When it comes to closing the sale, you’ll encounter many types of objections.
One of the most common is “You’re too expensive.” This is a completely different objection than “I don’t have the money.”
When a prospect raises the objection that you’re too expensive, they don’t want to be taken advantage of.
This is an objection where a person doesn’t want to pay over what they think they should pay. They just want to feel that you’re going to be taking care of them by providing the value (relief) they are paying for.
So, how do you answer this objection? Well, you first agree and affirm: “Yes, this is a substantial investment of money to resolve your matter.” In terms of tax resolution work, you also state that their case is going to take 6–10 months or even much longer to resolve.
Note: this approach works excellently for CPA and attorney business as well. It's a very effective business strategy in dealing with clients.
For our purposes here, I'll frame this in a 'tax resolution' scenario, but like I said, this works for many kinds of high-end businesses.
Now, usually, people who bring this objection up have received lowball quotes from some of your competitors.
Circling back to the tax resolution situation, let’s say you come up with a fee appropriate for their situation, around $7,500 to permanently resolve their IRS case.
They may have gotten a lowball quote from someone else for $2,500. And you know it’s going to take 6–10 months or longer to resolve their matter.
What I would say to the prospect is “Do you honestly think they are going to put a CPA, an enrolled agent, or an attorney on your case for $250 a month to resolve your problem?
They can’t, and they won’t.”
Never drop your price. Never discount your fee. Instead, build value. You build value by saying, “Hey, this is going to take a long time. We’re going to put a professional licensed CPA, enrolled agent, or attorney on your matter until we reach a resolution.”
You tell them you’re going to implement a customized plan of resolution to settle their case for the lowest amount allowed by law in the most expeditious fashion possible.
You never guarantee a certain dollar amount you’re going to settle the case for. You never guarantee a certain monthly payment amount you’re going to settle the case for. You can quote ranges, but only promise or guarantee things that are in your direct control.
The stakes are high for your prospect. They are high because if they don’t resolve the problem, it’s only going to get worse. They’re never going to have a bank account or real property in their name if they don’t get this resolved.
Additionally, IRS problems have a habit of ruining all aspects of your prospect’s life, including relationships with their spouse and kids.
Your job is to put them at ease. Your job is to build value. Your job is to paint a picture of what life is going to be like with the IRS problem resolved. You are the “bridge” they need to cross to achieve resolution.
That’s how you answer the objection of “You’re too expensive.”
This is my own personal "game plan" that I utilize on a regular basis. You should too. It makes good sense and is very effective. Whether it's for tax resolution work or your own professional client guidance, If you're not already doing something like this, give it a try. And then let me know how it worked for you!
You can call me at 833-894-5600, or email me at Larry@TaxProblemSolver.com and you can fill me in on how this strategy is working out for you.
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