"The Ostrich Jacket" Price Overcome (how to sell anyone on anything at any price related to fitness...) 🔥💰One of the most solid price objections I know of...and why everyone loves to buy. | Ep 69
The Game with Alex Hormozi
Alex Hormozi
4.9 • 4.8K Ratings
🗓️ 8 August 2018
⏱️ 9 minutes
🧾️ Download transcript
Summary
"Just because you are insecure about your pricing and value does not mean you should take that from them." Today, Alex (@AlexHormozi) discusses the importance of selling expensive items and how it relates to people's desire to buy and own expensive things. He also provides a price objection technique using a relatable comparison to help potential customers understand the value of their purchase.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(0:37) - People spend more on enjoyable things
(1:35) - Brain chemistry affects expensive item enjoyment
(2:56) - Price objection example: Mrs. Johnson's items
(5:40) - Insecurities should not prevent valuable experiences
(6:47) - Cost per-wear breakdown for better comparison
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Transcript
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| 0:00.0 | Real quick guys, if you can think about how you found this podcast, somebody probably |
| 0:03.8 | tweeted it, told you about it, shared it on Instagram, or something like that. |
| 0:07.5 | The only way this grows is through word of mouth. And so I don't run ads, I don't do sponsorships, |
| 0:12.2 | I don't sell anything. My only ask is that you continue to pay it forward, do whoever showed you, |
| 0:16.4 | or however you found out about this podcast that you do the exact same thing. So if it was a review, |
| 0:21.0 | if it was a post, if you do that, it would mean the world to me and you'll throw some good comment |
| 0:24.3 | out there for another entrepreneur. Hey, what's going on everybody? Happy Tuesday. I'm getting |
| 0:28.6 | on a little early today. And it's mostly because I was eating breakfast and I thought of this |
| 0:36.8 | topic that I wanted to make for you. And I'm like, ah, maybe a shower. And then make it, |
| 0:41.8 | but it's all fresh on my mind. So I ran on my closet to get this article, |
| 0:47.0 | clothing, which I'll talk to you about a second, and basically explain what I believe to be one of |
| 0:51.7 | the most solid and fundamentally sound price objections that I'm aware of. So I don't know if the |
| 0:57.0 | lighting is cool, but if you can see this, I'm wearing an ostrich skin jacket. And I'm wearing this |
| 1:05.1 | because this is actually my favorite article of clothing. It's also the most expensive thing that I |
| 1:09.2 | own, including all of like, well, all of I have like two suits, but it's the most expensive thing |
| 1:14.8 | that I own bar none. And it's also like my most prized possession. And I just think it's like really |
| 1:19.1 | cool when I like it. And I thought about it for a really long time. So once it's stored, I tried it |
| 1:24.4 | on and I was like, ah, it's too expensive. I'm not going to buy this. You know what I mean? And I |
| 1:27.5 | went back and then and the next day I came back again because I was actually a biggest when I bought |
| 1:31.4 | it. And I tried it on again. And I was like, I don't know, I'm going to get like, it's still so much. |
| 1:35.4 | And then finally, lay was like, if I hear you talk about this thing again, like I'm going to go |
| 1:38.6 | buy it. And I was like, all right, fine. So I want to go. And I don't know if you were like me, |
... |
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