Overcoming "I Can't Afford It" LIVE // Andy Elliott

Summary

Podcast Summary: Andy Elliott's Elite Mindset Motivation and Sales Training

Episode Title: Overcoming "I Can't Afford It" LIVE // Andy Elliott
Host: Andy Elliott
Release Date: December 13, 2024

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Introduction to Overcoming the "I Can't Afford It" Objection

In this episode of Andy Elliott's Elite Mindset Motivation and Sales Training, CEO Andy Elliott delves into one of the most common challenges salespeople face: overcoming the objection, "I can't afford it." Through a live role-play and insightful commentary, Andy provides actionable strategies to effectively address and surmount this hurdle, ensuring sales professionals can close deals with confidence and finesse.

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Role-Playing Scenario: Navigating the Objection

At the outset (00:00), Andy sets the stage by introducing a scenario where a salesperson encounters the "I can't afford it" objection. He emphasizes the importance of understanding and addressing the real concerns behind a client's hesitation.

Speaker A (Andy Elliott): "Everybody write down something real quick. I'm gonna give you a lot of different ways to think when you're doing closing number one, money justification."

In the role-play, Speaker B presents a salesperson offering a 12-week fitness program priced at $2,500, with options for extended six-month and twelve-month plans. The interaction highlights typical dialogue and responses salespeople might encounter.

Speaker A: "How much is it go?"

Speaker B: "So my 12 week program is $2,500. I have a six month program, that's $4,500 and a 12 month program that's $7,200."

When the client expresses financial hesitation, Speaker B adeptly offers flexible payment plans, showcasing adaptability—a crucial trait in successful sales negotiations.

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Strategies for Addressing Financial Objections

Andy breaks down effective techniques to handle financial objections, emphasizing the need to keep the client's goals at the center of the conversation. At 02:15, he advises:

Speaker B: "What could you afford? When we got on the call, you knew there was going to be a cost."

He underscores the importance of probing deeper to uncover what the client can afford and tailoring solutions accordingly. This approach not only addresses the immediate objection but also aligns the product or service with the client's financial comfort zone.

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Focusing on Client Goals

A significant portion of the episode is dedicated to understanding and emphasizing the client's goals. Andy illustrates this with targeted questions designed to elicit the client's motivations and desired outcomes.

Speaker A: "How long have you been trying to achieve this for? Have you had a coach before? When you were at your greatest health in life and you had your best body, how did you feel?"

These questions help salespeople connect the product's benefits directly to the client's personal aspirations, making the purchase decision more compelling. By doing so, the salesperson shifts the conversation from cost to value, highlighting how the investment contributes to the client's long-term goals.

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The Power of Decision-Making in Sales

Andy stresses that closing a sale hinges on the client's decision-making process. At 05:01, he states:

Speaker A: "It's all about decisions. Would everybody agree? If you want to get someone over the line, what do you got to get them to do? Make a decision."

He elaborates on the psychology behind decision-making, noting that urgency and commitment are key indicators of a client's readiness to proceed. By fostering a sense of immediacy and illustrating the consequences of delaying the decision, salespeople can effectively motivate clients to act.

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Building Urgency and Demonstrating Value

To create urgency, Andy recommends highlighting the client's current struggles and the potential for improvement. He uses powerful statements to reinforce the necessity of taking action now rather than later.

Speaker A: "The decisions we make today will determine whether we lose the £40 or whether we got to have this conversation in another year and now we've got to dig ourselves out of £80."

This analogy underscores the escalating costs of inaction, compelling clients to consider the long-term financial and personal benefits of investing in the product or service immediately.

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Effective Closing Techniques

Closing the deal is an art, and Andy provides a comprehensive framework for mastering this crucial phase of the sales process. He outlines steps to ensure that the client is not only ready to purchase but is also genuinely excited about the decision.

Speaker A: "Your sales team should be able to take somebody to a virtual test drive in whatever the hell you do to what this will look like, how they'll feel when this happens, what logically happens and what emotionally happens."

By guiding clients through a "virtual test drive," salespeople can vividly demonstrate the product's impact, making the benefits tangible and persuasive. This method helps clients visualize their success, thereby increasing their desire to commit.

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Insights on Building a High-Performing Sales Team

Beyond individual techniques, Andy addresses the broader aspect of sales team performance. He emphasizes the importance of setting clear metrics and fostering a culture of continuous improvement.

Speaker A: "If your team is good, people will stop them earlier and say, stop, I'm sold. That's when you know your team's good."

By focusing on key performance indicators such as the number of offers made daily and the transition rate from offers to closes, sales leaders can identify areas for enhancement and ensure their team remains effective and motivated.

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Motivational Call to Action

Throughout the episode, Andy intersperses motivational messages to inspire sales professionals to elevate their performance. At 04:20, he passionately declares:

Speaker C: "Super important, guys, if you're watching this video right now and you're like, andy, I'm not built like that. Bullshit, yes, you are. You gotta train. Train or complain. It's your choice."

This no-nonsense approach serves to motivate listeners to take responsibility for their growth and commit to the necessary training and development to achieve excellence in sales.

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Conclusion and Action Steps

Wrapping up the episode, Andy reiterates the critical role of decision-making and effective closing techniques in successful sales. He urges listeners to implement the strategies discussed and continuously refine their approach to overcome objections and close deals.

Speaker A: "Let's kill it."

This powerful closing statement encapsulates the episode's essence—empowering sales professionals to tackle objections head-on, stay focused on client goals, and drive towards successful outcomes with determination and skill.

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Key Takeaways:

1. Understand the Root Cause: Dive deeper into the client's objection to uncover the true barriers to purchase.
2. Focus on Client Goals: Align the product or service with the client's personal and professional aspirations.
3. Foster Urgency: Highlight the consequences of delaying the decision to encourage prompt action.
4. Master Closing Techniques: Utilize strategies like the virtual test drive to vividly demonstrate value and compel commitment.
5. Build a High-Performing Team: Set clear metrics and promote a culture of excellence within your sales team.
6. Stay Motivated: Embrace a proactive mindset and commit to continuous training to excel in sales.

By implementing these strategies, sales professionals can effectively overcome the "I can't afford it" objection, build stronger client relationships, and achieve higher closing rates.

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Notable Quotes:

• Speaker A (00:00): "Everybody write down something real quick. I'm gonna give you a lot of different ways to think when you're doing closing number one, money justification."

• Speaker C (04:20): "Super important, guys, if you're watching this video right now and you're like, andy, I'm not built like that. Bullshit, yes, you are. You gotta train. Train or complain. It's your choice."

• Speaker A (11:43): "Let's kill it."

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Final Thoughts:

Andy Elliott's episode on overcoming the "I can't afford it" objection offers invaluable insights and practical techniques for sales professionals aiming to enhance their closing skills. By focusing on client-centric strategies, fostering urgency, and employing effective motivational tactics, salespeople can navigate objections with confidence and drive substantial sales growth.

Transcript

[A]

Okay, come here real quick. Let's talk to you. Right? She's doing all these things and then I say, how much is it? Go. Now, I need you to understand this. Everybody write down something real quick. I'm gonna give you a lot of different ways to think when you're doing closing number one, money justification. Money justification. What does that mean, justify? Okay, where maybe, maybe, maybe they might. I can't afford that right now. Okay, now justify. Maybe it's not money, but what are some other things? Remember, keep the client's goals at the center of the decision. Does that make sense? Okay, come here real quick. Let's talk to you. Everybody give it up for two seconds. Come on. All right, watch this. You help people with fitness or food.

[B]

Or all of it? Health, fitness, all of it.

[A]

Okay. Is it a monthly subscription?

[B]

I do 12 week programs, six month programs.

[A]

12 month programs, 12 weeks. We're gonna talk about 12 weeks real quick. Okay, she's got a 12 week program. I reach out on the phone, right?

[B]

Zoom calls or phone calls?

[A]

Yeah, yeah, I'm on a zoom call. I see her face, I see she's in shape. She's got moral authority. I'm like, oh my God, she's an expert, right? But then she's like, hey, I've got this 12 week program. It's super cool. I'm like, she tells me all about it. This is what it's gonna do. This is how you're gonna feel. This is, this is what our customers have told us that they felt when they did it, that we're just like you, right? She's doing all these things. And then I say, how much is it go?

[B]

So my 12 week program is $2,500. I have a six month program, that's $4,500 and a 12 month program that's $7,200.

[A]

Okay, so let's say. Okay, so tell me about the 12 week program. Do you need the 2,500 a day or do I gotta make payments?

[B]

So you can pay it all up front for $2,500, or we could do monthly payments, 950 every four weeks. Whatever works best for you. Which plan do you think would work best for you?

[A]

Yeah, financially, right now? I don't think that right now is the right time.

[B]

Okay, well, when you got on the call with me, you told me that you had a problem with your health, you know, that you've been struggling, that you don't like what you see in the mirror, that you're not happy, you're not bringing your best self to the table. You don't have the energy to play with your kids. Why is now not the right time? You got on the call because you wanted to make a decision.

[A]

Yeah. So financially it's just not the right. Like I can't afford it.

[B]

Okay, what could you afford? When we got on the call, you knew there was going to be a cost.

[A]

What if I said I could afford 500amonth for every four weeks? Would you change the plan?

[B]

No. Can we split it up into $500 payments over a couple months?

[A]

So you would just alter it?

[B]

So I've got a 12 month program that you pay $500 a month if you commit to a full year. Do you do that? That gives us longer to work on your goals.

[A]

So here's what we're going to do. We're going to use that objection that I gave her and I want you guys all think about your industries real quick. Remember I said her goal is to keep the client's goals at the center of the decision. Okay? Now listen, how do you find out what the client's goals are? At the beginning of the call, you ask questions. Am I right? Okay. What are some good questions she could ask in her industry? In her industry? How long have you been trying to achieve this for? Okay, Is that going to play out somewhere in the end? Have you had a coach before? And if you did, can you talk to me about the success or the success you didn't have so I can understand what are your biggest struggles? Yeah, I just want to know, did it work or did it not work? Let me ask you a question. When you were at your greatest health in life and you had your best body, go to that place, how did you feel? Okay. How did you take care of people that were around you? How did that affect your relationships with others when you felt that way? So when you felt that way, it didn't only affect you, it also affected the people you love. And I think that's the reason why we're on a call today is because we're trying to get back to that place. Is that right? Or maybe you've never been to that place and maybe you're looking for somebody who believes in you. If you look to the left and you look to the right, there's probably.

[C]

No one there right now that wants.

[A]

To see you, see your dream body, the body that you deserve. Okay? But I'm here, okay? And I have a great program and I have to do my job and it does cost money. But what I will tell you is. And then there's what you say next. That is what gets people over the line. Does that make sense? Okay, so what will you fill in and say? What I will tell you is, what would you say? Because I know what I would say.

[C]

Super important, guys, if you're watching this video right now and you're like, andy, I'm not built like that. Bullshit, yes, you are. You gotta train. That's the way it works. Train or complain. It's your choice.

[A]

Okay?

[C]

Every day I train the greatest in the world. You know what I mean? Are you ready to kick some ass and build your legacy and make history? If you are in the description box below on this YouTube video, there's going to be a link. You click on it, enter your phone number, email, full name, and I will personally reach out to you in the next 24 hours. If you're serious about kicking some ass, going to the new level, recreating next version of yourself, I'm your guy. Let's kill it.

[A]

Yeah. What I would tell you why you need to do this right now is.

[B]

What I will tell you is you've been struggling. You got on this call because you aren't your best self. You aren't happy. You don't look in the mirror and like what you look like. That's a problem. We only get one go with this life, you know, it's short. You know, we want to show up as our best self. We want to be our kids heroes, we want to get to play with them. We don't want to be the parents sitting on the sidelines. You don't want to be that parent. You want to get up and play with your son, you want him there next to you.

[A]

Okay? It's all about decisions. Would everybody agree? If you want to get someone over the line, what do you got to get them to do? Make a decision. So in her industry, she could probably say, you know, listen, number one, I understand everything that you're saying, but I'm sure that we can both agree that the life that you have now, the weight that you have now, the way that you look now, is because of the decisions that you made in the past. Would you agree? Yes or no? Okay. And I can't go back and change those decisions and neither can you. Look, I don't think you would have been willing to set up the call if you weren't willing to make a new decision. Okay? The decisions you make today set up the future that you'll have for tomorrow. Now I'm going to Ask you one question. When you told me that you wanted this, were you serious? Yes or no? Yes or no? Do you know how I know if someone's serious? Urgency. If someone's serious, they move with speed and they move with urgency. I'm here to tell you that out of being out of shape for the last four years, like you've told me, it's probably taken you a lot to get on a phone call like this. And now that we're here, we've got to decide, are we going to continue to make the same decisions? And by the way, you're 40 pounds overweight right now. If we don't make a decision, and you've already tried to do it on your own, and so it didn't work. So the decisions we make today will determine whether we lose the £40 or whether we got to have this conversation in another year and now we've got to dig ourselves out of £80. Now, listen, I have a proven record for dealing with clients that are just like you, that don't believe in themselves. And I'm not saying you don't love yourself. I didn't say that. But don't believe in themselves. To get the results that you want, you'd already have it. And you need a coach. You need somebody that has a proven strategy, a blueprint that literally takes people that are just like you, matter of fact, even worse situations than you and takes them to where they want to go twice as fast. And that's going to be me. Your job is when you close, is when you close. It's everything that happens after this. So if she has a sales team, I'm just giving an example. I would rate the team on how many offers they make a day. Does that make sense? And by the way, if they say we all make an offer all day long, every time we get to the offer, what is the team? Have a selling problem? No. The problem is they may be order takers, they may be salespeople that educate people on what this product does, but they're not closers, okay? Closers are people that close people on reasons and excuses why they should pass. Go. Right now, your number one job is to get people to move now you're here. So that when my kids, I go home at night, I want them to go to bed. Now when I tell them it's time to go to bed, I close my kids on bedtime. You guys, if you have kids, anybody's got three kids or you guys got kids, I meet you understand what it's like okay. So if you want to grow your companies, we're going to put them into two buckets, okay? Number one, sales to the offer. If we're getting to the offer, the problem is that what we've learned is that from the offer to the close, that's where the fuck up is. But you need to know all of your people's numbers. How many appointments did you take today? 12. How many offers did you give? 8. Why not 12? Why didn't you give 12 offers? Well, the other ones, they didn't see, that's a problem. So we need to work on your sales and get you to 12. Okay. And the feel of the wheel seals the deal. You got to give them a test drive through the product. Does that make sense? Got to test drive them through the product. Once you test drive them through the product. Also, how do you know if somebody's good at sales? When I test drive you through the product on the back side of my test drive through the product, should the client be excited? I haven't talked about money yet. Right? Because that's at the close. The close is when the offer comes out. Your sales team should be able to get somebody excited where they're ready for the offer. Your sales team should be able to take somebody to a virtual test drive in whatever the hell you do to what this will look like, how they'll feel when this happens, what logically happens and what emotionally happens. That's. That's the sales job. And at the end of that test drive, that demonstration of product or communication or call, we'll call it a virtual fucking test drive through my product. Let me show you what we do. This is what we've done. This is how we've been in business. This is what we're making people feel. This is what everybody else says about us. It's not about what we say. It's about what they're saying. This is what's happening, dude. Then what? Everybody should be like, sign me up. How much? How much? Tell me. Matter of fact, if your team is good, people will stop them earlier and say, stop, I'm sold. How much? That's when you know your team's good. Okay? That's like having a relationship with somebody. You know, Yalls guys goals is to build rapport, right? Have you ever been building rapport with somebody and they say something like, I don't know why I'm telling you this, but. And you're like, I fucking know why you're telling me this, because we have a badass relationship. Your goal is Everyone you're around, every person you build a relationship, you want them to say, I don't know why I'm telling you this, but, well, you do, because you're really good at communication. All right, Give it up to her. Good job, busy mom. Good job, busy mom. All right. All right. Here we go.

[C]

Hey, guys. Looks like you made it to the end of the video. You're the true 0.0001 percenters. Look, I know 1 percenters that can make it halfway through the video, but making it all the way through, you.

[A]

Guys are the best.

[C]

Now here's what I'd like to do. Number one, I want to get closer to you. The fact that you made it all the way through the video, you're like, man, dude, I want to roll with this guy.

[A]

Okay?

[C]

So I need to connect with you. Down below, there's a description box. On this YouTube video. There's a link. It says, coach with me one on one.

[A]

Okay?

[C]

If you'll go and you'll enter your information, I'll reach out to you in the next 24 hours. You can tell me what you need, help with, what your goals are, and we will crush it together. I would love to help you guys go to the next level in life. You can tell I'm changing my life really fast, and I know that you guys want the same thing. I'd love to go with you on that journey. So right now, if you'd like to partner with me, team with me, if you want me to help coach you and push you, Everybody needs a coach, a higher level of accountability to go to the next level. Go to the description box below. Click on the link, fill out your information. I'll talk to you in the next 24 hours.

[A]

Let's kill it.