Alex Hormozi: Say THIS When Your Competition is CHEAPER

The video is about how to respond when potential customers choose a cheaper competitor, emphasizing the importance of value over price and using a comparison close to highlight the benefits of choosing a higher-priced option.

This video by Alex Hormozi was published on Dec 28, 2020.
Video length: 04:13.

In this video, Alex Hormozi discusses how to respond when potential clients choose cheaper competitors over your business.

He argues that price should not be the only factor considered when making a decision, and that investing more money in a higher quality service can ultimately lead to greater returns.

Hormozi suggests using the comparison close technique to highlight the unique value and benefits of your business, and to emphasize the importance of hitting goals and not wasting time on inferior services.

• Value is more important than price when competing with cheaper competitors.
• Using the comparison close can highlight the benefits of a higher-priced option.
• Encourages customers to invest in quality to avoid buying twice.

Say THIS When Your Competition is CHEAPER - YouTube

Importance of Value over Price

• Lost deals to cheaper competitors in the past few weeks.
• Emphasizes that their company is better and provides more value.
• Uses a personal training example to illustrate the point that you get what you pay for.
• Investment in a higher-priced option can yield better returns than a cheaper option that provides little value.
• Price is what you pay, but value is what you get.

Using Comparison Close to Highlight Benefits

• Uses the comparison close to ask potential customers which option they would choose if price wasn't a factor.
• Allows the customer to explain why they would choose the higher-priced option.
• Asks follow-up questions to get the customer to sell themselves on the benefits of the higher-priced option.
• Price is irrelevant, what matters is how likely you are to hit your goal.
• Questions whether the cheaper competitor is really the best in the industry if they charge the same amount as a boot camp client.
• Encourages customers to buy nice instead of buying twice.

Watch the video on YouTube:
Say THIS When Your Competition is CHEAPER - YouTube