Lately, there has been a lot of talk from frustrated entrepreneurs who can’t get people to actually pay them for the services and programs. It’s disheartening and can make even the most badass of entrepreneurs want to throw in the towel.
When we go to try to diagnose what is happening to make our biz efforts bomb, we have to be open to looking within and how we may be sabotaging our own efforts. Only read on when you are in a place where you can embrace this and empower yourself to make some changes.
The first 5 things I’m going to discuss are typically where your “I can’t afford it” people fall. And I am referring specifically to those who actually can afford it but they aren’t investing. Let’s dive in!
- They aren’t in the right stage of change. I’ve been educating people on this for a while. If you haven’t read my blog article about the stages of change and how they related to your business, that is a must read for you. The bottom line is that there is a real psychology behind why and when people buy and if they aren’t in the right place, you are not going to get them to buy. You can, however, help move them through the stages with nurturing and information. Don’t try to force a person in pre-contemplation to buy…it’s not going to work.
- They don’t know the benefit or end result of what you are offering. This one falls on you. It is up to us to show people what things will look like if they take us up on their offer. What problem are we solving. How amazing they are going to feel. What progress they are going to see. What the process looks like to get from point A to B. We need to paint them a picture that shows them these things in such a way that they can visualize and feel those results!
- You’re attracting the wrong people. It happens if you haven’t been specific enough who your freebies, offers and Facebook group are for. That’s all you again. When you are promoting your freebies, your offers, and your group you must use copy that tells people EXACTLY who it is for. If your group is for female entrepreneurs who are also moms, start with “if you are a female entrepreneur who is also balancing being a mom and building an empire in the X industry, my group X is for you!” Be specific. My group is for entrepreneurs in years 1 – 3 of business who are looking to attract clients and market in creative ways. Well established entrepreneurs aren’t going to be interested in my stuff (unless they are just looking for a coach strictly for support…and I can do that!).
- They don’t believe in themselves. This is huge and a BIG problem for a lot of entrepreneurs. You will run into this often. Whether they believe it or not, the resistance to invest isn’t necessarily about you. It’s about whether or not they feel they can do the work to get the results. Whether it’s business coaching, health coaching, or something else, deep down they doubt whether or not they can pull it off. They may fear that they will let you down if they can’t do the assignments. I had a potential client who was a prime case. She was ready BUT she kept coming up with reasons to stall the process….worried about completing the assignments, money short (even though it wasn’t short the week prior), lack of clarity, etc. All reasons why she actually was a prime candidate for coaching. She would have gotten clarity, built systems to overcome the overwhelm, and had sales by now that more than paid her back for her investment. Part of our job is to try to get them to see this behavior without being pushy about it. We also have to realize that it takes work to change this mindset and you may not be able to quickly get them where they need to be in order to defeat this barrier. You could with coaching but they aren’t ready. Try to work on this in your groups, your emails. Etc.
- They don’t know you. No doubt you hear the term, “Know Like and Trust,” often. It is the key to running a business. People are going to buy from people and brands that they know. Think about this. You have 5 options to buy a product from and the price is the same. How do YOU go about making a choice? Typically people are going to choose the person or brand they are familiar with or has completely knocked their socks off with value. Make sure you are focusing on providing value to your peeps that gives them a result and shows you are the go to person in your field. Build relationships by having actual conversations with people online. Encourage people to reply to your emails so you can have a discussion. Treat your Facebook group like a comfy gathering place. Show up on a frequent and regular basis! And get that pretty face on Facebook live….there is no better way to help people get to know you.
- They truly can’t afford it. You’ve attracted the dreamers and doers without any money. I realize that there are big name coaches out there saying that people can find a way no matter what. I call bullshit having been there myself. There are people who have hit the bottom of the barrel. They have no credit card potential, no loan potential, can’t get PayPal Credit, have no retirement left, have no family or friends to borrow from, can’t pay their bills, and no they are not going to sell their couch and sit on the floor (I would never expect that). These people are determined souls. They don’t want to be in this place in life for long and the odds are good that they will be able to afford you in the future. Treat them like gold. Do not woo them until you realize they have no money and move on. I’ve had this happen and I will NOT sign with those coaches ever. Think about that.
- You aren’t giving them what they want or need. Oooooo snap…..epic fail! I remember as a health coach knowing that the main thing my people needed was a gut healing regiment but it was the last “want” on their list. I really focused on that gut healing component….and I really lost their attention. Had I focused more on the other things they wanted and snuck in the gut healing (it was critical to their success so not optional), I would have been a lot more successful. As a coach, there are a number of things to teach. You have to ask what your people’s biggest challenge is and teach them how to solve that problem. It’s hard because we all know that there could be other more pressing things they need but….if they don’t see the need…they aren’t buying. Why would they pay to solve a problem that they don’t realize they have? If I don’t think I’m overweight, I’m not paying for a weight loss solution. If I don’t realize that my copy sucks, I’m not going to pay for a copy course. Make sense?
These are just 7 places to look if you are struggling with getting some dolla bills for your offers. While there are certainly other places to look, these can be a springboard for you to start diagnosing and repairing this common problem.