Strategies For The “Can’t Afford It” Objection
Every coach eventually faces the moment when a potential client says, “I can’t afford it.” It’s a challenge that can feel like a roadblock, but it doesn’t have to be. Let’s explore practical strategies to navigate this common objection and turn it into a growth opportunity for your coaching practice. Understanding how to handle clients’ financial concerns can boost your coaching success.
1. Balance Flexibility vs. Rigidity Your Way
As a coach, you have the power to decide how flexible you want to be with your offers. Are you firm on your pricing, or do you have room for negotiation? Daniel suggests to coaches that “there’s no wrong answer; it’s about what is right for you.” Knowing your minimum acceptable rate helps you make decisions that align with your goals.
Application Tip: Establish a clear “floor” for your pricing within yourself—your lowest acceptable rate that you would take. This gives you confidence in negotiations and ensures your coaching is valued appropriately.
2. Consider Creative Offers
Sometimes, adjusting your offering can make coaching accessible without compromising value. Sheri highlights how offering a different structure, like monthly sessions instead of weekly, can meet the client’s needs while maintaining effectiveness.
Application Tip: Consider creating group coaching programs or brief intensives as alternatives. These can provide value at a lower cost, benefiting both you and your clients.
3. Handling Payment Objections with Confidence
When a client claims they can’t afford your services, it might be more about perceived value than actual cost. As Sheri points out, “It’s often about the money in relation to the perceived value they’re getting.” Engaging in a conversation about value can help uncover their true reservations.
Application Tip: During discovery sessions, regularly ask clients what they find valuable about your discussions. This reinforces the benefits of your coaching and can address objections before they arise.
4. Nurturing Long-Term Client Relationships
Even when a client can’t commit immediately, maintaining the relationship can lead to future opportunities. Daniel emphasizes the importance of persistent follow-up: “Demonstrate that you care enough to follow up with them.”
Application Tip: Set reminders to check in with potential clients periodically. Consistent follow-up shows your dedication and can convert interest into commitment over time.
Commit to Your Coaching Journey
Handling objections about pricing is a crucial skill for any coach. By focusing on flexibility, creativity, and communication, you can transform these challenges into opportunities for growth.
For more insights and strategies, watch our podcast episode 186 and join our free CMC Coaching community.
How have you handled pricing objections in your coaching practice? Reply with a comment or question.
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Keep Coaching,
Daniel & Faisal
Co-Hosts of The Coaches Journey Podcast