Thursday, October 23, 2008

5 Ways to Handle the "No Budget" Objection

With the economy the way it is, I wouldn't be surprised if you're hearing "We don't have the budget" much more often than usual. That being said, companies are still buying - they're just being very cautious about it. Sales trainer Mike Brooks has some excellent ideas on how to sidestep the budget issue when calling on a prospect, instead focusing on finding out if there is a need. Go one step at a time, and you'll be able to make sales, even in a tough economy.

Here are Brooks' five proven ways of dealing with this objection that you can begin using today to break through your prospect's resistance and earn the right to present your product or service:

1. "I understand. I'm not calling to sell you anything today, that's not what this call is about. I'm simply calling to see if my company is a fit for what you're doing over there, and if we are, then to provide you with our information as a resource for the future for when you do have the budget.

"Now let me ask you..." (Start a dialogue and ask qualifying questions to see how you can help them, and watch their resistance come down and their buying signals come out!)

2. "________, that's exactly why I'm calling you. You see we work with (their kind of company) all the time and our solution actually saves you money over time. That's why so many companies invest a portion of their budgets into our (your product or service). But before we even talk about that, it's important to see if this can help you, too. I just have a couple of quick questions..." (ask a couple of qualifying questions now...)

3. "I know exactly what you mean, things are tough all over. Let me ask you this: Where do you normally get the budget from when an unexpected expense comes up?"

4. "That's perfectly OK. I don't expect you to even consider spending money on something you know nothing about, and that's why I’m here. Let me ask you a couple of quick questions, and if there is a fit between our companies, then you can determine if it makes sense to learn more about how our (your product or service) can help you (save money, make more money, save time which is money, etc.). Now..."

5. "_________, if you're like most of my clients right now, you're going to be extremely cautious regarding any money you spend, so I totally understand. Let's not talk about budget until we determine if our (your product or service) even makes sense for you. Let me ask you this..." (ask a qualifying question to determine if it even makes sense to keep talking to them)

Mike Brooks, Mr. Inside Sales, offers free closing Scripts, and a free audio program designed to help you double your income selling over the phone. He works with business owners and inside sales reps nationwide teaching them the skills, strategies and techniques of top 20% performance. Learn more at http://www.mrinsidesales.com/

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