You Cost More Than Money

April 11, 2018

You Cost More Than Money

You cost your prospect more than you think you do.

And it’s driving potential customers away.

You’ve put a great price on your services.  Let’s say $495.  And yep, that’s what you run on their credit card.

But your potential customer doesn’t see it that way.

They see other costs.

Mental Costs

If you don’t recognize these additional, unseen mental costs, it could explain why your first quarter fell short.

Financial Cost + Mental Cost = Total Price of Working with You

There’s a mental cost involved in everything you sell.

What, exactly, is a mental cost?

Anything that creates doubt, indecision, worry.  Friction.

Mental costs happen when your client starts thinking about needing to dig through your membership to find what they want.

Mental costs lurk in their minds then they think about where the time is going to come from to attend weekly on-line sessions.

Do you belong to a gym?  There’s LOTS of mental costs involved when you start thinking about changing your clothes, lacing up your sneakers, and driving to the gym.  It’s so much easier to just stay home.

Mental costs might bubble up as they consider coaching with you, and all the work involved to figure out what’s really holding them back.

What’s the total cost of working with you?

All mental costs get in the way of your sale.  They add time, thoughtfulness, worry, concern, push-back, indecision, reconsideration, anxiety, fear, and who-knows-what-else to your sale.

Think of it as friction.

When the cost of working with you—money and mental costs—is greater than the perceived value (reward/outcome), you lose a sale.

They resist you.

Here’s a great example of friction:  I’m thinking of moving some investments around.  To make the yes/no decision, I was just thinking about the management costs.  Then I started getting all this paperwork to sign.  Lots of paperwork.

Friction.  It makes me wonder if there’s an easier investment out there.

You’ve likely introduced friction…mental costs…into the process of working with you, too.

It might be on the buy side…too many pop-ups, clicks, pages, videos, forms or opt-in confirmations before they get to the thing they want.

It might be on the usage side…small text, lots of text, difficult to follow instructions.

To accelerate your Second Quarter results, please take a look at the true costs of working with you.

Then, your job is to make it easy for your prospect – to take away some of the mental costs – to remove the friction to saying “YES” to working with you.

Go forth and do great things,

Martha and Chris

 

P.S.  How about Chris and I do a Business Make-over Adjustment for your business?  Help you identify the Mental Costs of working with you?

Ya, I know.  Sweet.

We’ll work with some businesses to find at least one thing you can adjust easily and simply to change the results you’re getting…and we’ll do it in under 15 minutes.

The Make-overs will be on Facebook Live every Thursday in April, 1pm Eastern/10am Pacific.

Want to see what the professionals can find in your business to make it easier, simpler and more profitable?

Click this link, answer the 6 questions on the form and hit “submit.”

If you’re chosen for any of our 4 Business Make-over Adjustments, we’ll set up a call to talk about your business, and then “make you over” LIVE on Facebook LIVE.

Okay, you’re right.  Not everyone will be chosen.

Yet…there’s still something in it for you.

Put the Thursday make-overs on your calendar and be with us LIVE.  I’m betting you’ll take away something you can apply to your business.