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How to Get Facebook Marketing Clients that are Eager to Pay You Every Penny You’re Worth

Discussion in 'Internet Marketing and Promotion' started by Billy Gene Is Marketing, Mar 30, 2016.

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  1. Billy Gene Is Marketing

    Billy Gene Is Marketing Entrepreneur

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    Let’s talk about a big challenge that Facebook marketing agencies are struggling with. That is the challenge of knowing what you’re worth — and getting paid what you’re worth — without a bunch of push back from potential clients.

    And here’s the secret. Right up front. It’s actually a pretty simple concept when you think about it: People are always willing to pay for what they want when they see the value in it. So, keeping this in mind, let’s talk about how to deal with the most common struggle I hear from people in Facebook marketing. The price objection.

    That moment when you know you’ve had a great conversation with a prospect, and he seems excited about what you’re saying. But when it comes time to talk money, you see the wall go up behind his eyes, his posture stiffens slightly and his whole attitude changes — becomes politely (or not so politely) resistant.

    Then comes that dreaded phrase, “You know, I really like you and I think this is great, but I just really can’t afford it right now.”

    Well, what the…

    You’ve just spent three days, maybe three months, chasing down that prospect and he just looks you in the eye and says, “I can’t afford it”?

    Now, if you’ve been paying attention here … you know what he’s really saying, don’t you? What he’s really saying, is “It’s just not worth it and I don’t really believe that it’s going to work.”

    Let me show you an example.

    I had a recent conversation with my cool sidekick Reena, and asked her what she’d say if told her I would sell her a Ferrari, right now, for $20K. Then I added, “Let’s pretend you had only 100 dollars in your checking and savings accounts combined, but I’ll sell you my Ferrari for $20K. What would you do to get your hands on that Ferrari?”

    “I would grab your phone and Venmo myself,” she said. (Venmo is a digital wallet that lets you pay and request money from your friends, so essentially, she’d steal my money then turn around and pay for the car with it). “Or, I would create a GoFundMe account.”

    “A GoFundMe account, that’s a really good idea. Not so much the Venmo,” I said.

    Then she added, “I would get my boyfriend to sell his sperm!”

    See, now that’s creative thinking!

    “Is there anything you wouldn’t do?” I asked.

    “Not if it would get me $20K for a Ferrari!”

    So, here’s the thing. In this example, even though Reena had only $100 to her name, she understood that the value of that Ferrari far superseded its $20K price tag. She knew that she could resell it and make a couple of hundred grand. Or she could keep it and have a bad-ass car for only $20K.

    My point is, she was willing to go to any length to get the money — sell her boyfriend’s sperm, steal my phone and Venmo money to herself — just to get that car because the value was clear. She also had confidence in the product. Ferrari has been around forever, everyone knows what a Ferrari is and what it’s worth, and she trusted that this was obviously a good deal.

    Now, let’s swing back to prospect price objections. When your potential client turns down your pricing, what he or she is really saying to you is, “Hey, I’m not gonna buy your services because I’m not convinced you’re a Ferrari.” When you’re approaching a client, you need to clearly understand, be realistic, and be confident in the value you deliver.

    So here's my discussion thoughts for everyone: let's talk about the moments in business where your client wouldn't fork out the money for your product/service because of the lack of belief in what you were offering them? How did you overcome these objections? Share your tactics.
     

  2. Corazon

    Corazon Entrepreneur

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    I'm both amused and amazed by your style of marketing and I can even imagine how you appear in person. Pardon me but I am weak in that aspect of marketing - convincing by hard sell. I used to enjoy selling clothing items to my circle and I enjoyed it simply because I know my customers personally. But pitching for someone I do not really know, I always develop a mental block whenever I would hear a hint of rejection.
     
  3. Billy Gene Is Marketing

    Billy Gene Is Marketing Entrepreneur

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    Thank you for the feedback! And hey... rejection is apart of the game! In the world of business you will always hear the word no; it's important to get used to it and you kind of have to welcome it. Don't be afraid to branch out to outside of your inner circle especially if it means more money (recurring revenue is great and all but let's face it, everyone wants to make more money). If you are confident in what you're selling and you know it's great quality and worth the price, then you just need to pitch it over and over again... progression not perfection. Are you currently doing any Facebook advertising?
     
    Corazon likes this.
  4. Corazon

    Corazon Entrepreneur

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    I'm not being humorous but you sound like my college professor who was so good in prodding people to be aggressive enough to try marketing. I agree that NO should be anticipated as an answer and that's what ruins my composure. I used to sell ready-to-wear clothes but only to my circle so the rejection is not that strong since they mince the words. But for strangers, I have heard of sorry incidents where the salesman had experienced being humiliated for disturbing the peace of his prospect.

    Anyway, it's really nice reading your daring posts. I learn a lot.
     
  5. Nancy

    Nancy Entrepreneur

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    I am not a very good salesperson! Honestly, I can't see myself chasing anyone's business for more than a few weeks, at most. Lucky for me, my business was a specific niche so it kind of sold itself. I offered a quality product and excellent customer service and after the first year or so, didn't have to worry much if my bids were accepted or not. I figure if they weren't accepted, they weren't meant to be. Often they came back later after bad experiences with other companies. My Facebook and web presence were more of a word-of-mouth or storefront type thing, and my business didn't rely on it.

    I currently run a non-profit and Facebook is our primary way to attract volunteers and and attendees. I get lots of Facebook activity, but little action! I will be watching this thread closely to see how others 'reel them in' from Facebook!
     
  6. T J Tutor

    T J Tutor Entrepreneur

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    First of all, you can avoid that entire struggle by properly qualifying the prospect. This is often dramatically overlooked by fledgling salespeople. Pre-qualifying prospects is as important as knowing how to sell features and benefits to a prospect as well as how to close a prospect.

    Objections are quite easy to overcome with a pre-qualified prospect, but near impossible with a prospect that has not been properly vetted. As well, many do not understand that a contact (or lead) is not a prospect. Making contact does not the prospect make. A prospect is someone that has the means, capacity, motivation, and willingness to purchase. A lead is anyone that has possibly mentioned they may have interest.

    Objection handling is not convincing someone that need what you have, objection handling is demonstrating to the properly vetted prospect that there is an alternative perspective that allows them to move forward (or past) their objection.

    One more important note. Many don't know how to separate a condition from an objection. An objection may be "I don't like the price", "I've never done business with you or your company", "I hadn't planned to buy for another two months", etc. A condition may be, "I must have a red car", or "a southern facing home", or "no less than ten acres with my new home", or "I'm preparing a legal brief and won't be available until Thursday".

    In the end, and in my experience, a salesperson has to follow a specific pattern that starts with making contact, finding a proper and capable subject (a lead) that can then be properly vetted to become a real pre-qualified prospect.
     
  7. Nancy

    Nancy Entrepreneur

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    You are awesome @T J Tutor! Excellent advice and explanations!! We are certainly fortunate to have your (and others'!) wisdom here. I hope you usually get paid for your knowledge :D It is worth it's weight in gold!!
     
    T J Tutor likes this.

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