PRACTICE CORNER FROM THE
BY MICHAEL ROZBRUCH
How to Destroy Client Objections Over Prices and Fees — I Don’t Like to ‘Handle’ Objections; I Like to Obliterate Them! It’s important to understand that people can always afford you; it’s just a matter of priorities. Sometimes our prospects don’t comprehend the seriousness of their problems, and we have a moral obligation to help them prioritize solving the problem. Sometimes it takes a frank conversation. FollowThis Simple Formula: ACOC (Acknowledge, Compare, Options, Close) When a prospective client brings up objections such as “I can’t afford that,”“That’s way too expensive,” or “If I had that kind of money, I would just pay the IRS,” the first thing you want to do is acknowledge the prospect by saying, “I understand.” Then, proceed with, “Listen, I get it, this is a serious investment, but what I’ve proposed here is a solution to a serious problem that will change your life.” Compare your lifesaving offer to a life-and-death situation: So, if the price tag is your primary concern… let’s be clear with one another. A lot of people who say they can’t afford it or who can’t find the money are not being truthful. They’re well-intentioned, but being less than truthful nonetheless. So, if you’re saying you would hire me if only you could afford it, you need to listen very closely. We can get started today for $x,xxx (30 percent of total case value), which of course is nothing to sneeze at. However, let’s say if instead of retaining me for $x,xxx, you found out you needed to have a lifesaving medical procedure tomorrow, and the price of that operation was $x,xxx (the same amount of the retainer you are requesting). Would you say, “Oh, I can’t afford that; I’ll just suffer and let it get worse until I’m too far gone?” Of course not. Now, discuss the potential options your prospect must decide on:
So, let’s get rid of the myth of whether or not you can or can’t afford it. Here’s the real question: Are you willing to do what it takes to make this investment or not? As you sit here today, you have three options: The first option is to do nothing. Doing nothing just doesn’t leave you with the problem, it makes the problemworse the longer you do nothing. So that’s not it. The second option is you can do something else with the money … but why? You know and I know that what I’ve laid out in front of you as our plan of resolution is the thing to do to protect you and your family and to permanently resolve this matter once and for all. And that’s option number three — just do the right thing. Here’s where you “ close .” Yes, the money may be tight. Yes, this may be a stretch. Yes, you’re going to have to go out of your comfort zone a bit, but have you considered the alternative? That’s why you need to stop being less than truthful to me, and more importantly, to yourself. Just do what needs to be done right now so we can quit messing around and get down to business. I can get on the phone with IRS today and get you protected from their aggressive collection tactics.” These simple steps will ensure that your close rate will soar when dealing with objections to prices and fees.
–Michael Rozbruch
888.670.0303 • 3
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