You know what annoys most attorneys I talk to? Price objections. Why?
Because any time a potential objects with something like, “You’re too expensive,” or “I can’t afford that,” they’re really saying “it’s not worth that much to me.”
When that happens, the chances of them becoming a client plummet rapidly toward zero.
They may be way off base, but once they decide that your fees don’t represent good value, there’s precious little you can do to change their mind.
More often than not, it’s a lost cause. However, there is a way to stop the problem before it starts:
Pre-emptively answer their price objections before they even come up. How?
Several ways could work, but here’s what our most successful clients do: Early on, they explain the hidden costs of hiring an attorney who charges less, and therefore cannot possibly provide the same level of service you can.
When potentials fully realize the dire consequences of looking for a bargain when so much is at stake, their price objections evaporate into thin air.
You then become the only reasonable option in their eyes. After all, if you ran into serious legal trouble yourself, would you look for the cheapest attorney you could find? If you needed brain surgery, would you shop around for a discount?
Of course not. The idea is preposterous. Potential clients don’t behave this way either – when they clearly understand what’s at stake.
So how do you actually make them understand the real costs of cutting corners, and thereby erase their price objections? The strategy is stunningly simple: Show them in black and white.
Our clients literally hand them an itemized summary of the real costs.
On page 222 of my Secrets of Attorney Marketing book, I provide a real-life example of one of these “cost sheets” for a DUI case – so you can see what kind of information we have our clients present.
It’s a perfect example of what you need to hand to your potentials if you want to nip price objections in the bud before they blossom.
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