Fee Barrier - Six Easy, Yet Powerful, Steps To Breaking Through The Fee Barrier

Donna is the owner of a home décor business, who came to me seeking help in closing the sale.She had recently lost a sale due to her fear in presenting her fees. Donna had met with the prospect several times, uncovered their needs, answered questions, handled objections, presented a proposal, and discussed pricing. She thought she had done all the right things. It was now up to the prospect to make a buying decision.

After a few moments of silence, Donna thought, “Does the prospect think my fees are too high?” Feeling uncertain with the fees she had presented, Donna quickly said, “You may think my fees are too high. I’ll draw up some less expensive plans for you to look at.” As soon as the words fell out of her mouth, she realized the impact of her actions.Donna’s uncertainty about the fees had gotten in the way of closing the sale. She now created more work for herself to do and lost the opportunity to close the sale in that moment.

Donna’s fear of presenting her fees had stopped her from getting the business. Sound familiar? It’s not uncommon to question whether the fees we’re offering are within the range of what the prospect will pay. So how do you avoid this from happening? It starts with asking the right questions, knowing your benefits, powerfully communicating the value of your product, and presenting different pricing packages. Here are (6) simple, yet powerful steps to follow that will help you break through the fear and give you confidence when presenting your fees:

1.Asked money qualifying questions either before the meeting or early in the meeting. Serious prospects don’t mind hearing money questions. They expect to be asked these questions. Unqualified prospects run when they hear these questions because they’re not serious about buying. Here’s an example: “So I know we’re in the same ball park, approximately how much were you looking to spend?”

2.Make a list of the benefits your product provides for your clients. A benefit is a result or solution the client receives from using your product. As you create your list, you’ll begin to get clear on all the ways your clients benefit from using your product. Present the benefits your product provides during your meeting. Here’s an example: “By adding window treatments to your home, the value of your home increases.”

3.Make a list of the benefits your clients get from working with you. Of course, the benefits of the product are important, but so are you. In fact, most sales are based on the relationship you’ve developed with the client. Present the benefit your clients get from working with you during the meeting. Here’s an example: “All clients I work with receive personalized service from the start of the job, to the end of the job.”

4.Write the results clients have received from working with you. Think in terms of measurable results clients have achieved. This will instill more confidence as you become clear on the value you bring to your clients. Share with the prospect the results clients have received from working with you. Here’s an example: “My client had no idea where to start with decorating her home. After working with me, she selected a window treatment that suits her living style and a fabric within her budget.”

5.Communicate the value of your product. Practice saying aloud what the value of your product is and how it helps your clients. Hear yourself speaking with confidence, clarity, and from the heart as you communicate the value of your product. When you clearly understand the value of your product and can communicate it with ease, the fear of presenting your fees disappears.

6.Create several pricing packages your clients can choose from. Start to think of different price ranges and programs you can offer. Creating different pricing options, gives the prospect a choice and helps make the selection affordable. They’re more apt to buy if you offer low, medium and high-end products.

ASSIGNMENT:

* Make a list of 4 money qualifying questions, 4 benefits your product provides, 4 benefits your clients get from working with you, and 4 results clients have received from working with you.

* Read over the lists so you can confidently state the questions, benefits and results the next time you’re meeting with a prospect.

* Role play with a buddy steps 1-5. The more you practice, the more comfortable you’ll be next time you present your fees to the prospect.

* On a sheet of paper, create 3 different packages ranging in price from low (basic program), to medium (super program), to high (deluxe program).

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