Alex Hormozi: How to CLOSE THE SALE when the prospect says, "I left my wallet at home.."

The video is about how to overcome the objection of a prospect saying they left their wallet at home during a sale, and offers two solutions to the problem.

This video by Alex Hormozi was published on Jun 9, 2022.
Video length: 06:50.

In this video, Alex Hormozi shares a process for overcoming the objection of a prospect saying they forgot their wallet during a sale.

He suggests asking for their ID, which will likely be next to their payment methods, and then taking a picture of it for trust-building purposes. If the prospect still can't pay, he recommends asking them to pull up their banking app to get their account number or to use Apple Wallet.

If those options don't work, he suggests delaying payment for 24 hours and having the prospect swap out their payment method.

• Alex Hormozi is an entrepreneur, investor, and CEO of Acquisition.com.
• The video is about how to overcome the objection of a prospect saying they left their wallet at home during a sale.
• There's a process that can decrease the likelihood someone says they forgot their wallet.
• Ask for ID and trade it for the card they want to use.
• If they don't have their card, ask for their banking app or Apple Wallet, or delay payment for 24 hours.

How to CLOSE THE SALE when the prospect says, "I left my wallet at home.." - YouTube

Introduction

• Alex Hormozi is an entrepreneur, investor, and CEO of Acquisition.com.
• The video is about how to overcome the objection of a prospect saying they left their wallet at home during a sale.
• There's a process that can decrease the likelihood someone says they forgot their wallet.

Ask for ID

• At the end of the sale, ask to see their ID.
• They will usually have their payment method next to their ID.
• Take a picture of their ID for your records.
• Hold onto their ID and ask to trade for the card they want to use.
• Shake the card in the direction of their wallet to indicate they need to take it out.

Bank Statement or Apple Wallet

• If they don't have the card they want to use, ask for their banking app and have them pull up their statements.
• Write down their account number for an ACH transaction.
• If they don't have their banking app, ask if they have Apple Wallet.
• If they don't have Apple Wallet, have them write down the card they don't want to use and delay payment for 24 hours.
• Make a joke about where they're from and reinforce rapport.

How to CLOSE THE SALE when the prospect says, "I left my wallet at home.." - YouTube

Alternative Solutions

• If they don't have their phone or banking app, ask what would make this not a fit for them.
• Remind them of their goal and ask what they've done to achieve it.
• Get ACH set up to have another way to make a sale.
• Delay payment for 24 hours and have them swap the card they want to use.
• Make sure to follow up with them and reinforce rapport.

How to Overcome the Objection of a Prospect Saying They Left Their Wallet at Home During a Sale

• 80% of the time, they will give you the card if they don't have it with them.
• If they say they don't have the card they want to use, ask them to pull up their banking app or use Apple Wallet.
• If they can't do that, ask if they have another card you can use and delay the date until they can swap it out.
• Ask questions to identify the issue, such as if they don't have enough money or if they're hesitant about the program.
• Assure them that they can still do the program and lock in their spot with the credit card they have on file, and swap it out later.
• Use these steps to decrease the likelihood of losing a sale due to the "left my wallet at home" objection.

Watch the video on YouTube:
How to CLOSE THE SALE when the prospect says, "I left my wallet at home.." - YouTube