Price Increase Objections For Your Online Course or Coaching Program

Written By Dan Henry

You've worked hard to improve your offer and have increased your prices along the way...

And then you get a potential client who has seen your previous lower prices somehow and is now upset because they have to pay more than what they were expecting.

I'm sure that you've encountered this scenario a time or two and haven't quite known how to deal with it...

Prices change over time for everything, and that's just a fact.

And this should include your offer as well.

I'm going to teach you how to pivot the focus in your sales calls from your original prices to the RESULTS of what your program is worth.


In this video, I'm going to cover:

  • How to overcome price objections from potential clients by changing their mindset surrounding why the price has gone up
  • Understanding the reality of the math behind longterm sales results for any offer
  • AND... how to get your clients over the hurdle of "coupon mentality" and close the sale, even after your price increase!

Transcription

Hey, everybody in today's video, I'm going to teach you how to deal with the price increase. Objection, meaning your prices have increased. Somebody heard about a previous price they're upset, and now they don't want to buy because the price has increased. By the way, if you like videos on how to close sales, how to grow your business, how to sell information online or anything, entrepreneurship related, please subscribe to my channel. I release new videos every week.

Hey, my name is Dan Henry founder of getclients.com and author of the bestselling book, Digital Millionaire Secrets. And we actually just hit some bestsellers stats, Barnes & Noble bestseller, Amazon bestseller peaked at number six so far on Amazon, out of all books ahead of Prince Harry's book ahead of thinking grow rich by Napoleon Hill. So the book is doing very, very well. Appreciate all your support, but let's talk about what I'm going to cover in today's video. Objection, specifically the objection of a price increase. So this happens quite often. In fact, it's happened to me and continues to happen to me. So let me set the stage. Let's say you're charging a certain price for your program and you're selling it and people are loving it. And they go out on social media and they say something like, I love Dan's program. I bought it for this much.

And you know, I invested this much and I'm so happy. Or let's say you do a video somewhere where you slip up and you say the price cost this much because you should never really tell people the price. And you'll understand why in a minute, but somewhere out there, or there's a review on your program, your consulting, your online course, your mastermind, whatever it is. And they mentioned the price. And let's say, it's this now some months go by and someone has booked a call to talk to you on the phone. And your price now is this you've increased your price, right? But they saw a video or they saw a post or they saw something where the price was this, and now they're upset. And they usually say something like, well, Dan, I was, I was, you know, prepared to pay this much, but now you're telling me it's this much.

So I just, I can't wrap my head around that. Well, here's the thing. We both know that that's really not a real thing because I didn't tell you how much it was. We never discuss our prices because our price has changed. And our prices go up every single year, at least twice a year. So they're one of the reasons. And again, one of the reasons I would encourage you not to tell people your prices until you're on a call. If you're selling something that's high-ticket, of course then it's because your prices can change. And if you tell people the price, they will get upset when down the line they get on and your price has increased. So that's why we never tell people the price because we raise our prices quite frequently. Now, again, this is not a foolproof method, because as I said, sometimes people will post it what they paid, et cetera.

And you can do everything in your power. You, you can make them sign a contract that says they won't disclose the price. That's totally fine, but it doesn't matter. It's going to get leaked. People are going to find out how much it costs and when they get on a call, they're going to be upset. So here's how I want you to think about this. Imagine, imagine it's a stock, right? Imagine it's like an Apple stock. Now Apple has consistently gone up just like certain companies like Facebook and whatnot like that. Now here's the thing. Apple is a very, very successful company and that's why it's high stock. And that's why its stock is increasing because of

The good company is doing a good job. It's making sales. Making great products. And again, because their stock is rising, they're able to make better products. If you have another stock that's just stagnant or another stock that is going down. Well, those really aren't that good accompanies then, are they? And it's very similar to pricing. Do you want to work with somebody that is lowering their prices? I don't think so because obviously they, their product can't be that good if they're continuously having to lower their prices and as well, what about somebody? Who's always the same price. Well, they can't be improving it, but if their price is continuously rising, they must have a good product. Just like in the case of Apple versus whatever companies who stock are going consistently down are consistently saying the same because here's the thing you got to, you got to think to yourself. Do you care about the price? Or do you care about whether or not it works? Let me give you an example of how we handle this. If I got on a call and somebody said, well, Dan, I heard your program was this. Now it's this. And I wasn't prepared, blah, blah, blah. I would say, well, listen you know that if you make just one sale at the old price, you'll, you'll make your money back. Well, now the price has increased. Now you just gotta make the sale. So you're telling me that you're willing to trade one for the ability to make as many sales as you want for the rest of your life, but you're not willing, Hey, to sales, to make as many sales, the rest of your life. Well, you know, I just, I just, I just wasn't prepared. I said, well, listen, John, the thing is, is we didn't tell you a price. You heard about a price. That's an old price. We've raised our prices. Why have we raised our prices? We've raised our prices because our students get results. I recently had somebody, I talked to my sales team today. Somebody literally got on the call, said that they bought an old program of mine years ago. That was much, much lower price. And they 10 X their investment, but they wouldn't buy. They didn't want to buy our new program because they heard somewhere that the price was lower at one point. Now that makes in reality, that makes no sense, right?

Because if you got that great of investment return, who cares what it costs, you're going to get that return. But the thing is, you have to understand is the reason why prices increased. The reason why your prices would increase is simple. You're getting your clients' results and you're putting more into your program. So for instance, when we were charging this much, we had like one coaching call a week and we had some systems. What we've doubled our prices. Since then, now we have four coaching calls a week. We have more systems, more content, more things that help our students. And the funny thing is our clients that have come in at the doubled price have made their money back faster than the people that came in at the lower price. Why is that? It's because we've given more to the program. We raised the price cause we put more into it because we learned how to get better results because we added more support.

And so that's why, even though the price was double people still made their money back faster. Because again, they got more help people to get in this crazy mindset where they think about price. They don't think about what it can do for them. Imagine if I said to you, you can put $5,000 into a stock and you'll make your money back within 60 days. And then every single week after that, if the stock performs poorly, you will make at least one, $5,000. You make at least $5,000 a week. Every single week, there's no stock on the planet that can do that, right? But let's say you paid $5,000 to learn how to close high ticket sales. You made a sale and then you, you made your money back. And then every week you do terrible and you make only one sale a week. That's 20 grand a month.

Right? But now let's say the person who's teaching you high ticket sales wants to charge 10 but wants to charge 15 or even 20. Right? Think about this. So now it's like, okay, so now I'm in a position where I'm an, I'm not okay with putting down 10 so that it takes, say 90 days to make my money back. Or maybe I make it back in 60 days. And then I still get a sale a week, every single week after that, when you look at the next year of your life, right? Like, think about this for a second. Let me see if I can map this out. Think about this.

If you make one sale a week for 52 weeks, right? So you make a sale, you make a sale, you make a sale. And most of our clients make multiple sales a week, not just one, but you make a sale right. Times 52 weeks. So if you're charging $5,000 for your program, okay, if you're charging $5,000 for your program and you make a sale every week for 52 weeks, that is $260,000, right. To make a sale every week for two weeks, that's $260,000. So basically what, let's just say that I charge $5,000 to teach you how to make a sale a week for 52 weeks, $260,000. You're basically saying you're willing to pay 5k in order to make 260 grand back in a year, but you're not willing to pay 10 K or even 15, or for that matter, even 20 to make guys, even if you pay 20, right?

Even if you pay 20, would you pay 20,000 to make 260? But if I say, Hey guys, I got five stocks. They're $20,000. They'll make you two or so. I got five stocks. And if you, if you pay five grand, you'll make two 60 back. And let's say a bunch of people buy all five stocks. And now that stock is no longer available. And you're like, well, Dan, Dan, do you have any socks left? I go, well, no, but actually I have another five that will take you to 60, but it's 10 grand. You'd be like, I don't care. Gimme them. Okay. I sell all five stocks. They're gone. Somebody else comes in. Well, Dan, do you have any of those 10 left? I just sold the last one, but I'll tell you what for 15, I'll sell you a stock and you make it.

Of course. Okay. But Dan, do you have any of the 15? No, but it's 20, right? Oh, okay. Fine. Of course. You'd pay 20 to make two 60, but because this is called reality. Right. But people get it in their head. They're they, they just focus on this. They just focus on the five versus the 10 or the 10 versus the 12. I'll give you an example. I, we, we, we, I, I did an event. I charged $30,000 for my mastermind. Right. And we sold out. So I closed the mastermind and I raised the price to 55,000. And I said, as soon as a spot opens up, meaning somebody doesn't renew or whatever, we'll sell another spot. We had two people reach out, right? Two people, person. One said, Dan, I want it. I said, well, we might have a spot opening up next week.

We have somebody who is may or may not renew theirs. They sold their company. So they might not renew. So the guy goes, okay, well, well it's 30 grand, right? I said, no, no, no. It's 55. What do you mean? It's 55. I mean, it's 55. I raised my prices all the time. Why? I thought it was 30. I said I don't care what you thought. It's 55. You should've got in when he was 30. Well, can I get it at 30? No, you can't. Do you want, do you want to buy from the guy that will discount. Do you want to go buy it from the guy? They can raise his prices. Who would you rather learn business from? Just like, you know, we're getting we're, we're making people lose weight. We're making become happier. We're making people save their marriage. Would you rather buy from the person that is so good at helping people save their marriage?

That he can raise his prices every year or the guy or girl or whoever that's discounting their price because they're not that good at helping people save their marriage. Right? So in my case, I teach people business. But again, people get caught up in this consumer mentality and that's what it is. It's a coupon mentality. It's a coupon mentality because they're like, they're not focused on this. They're not focused on what they can make. They're focused on this crap. Oh, well it was five now it's 10. Oh, it was 10. Now it's now it's now it's 20. Right? And so they're missing this because imagine for a moment you say, you say yes to five, but no to 10 or whatever. So basically if you take two 16, you minus it by five that's two 55. But if you take two 60 and you might sit by 10 that's two 50.

So you basically just said, well, Dan, I'm willing to do this deal, but I'm not willing to do this deal. You didn't save yourself five or 10 grand. You cost yourself 250 grand. Congratulations. You're a fantastic entrepreneur. You're a great business person because you just literally don't know how to do the math. Either your math logic or your, your, your math challenging, your logic challenge. Like you just cost yourself two 50, because you were so focused on the coupon mentality that it was between five and 10 and that's negligible compared to what you could make or it's negligible compared to how you could transform your life or your marriage or whatever it is. And so let me take you back to this guy that wanted it for 30. And so I'm talking to him, he says, you know, I just can't get over the fact that it's 55 now instead of 30, I can't pay the extra 15 grand said, okay, fine guy two reaches that.

He says, Hey Dan, same situation. And again, he says, you know you know, he says, well, now it's 55. I really would have rather paid 30. I'm like, Hey, I understand. But it's 55. And he goes, well, Dan, let me ask you how much of your students made the ones that the bought at 35? I said, well Shana bought in at, at, at 30. And she made $37,000 in her first two weeks. Andy made 240,000 last month, Mark made 80,000 last month. And he goes, so what you're telling me is that you're going to help me. He's like, you know, I have a $5,000 product. I, you know, I'm struggling to close, blah, blah, blah, whatever. And I, and I say, yeah, I'm going to help you increase sales. And he goes, so what you're telling me is, even if you helped double my sales, that would be like, I could drop that $50,000, that $55,000 into that bucket of what I would increase.

And I'd never find it. I said, yeah, that's why people, that's why people join my mastermind. Yes. Okay. And this is a guy who literally did the math in his head and realized he would be missing out. And he goes, okay. And so we like jewelry just three days ago. I already got the paperwork started and he'll be ready to go if, and when this guy drops out. So the other guy, the first guy reaches back out and he says, Hey, Dan, I've been thinking about it. I think I want to do it. And I say, well, unfortunately, we already have somebody else reach out, put down a deposit. The paperwork's almost done. If this guy drops out, he gets the spot and I don't have anybody else that wants to drop out anytime soon. And he goes, but, but I thought that was just a sales tactic.

I go, no, it's not a sales tactic. People who don't have good products use that use price increases as a sales tactic. People who have good products increase their prices because they have good products. It's called reality. Okay. So that's how I sort of, I, that's how I approach it and how I would encourage you to approach it is when somebody comes on your call and they say, I just can't get around the price increase, do not acknowledge this. Do not acknowledge that this is a thing, focus on the result. So instead of saying, well, you know, our prices increased. That was an old blog post. That was an old review. Our price is doing increase instead of just constantly living here say, well, let me ask you something. Are you saying that it's worth, you know, this much to change your life, to save your marriage, to, to grow your business, to lose weight, but it's not worth this much?

How much is it worth? And no matter what you say, no matter what, where the conversation goes, the prospect is one is going to want to live here. They're going to want to live in the five versus 10 or the 10 versus 20, or the 500 versus a thousand or whatever it is. That's where they're going to want to live. They're going to, they're going to stay in the coupon mentality. And they're all just gonna care about this when instead you need to not even acknowledge that. And you need to focus on the result mentality, right? Use analogies, you know, for instance. So, so, so Dan, if you had a stock that you put in and you got a hundred, you put five grand and you got a hundred thousand dollars back and that stock sold out, but then you have another one that is $10,000.

And again, you get a hundred thousand dollars record. Would you still do it? Yes, I would. So why aren't you doing it here? Well, it just wasn't prepared. Well, listen, John people with great products, people that get results, their prices increase. You watched an old video at the price increase. Do you care more about the price or whether or not it works because products that work go up in price. And if they say I care more about the price, you don't want to work with them anyway. But if they say Karen brought more, more about whether or not it works and that they just admitted now that this is BS. Cause it is BS. It's total crap. Like, and everybody knows deep down, that prices increase that, Hey, you missed out. It happens. It's 10 or it's 20, or it's 15. And a story, dude.

Sorry, you missed the boat just because you saw somebody say it somewhere some other time doesn't mean I'm going to discount it. Like what is happening in your brain? You know what I mean? You can't say that. What you can't say is you can use analogies and you can focus on the result. Right? Well, well, you know, it was 2000 for your weight loss program, but now it's 5,000. I just wasn't prepared for that would, well, Sarah, you've seen all the people we've helped lose weight. You've seen the success stories, right? Yes. So you're saying you were willing to pay 2000 to change your life, lose weight. Why do you want to lose weight? Well, all, you know, I want to look better for my husband. I want to play with my kids more. So what you're saying is that your husband and time with your kids is worth 2000, but it's not worth 5,000.

You see what you're doing there. You're focusing on the end result, not on the coupon mentality. This means nothing. Once their credit card is charged and they're done with this and they begin experiencing the result, they forget all about this. They forget all about it. I paid 30,000, $35,000 for a speaking mastermind. And since then I've done an event where I've made a million dollars in a day and I've done an event where I've made $280,000 in a day. You think I give two craps about that $35,000 I spent, I don't even remember it. I mean care. The only time I bring it up is to use it as an analogy, right? So that's the point, guys. When somebody gives you an objection, drew the price is increased focus on the result and whether or not it's worth the result, not on the coupon mentality.

And if they can not leave this, then they're not the person you want to work with. You don't want to work with people with coupon mentality. All right? I always say, I do not help losers. I help winners win bigger losers, focus on these winners, focus on that. That's it. So I hope this helped you. And it was direct advice. And the reason I'm direct is because I see a lot of gurus and a lot of people out there who will teach something, but they'll take two hours to say it when I can say it in 10 minutes because I don't take time. You know, bluffing it up. I like to be direct. I like to be honest, I like to be real. That's what you'll get from me. That's what you'll always get from me. The truth, no fluff. That said, if you want a more truth, if you want more direct to the point, no fluff, you want to get my book, digital millionaire secrets.

I will leave a link in the description where you can get the book. It's an amazing book. And again, I have a screenshot with it ahead of Harry Potter on Amazon. And it's like a dream come true for me to see this book doing so well. I mean, there are 33 million books on, and this morning as I record this, it was number six, number six. We're probably gonna hit a lot of another, a lot of, a lot of other best sellers. I'm truly blessed, but the reason the book is doing so good, cause the book is good because I took my heart, my soul, my blood, my sweat, my tears to make this book good. Just like you should take your heart, your blood, your sweat, your tears, making your products good and charge accordingly and never feel bad for raising your prices. Never feel bad. And don't let people make you feel bad for raising your price. Right? Don't forget to subscribe to my channel. I'll leave a link where you can get the book (DigitalMillionaireSecrets.com). I'll see you in the next episode!