“I Can’t Afford It” is a Crock | How to Find Buyers that BUY!

By On · 17 Comments · In Marketing

Crock of what… I’ll leave it to your imagination doll.

So… have you ever had a client or potential buyer say ” I can’t afford your (services/ebook/product)”

Of course you have, everyone has if you are in business. Even better is the classic trying-to-negotiate you down, like “well why not do it for half off” or “how about I pay you X now and X later”. Take it from me start ups and new entrepreneurs DON’T DO IT. If you start allowing people to bump down the price of what you are offering you’ll enter a losing game. The only people that excel at ‘price cutting’ and still make a profit are giants like Walmart.

(that little gem is brought to you by peopleofwalmart.com one of my favs :)

So what is the average entrepreneur to do when their key market starts saying “I can’t afford it”…

either you are being ridiculously pricey (which is rarely the case) or you need to say “see ya later” and find a new (wealthier) market.

Note: by ‘wealthier’ I mean if you sell $37 ebooks & your target market is 15 year old boys you may want to move on up to the working demographic of 18 year old boy-men. No matter what you sell, there is always those who can afford it, can’t afford it and those who will bitch regardless. Let me give you an example from my own personal hell…

I build websites at www.OracleLaunch.com that and create social media marketing campaigns for companies, the business is new, less than 6 months but we’ve had some great clients like www.bikiniwaxing.com and others who rock. I have an amazing team of designers and such who do all the coding etc and I am the ‘sales team’ thus I get to deal with all the potential customers. For every meeting I have that is good I have two where the client wants a deal or for me to do it for free. What is funny is I’ve noticed this trend when I’ve sold eBooks, on eBay & in many other venues.

So can they really not afford it? Hell no!!

Or… Hell yes (they can afford it). When I sell a $37 ebook & someone says they can’t afford it I want to ask “did you get a latte today?” or “do you EVER buy anything except rice and beans?”. 10 times out of 10 the person means “I don’t want to afford it” or “I am stuck in such a negative cycle even $37 seems like a mountain”.

So from now on when someone says “I can’t afford it” don’t argue with them, don’t hassle them just say ‘ok’ and leave it at that. If you are freelancing or selling your service and someone even hints that they can’t afford you run to the hills (rocking Iron Maiden song by the way). Instead only woo the people who can afford it, or better who choose to afford it.

If your potential customer is serious about whatever your niche is they will buy.

They will scrape and scrimp until they can… and they will get incredible value from whatever you produce. When I first started out online I signed up for Sterling & Jay’s Internet Business Mastery program this course wasn’t cheap but was one of the single best investments I’ve ever made since it truly opened my eyes to the possibilities of internet business. I could have easily said “I can’t afford it” because I was right out of college & in the middle of a new business start up off line but because I’d developed a relationship with them via their podcast on iTunes I was eager at the chance to learn more.

So what is the secret sauce to finding customers who can afford it?

  1. Build a relationship with them first (i.e. blog, podcast, youtube video series, consulting)
  2. Create a product or offer a service that has incredible value to them & helps an urgent pain (i.e. a bad web presence, not making enough money, getting skinny, fixing a relationship)
  3. Craft an offer they can’t refuse.

There is of course much more that goes into it, but each small business is different and you’ll have to find out your special ingredients to successful salesmanship on your own. Read books by expert salesmen (i.e. Zig Ziglar or Dan Kennedy) and take a great salesperson you know to lunch to pick their brain.

P.S. You can apply this to yourself as well and tell yourself “I’ll never say ‘I can’t afford it’ again” instead from now on ask How can I afford it? instead. This changes a negative thought into a positive one and sharply redirects your thinking into money making endeavors.

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  • http://subject2.com Nick Johnson

    Amazing post Maren. All of your points are so right on point!

    I'm a real estate investor through and through, I do have an e-book about a specific strategy that I excel in and it amazes me that those that say they can't afford it or want 'FREE' mentoring are the same ones who have never succeeded or will never succeed at anything!!!

    I don't waste my time with people who have no interest in improving their current position. Even if I gave it away, it would go to waste so you must buy. I do quite well without the sales of the e-book so those that don't want to, I don't lose any sleep over it.

  • http://experimentsinpassiveincome.com/ Moon Hussain

    Maren,

    Entertaining post. This is the bottom line: “If you potential customer is serious about whatever your niche is they will buy.”

    Also, if a page is trying too hard to push a sale, it automatically turns me off.. or when I see sale price and regular price, meh.

    I don't think step 1 is necessarily true: “Build a relationship with them first (i.e. blog, podcast, youtube video series, consulting) “

    It honestly depends. If you do some research with Google Keywords Tool, you'll see people who use “buying phrases”. I believe if you do it right, you can give the customer what they're looking for. I'm new, so we'll see ;)

  • http://twitter.com/bluepop13 Eric

    You said it.

    This is very true and a great way to build a relationship and actually get people to buy your products. I'm not going to talk here and instead will just happily agree with you because I do agree here.

    I also like what you said about not saying: I can't afford. Instead say: How can I afford? This does put a positive thought in your head as well as asks the ultimate questions which opens your mind and puts your brain to work to figure out a way to get what you're after. Once you have it, you'll see it was possible and that opens even more doors.

    Who knows how far this could go.

    Great post. Re-Tweeting now!

    P.S. CommentLuv on sites isn't working on my blog right now. My latest blog post: http://bluepop13.com/2010/01/25/lets-help-each-…

  • http://subject2.com Nick Johnson

    She uses Disqus so that may be why you're not seeing CommentLuv.

  • http://www.blogandlearntoearn.com/ Robert Love

    I totally agree Maren, marketing on price alone gets you into price wars and all sorts of nonsense. Look at the Apple model, they aren't cheap but have built u a hugh following and built relationships. Do that and you can set you own prices within reason.

  • TheInfoPreneur

    Really timely post this Maren,

    I'm in the position of monetizing my site and I'm really battling with the price to sell it at. Some part of me says cheap will sell loads, but slightly dearer will make more money but sell less?…

    What do you reckon oh wise one?

  • http://www.Escapingthe9to5.com/ Maren Kate

    Its true! I just went to get my iPhone's stupid glass fixed it was $200 bucks! Does it cost Apple even a 7th of that for the parts & labor? No. But they can charge it because I love my iPhone & will pay for it. Good point Robert :)

  • http://www.Escapingthe9to5.com/ Maren Kate

    I'll check your post out :) I dig your site. I do hate it when people complain about not being able to afford something, instead focus on HOW not WHY you can't… much better mood it puts you in and a better thought path to success.

  • http://www.Escapingthe9to5.com/ Maren Kate

    ooooh… I am so lost about both commentluv & disqus :( I am hopeleslly a technologically disabled.

  • http://www.Escapingthe9to5.com/ Maren Kate

    I guess you are right, though building a relationship makes the sale much, much easier. But you have a point, if they want what you offer bad enough… regardless if you are a newcomer to the game or not they will buy & buy big.

    Cheers!

  • http://www.Escapingthe9to5.com/ Maren Kate

    That is a good idea in real estate Nick, because with your line of work you could waste countless hours driving around with people, talking on the phone etc. and if they won't buy you just gave away ALOT of free consulting!

  • http://www.Escapingthe9to5.com/ Maren Kate

    It depends though, also I have heard to put off monetizing your site as long as possible (Via the likes of Yaro Starak & such) but I am unsure about that idea.

    I always say either go cheap, or go premium. The middle ground is for the masses. So either make it insanely cheap for the value of the product or set it at a premium price and watch as people will value it more in their own mind because its expensive. Like the eBook 'desperate buyers only' talks about (check it out by the way! Its 77 bucks but TOTALLY worth it).

    Let me know which path you take & tell me if you need a review for a testimonial I love reading other people's stuff.

  • http://www.writingforyourwealth.com/ Lindsay

    Nice post. I'm in the IMBA, too, though I haven't logged in in ages, heh, whoops. ;)

    I think there's a lot to be said for creating a product people really *want*. Even during a recession, people will turn off a few lights around the house to save money but still buy the Caribbean cruise.

  • Maren Kate

    I try to log in every week and make a few comments, I notice it helps drive extra traffic to my blog too :)

  • http://UAdPost.com/ AL

    This was a good read thanks so much

  • http://UAdPost.com/ AL

    That was a good read thanks so much!

  • http://www.Escapingthe9to5.com/ Maren Kate

    It is so true Lindsay :) its all about perceived value for consumers!