Phone Objections: “How much do you charge?”

Did you know that more potential clients are lost during the appointment setting process than any other time? It’s true. Most small business owners (personal trainer included) have no active system for setting appointments when a prospect calls for more information.

This week I want to talk to you about phone based objections. Specifically I want to talk to you about that moment when a prospect calls you and asks: “How much do you charge?”

Lately, a few of my mentorship clients have asked me how to deal with callers who just want to know what you charge. I thought this would make a good topic to share with you.

Let’s face it; it’s like the kiss of death. If you give them your rates over the phone then the prospect will make her decision based on the cost of your services versus the value and benefits had she spent some time with you.

And if you don’t give your rates over the phone then you’re likely to lose the prospect.

Or are you?

See, the trick is to give them something to satisfy their question, and still schedule them for a consultation.

So, how do you go about setting up a consultation without giving away your rate over the phone? Before I show you to overcome the “How much do you charge” question, let’s take a look at how the typical phone call goes:
Ring – Ring.

Prospect: Hi, I saw your ad and would like to know how much you charge for personal training.

Trainer: Come in for a complimentary assessment and I can go over my rates for you?

Prospect: Well, can you just tell me what you charge?

Trainer: Ok, sure. I charge $70 an hour. And I offer discounts when you buy 10 or more sessions.

Prospect: Ok, thanks, let me think about it and Ill get back to you.

Has this ever happened to you?

See, the prospect just talked you into give out your rates. Now this prospect will make her decision based on the cost of the service versus the value and benefits had she spent some time with you.

Now let’s try this phone call all over again using an appointment setting script that give YOU control of the call.

Ring – Ring.

Prospect: Hi, I saw your ad and would like to know how much you charge for personal training.

Trainer: Thats a great question, our programs vary based on your goals, needs and wants and once we assess your goals I can let you know which of our budget friendly programs are best for you. Why dont you come in for a complimentary assessment? Would you prefer to come in later today or tomorrow?

Prospect: Well, how about tomorrow?

Trainer: And do you prefer a morning or afternoon time slot?

Prospect: I prefer mornings.

Trainer: Fantastic, I have a 7 AM or a 10 AM time slot available. Which would you prefer?

Prospect: Ill take the 10 AM.

Trainer: 10 AM tomorrow it is! Now all I need is your first name and your phone number and youre all set!

See the difference there?

In the first scenario the caller controlled the conversation. But in the second scenario the trainer had total control of the conversation.