i'm jordan belfort and this is sales school [Music] all right so if you're a business owner do not let quickbooks and spreadsheets slow you down anymore now it's time to upgrade to netsuite by oracle the world's number one cloud-based business system network gives you the visibility and control over your financials inventory and more schedule your free product tour right now at netsuite dot com slash school what's the best way to respond when a prospect says another clo closer quoted him or her at a lower price assuming this would be the first loop we have a
list of people who are initially interested but for one reason or another didn't invest so i'll be calling the list this list and this and the services digital marketing mainly seo and the prospects are small business owners thanks again if you present correctly and you go through your presentation and you explain the services that you offer and you tie that in to the number of new customers the range of new customers he can expect to get from that particular service and you start off during your intelligence gathering questions and saying probably just a ball but
what's your average customer worth to you he says oh it's worth two thousand dollars all right let's do the math adafo okay let's say you can get ten new customers a month they're worth two thousand of poppets twenty thousand a month a quarter million a year so the lifetime value of a customer hello twenty four thousand a year right and you quote the guy 150 dollars a month and someone's clear 100 yeah does he give a [ __ ] about the difference of 150 to 125 not in the face of what your product can do
it's how you position what you do what's the cost benefit ratio what's the value proposition once you get your value proposition correct here and you explain it listen and then this yeah yeah i understand right and you know what you get what you pay for let's do the myth that program probably you know i know who they are i don't i don't like bashing my competitors the bottom line is okay is that if they close four people a month you'd be lucky with that sort of program blah blah you want to again specifics don't matter
the point the reality is that you break it down to like you're the best at what you do say like i jim honestly i'm going to ask you an honest question here okay if i go out there okay and i in that first month you get six new customers okay it's not gonna make you rich man right but what it will do it will show you that i am starting to bring in business in a cost effective way make money and what i can do for you over the long term and there's that's part of
a step down so you'll be doing and the point is you're showing the guy that if someone quoted him 100 for crap or for an average problem and you quote him 200 for a really solid program it's a no-brainer because you've turned it into a real business decision for their business owners they think in what's my cost beneficial what's the value proposition i when i just signed up with the company to handle my actual outgoing like day-to-day customer service on something you know then support right and they're twice as expensive as any other company out
there they are double the price i don't give a [ __ ] because the income i'll make from that is staggering you know i listen here's the thing you want to get one know what it's for listen to this i always say 200 300 500 people a day when i'm really happy right and i want to increase that to a thousand this month okay do you know what 20 of the people pay and never [ __ ] even use the program they're even look at the first video can you and they cancel they'll can they
don't even look at it sorry i'm too busy can you imagine knowing how great this is seriously knowing the value proposition right but they went through the funnel they were intrigued and they go back to their business they bucked their credit card down and they're like oh whatever [ __ ] them maybe it's not that i don't know certainty wayne's right i have a company that can of course they all do is follow up with those people and call them and re-engage them the course of benefit ratio to me when he explained to me in
those terms and show me the numbers it's like i'm making 5 000 roi do i give a [ __ ] that he's twice as expensive he goes i'm the best at what i do and he was very professional had a great rap and great systems i went with the most expensive guy because i think he'll do the best job i said to the guy i said flat out i said just you know i said i'm a trusting guy i have a low accuracy but i'm very quickly going to find out exactly what your competition paid
charges and every you know one because as soon as your you everyone's going to call me they'll find out and your competitors will be calling you to steal me away so be honest up front don't over bill me don't charge me too much right now so if you're trying to jack it up because i'm an easy talk so yeah i'm an easy talk guys i like to buy [ __ ] a low action person right and also i need the service right i said but just so you know i will find out very quickly if
you're overcharging me in this if you're upfront you're you're you're like you know you're what you're doing the um the sign up fee you know i'm saying the one-time side of you is like you know it's x i'm like guys is this if this i find out this is not customer in your industry you're gonna have one upset client now i'm happy to pay it if that's what the customary fee is here but if you're doing that because you can make an extra couple thousand in commission you're gonna lose a really big client your choice
i'll pay it but don't [ __ ] me because i'll find out because no no it's all right done i'll pay you but what it cost me in a monthly basis i don't think about that because i was presented it the correct way here's what you'll make off from the investment and it's not even close so if my roi is like 50 or 20 why do i care if someone chooses 2 000 a week for a person or a month or 3 000 really matter if i'm making 50 not a little bit you
