(If You’re Afraid To Buy, You’re Afraid To Sell)
Something is holding you back from asking for what you actually deserve, and it’s costing you sales and quality customers.
I’ve seen this happen all too often, starting from the personal life of salespeople and business owners. You might be one of those people who see a suit or a dress in a store and when you see the $2000 price tag, your first thought is, “This is too expensive.” When you need to go to the airport, you’d rather take a taxi instead of a limo because a limo is “Too expensive.”
Here’s the problem.
If the thought of buying high-end products makes you think twice, then what are the chances you can ask for more money from your customers?
They can sense your values when you talk to them, so if you cringe at high prices, they will pick up on your opinion on paying more. You want a customer to pay $2500 a month for your service, but you stutter or you mumble when you tell them how much you charge. You trip over your own price because you think you wouldn’t pay that much, so why should your customer?
So if you want to charge more, and ask for what you deserve, then you need to change your mindset about money.
Here are three powerful tips on how to build your confidence so you can ask your customers to pay premium prices with ease.
1. Practice Asking For High-Ticket Prices
You have a great product and you know that you deserve to charge more because of the value that you offer. You also know that when you charge a premium price, you also attract a different quality of customer. This type of customer will invest more time after making a purchase to produce a better result from your product.
When it’s time to close the sale with the customer, you must sound completely confident in your pricing. To prepare for that moment, practice asking for a lot of money in front of the mirror. Record yourself and play back the recording later. You want to listen carefully to the tone of your voice, the expression on your face, and your body language.
Does your voice sound timid and uncertain, or strong and self-assured? Does your body look nervous or does it look relaxed? Say your price out loud. Don’t say, “It’s 10K, but…… I’m going to give you a deal. I can give you an installment plan.” Do you want the customer to pay $10,000 at once, or in installments?
Say “it’s $10,000” using the same tone of voice you use when you check the weather and say, “It’s sunny today.” Telling the customer that you’ll give them a deal implies you already believe they will not pay.
If you want to charge premium prices, then you absolutely must be able to speak with conviction. There is no difference between that notebook costing $10 and your service costing $10,000. They are just numbers.
2. Immerse Yourself In A Luxury Environment
Another way to build up your confidence is by immersing yourself in an environment where luxury is common. Students in my High-Ticket ClosingTM program have immersed themselves in luxury by test driving high-end cars or meeting up with other students at high-end restaurants.
When you are in a luxury environment, you will be more comfortable in it, and you will see yourself as being part of that lifestyle. For example, when I was just starting out in copywriting, I would go to the Pan Pacific Hotel, which is a five star hotel. I started by having a cup of tea there because that was what I could afford at the time. Later, I had a meal and I would do my work there.
You can also create a luxury environment by surrounding yourself with wealth triggers at your office or home. Hang up photos of successful millionaires and billionaires who inspire you. Place a high-priced item on your desk, such as a high-end paperweight, decoration, or pen.
If you truly believe that you will be highly successful one day, then you must feel comfortable in an environment of success.
3. Speak The Language Of Affluence
Learning to speak the language of the wealthy will increase your confidence in selling at premium prices. It will expand your comfort zone, and you are guaranteed to start thinking of high-end prices as no different than the prices of anything else. Let me give you an example.
This is the magazine description of The Taliesin 1, an armchair first designed in 1949. It was updated and, “The reissue itself evinces an advance in manufacturing, having been folded and pressed using the latest in wood-processing technologies. The armchair retails for $5,500.”
Notice the type of language used and how they name the price. This level of writing and the casual way they name prices is typical of the style in the online magazine Robb Report. I highly recommend subscribing to it to become more comfortable with the affluent lifestyle.
Reading that magazine changes you concept of how you view money when you see what these customers are spending money on. The way they run the ads is also different from magazines you may have read at bookstores. There are no buy one get one free ads. There is an ad that says, “Make a statement. Subscribe to Robb Report today.”
The average net worth of the people who read Fortune Magazine is $400,000, the average net worth of the people who read Robb Report is $4 million. Reading the magazine will help expand your comfort zone when speaking about wealth. For example, they feature a matchmaking service that costs $100,000. The interview process and the way that they sell it is very educational.
Selling High-Ticket Services and Prices
If you want to charge premium prices for your product or service, you must be comfortable as a customer first and foremost. If you aren’t comfortable with wealth, with paying high prices, it will show when you ask your customers to invest in your products.
So practice asking for high-ticket prices in front of the mirror and speak with conviction and confidence. Go to an open house for a several million dollar home. Walk through the rooms, and immerse yourself in the world of the affluent. Slip on that identity like slipping on a fur coat.
How do you immerse yourself in a luxury environment? Comment below.