begin to realize, they're very much excited to improve their current situation but at what value?