5 Ways to Overcome Price Objections in Student Recruitment
Sep 16, 2024
As an education agent, admissions officer, or student recruiter, you’re no stranger to hearing *“You’re too expensive”* or *“We don’t have the budget.”* It’s frustrating, but here’s the good news: it doesn’t have to be the end of the conversation.
Price objections are often more about perceived value than the actual cost. So, when a prospective family or institution objects to your pricing, it’s not necessarily a hard “no.” It’s a signal to shift the conversation and focus on what they’ll gain by investing in your services. And it's important to find out if it's really price, or something else, that's putting the brakes on.
5 Tips for Handling Price Objections
- Don’t Respond Immediately
When you hear the objection, resist the urge to respond right away. Pause, take a breath, and let the client expand on their concern. This shows you’re listening and gives you a moment to gather your thoughts.
- Ask for Clarification
Instead of offering discounts or rushing to justify the price, ask why they feel it’s too high. “What makes you think the price is too high?” This keeps the conversation open and helps uncover their real concern.
- Highlight the ROI
A price objection is often about not understanding the value. Bring the conversation back to the long-term benefits. How does your service save time, reduce stress, or lead to better outcomes? Make it clear what they’ll gain from working with you.
- Use Social Proof
Share examples of other clients who hesitated initially but saw excellent results after working with you. Testimonials or case studies can build trust and demonstrate the value of your service.
- Compare the Alternatives
If they’re considering a cheaper option, explain the trade-offs. “Yes, there are lower-cost options, but they don’t provide the personalised support/premium school partnerships/something fabulous that we offer.” This helps them see the justification for your pricing.
And now.. into the nuts and bolts..3 Things You Can Say to Overcome Price Objections
- “I understand that budget is a concern. What if we look at the long-term savings this investment can bring?”
This shifts the focus to the bigger picture, helping them see your service as an investment rather than a cost.
- “No problem. If it’s price, which part would you prefer to miss out on to stay within your budget?”
This response highlights the value of each part of your service, making them reconsider what’s most important.
- “What would happen if you did nothing?”
This challenges the client to think about the consequences of inaction. It helps them realize that not investing now might lead to missed opportunities later.
By using these tips and responses, you’ll be well-prepared to turn price objections into productive conversations.
The main point is, though, to find out if it is REALLY price that is putting them off and then decide if you can help or not. If not, move them on out of the pipeline but keep them in the nurture sequence of newsletters for example and call them back in the future. If it's not price.. well.. that opens up the conversation, off you go!
If you'd like to talk with me today to explore how I can help you boost your enrolments just book a call here:
https://calendly.com/nicolalutz/chat-with-nicola-lutz
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