5 Ways to Handle the "No Budget" Objection
It's no surprise that the biggest objection you're facing in today's economy is the "no budget" objection. Now, does this mean that companies aren't buying anything? Of course not!
Think about your own life - you're still shopping, buying, and getting ready for the holidays, aren't you? You're just being a little more cautious, I'll bet. And so are your prospects. They are still buying things (like your product or solution), but they're being a little more cautious, that's all. And that means you have to be more creative with how you handle the initial objection of no budget.
Here are 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 and 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)
Now you have 5 new ways of handling an objection you probably get over and over again. Use these, script these to fit your product or service, and watch your confidence and sales conversion rates go up. And if you would like more proven techniques, invest in my book below - you'll be glad you did!
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