How and When to Talk About Money
By: Jim Labadie
When I first started my career in the fitness industry there was nothing more I would dread in this world than having to talk about money with prospective clients. It was the most incredibly uncomfortable thing to do.
I would have rather worked for free than had to ask people for money in exchange for my services. From communicating with fellow fitness professionals all over the world I know I’m far from the only one who has had this problem.
Luckily, I no longer struggle with it. In fact, nowadays I not only have no problem talking about money, but I firmly believe no matter what someone is paying a qualified fitness professional they can’t ever pay them enough! In all seriousness, how do you put a price on a person’s body and health? Regardless of how you currently feel about the subject here are some tips to help make closing your sale much easier.
And by closing I mean the part of the sales process where you simply must talk about money.
1. Money isn’t the objection we think it is. Most of the time it is our own belief system which is holding us back. While it is true some people make purchases solely based on cost, most are more than happy to pay top dollar in exchange for a service they see as valuable. Since being physically fit comes so easy to fitness professionals, oftentimes they can’t imagine why someone would pay for such a service.
2. People almost always make purchasing decisions based on emotion rather than logic. Don’t believe me? Then why are there cars for sale that cost more than most people spend on a home? Why do we spend extra on designer brands when the same item could be purchased at a fraction of the price? Getting your prospects to open up emotionally about their health and fitness allows them to convince themselves they need to hire you.
3. Benefits make for great marketing, but not great face-to-face selling. If someone has decided to take time from there busy day to sit down and talk with you they are fully aware of the benefits of your services. What’s important is; you finding out why they want to receive those benefits. How? Spend the vast majority of your time during your meeting asking questions and listening as opposed to talking about the features or benefits of your service.
4. There’s simply no better way to get people to understand the dire need to retain your services than to have them admit the consequences that will result from their failure to take better care of themselves. In fact, I highly recommend you ask people what these consequences will be immediately before you talk about what it will cost to hire you.
5. Take a step back and took a good look at yourself and your belief systems about money. When you were growing up were you told things like:
Money doesn’t grow on trees;
Money can’t buy you happiness;
It’s impolite to talk about money;
A penny saved is a penny earned;
Money is the root of all evil?
If so, there’s a very good chance these beliefs you’ve held since childhood are the reason you have so much trouble talking to others about money. Really dissect your beliefs and ask yourself whether or not they are serving you as an adult. Whether you like it or not, money is a part of life. The sooner you come to terms with the fact you deserve to exchange value for value, their money for your services, the easier it will be to talk about money.
6. Also, take a long, hard at the service you provide and the benefits which result. Ask your current clients how many people in their lives have been positively affected by their new found fitness and the work you have done with them. You should quickly discover the fact you’re undercharging people!
7. Understand your moral obligation to sell your prospects on your services.
Until money, or something else of value, changes hands there has been no commitment made. When we don’t pay for things we don’t see them as being valuable. It’s your responsibility to make you are proficient at sales so their commitment to becoming physically fit is concrete.
If you won’t do it, who will?
8. If you’re uncomfortable talking about money then tell your prospect that is the case. People hire professionals they like and trust. Your honesty will go a long way towards developing that trust. Remember, money isn’t the objection or sore spot we think it is.
Most of it, as they say, is all in your head. By having confidence in yourself and the service you provide talking about money will become easier and easier.
Jim Labadie is a fitness entrepreneur, sales expert and speaker. To learn more on emotional selling, developing trust with your prospects and when to talk about money sign up for his FREE mini-course on sales for fitness professionals please visit: www.howtogetmoreclients.com